In the third and final part of this 3-part blog we look at grant funding amounts, Innovate UK sectors and the types of businesses for projects started in 2021. How much funding are businesses getting? Projects that received funding of between £100,000 to £250,000 were the most common at 31.2% of the total in 2021. … Read more
In the second part of this 3-part blog we look at regional funding picture for projects started in 2021. Which regions are getting the most or least funding? London, the South East and East of England were the top three funded regions in 2021 with 572, 509 and 314 projects respectively. London and the South … Read more
The government announced a 66% funding increase in core Innovate UK programmes to £1.1 billion in 2024-2025 so it’s important to know if your type of business and the innovation project you are thinking of typically get Innovate UK funding. Innovate UK’s 5 year plan which covers the years 2021 to 2025, has the future … Read more
The issue of fraudulent claims during the government backed Covid19 loans (BBILS and CBILs) has been an ongoing story in politics and the media. Also, the increased focus on taxation, as a result of the government’s recent mini-budget, has added to an overall climate of HMRC vigilance particularly in relation to businesses. This background is … Read more
Our focus at Get Business Grants is of course business grants and facilitating the process of finding and obtaining the grant your business needs. However, business owners and FDs should not ignore other methods of funding their plans that will provide further impetus. Indeed, many grant schemes require that you already have another source of … Read more
The last article highlighted the potential for changes in availability for business grants. It will be interesting to see if there is any increase in demand for business grants as well. This increase in demand will be driven by two factors. Firstly, the increased cost of lending facilities as interest rates rise. Secondly the reduction … Read more
Whilst interest rates are low by historical standards (some will remember 15% in October 1989 to curb inflation and 12% in October 1992 following the ERM crisis, trying to halt the fall in the value of the Pound) the current round of increases will present challenges for SMEs. Although the norm from 1994 to 2007 … Read more
Any ambitious small business will require funding but a key question is what kind of funding suits my needs best. As well as the usual traditional methods such as loans or overdrafts through to newer methods such as peer to peer lending. Each have their own pros and cons but they all have a cost … Read more
What is it? The UK Community Renewal Fund is a £220m investment pilot scheme that will be distributed in the 2021-2022 financial year across local areas in the UK to revitalise business activity and community programmes. The end goal will be to create opportunities to trial new approaches and innovative ideas at a local level. … Read more
What are they? Overseas market development grants can help fund businesses who want to start exporting to or trading in overseas markets, including market research activities, website localisation and funding to fulfil export orders. Or, for businesses that are ready to export, a capital injection can help businesses win larger export deals and carry out … Read more
