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Introduction
According to a recent survey from Purbeck Insurance Services, UK SMEs are increasingly seeking business loans for working capital to keep their business going. Demand for small business loans jumped by 45% year on year in 2024 versus 2023 with 33% of all loans within the final quarter of 2024 being for working capital purposes. Businesses are seeking loans for working capital to help become more financially resilient in the face of increasing costs of doing business in the UK and to deal with any unexpected costs that could create a cash flow crisis to operations.
An alternative to seeking loans to help bridge working capital issues is to search and apply for a number of grants that are available from local authorities to help provide funding towards any working capital costs for businesses that may be struggling in a local area. Some working capital funding is also available for businesses who are looking to expand operations and take on new opportunities but need an increased level of cash flow in order to do so.
What Are Some Of the Latest UK Working Capital Grants Available?
i) Business Productivity Grants
Sheffield City Council is providing match funding to help businesses understand and source solutions to productivity challenges across all industries and allowable costs include those for working capital activities. Funding up to £12,500 is available.
Application Deadline: Applications are invited on an ongoing basis
ii) Economic Development Grant Scheme
Shetland Islands Council is providing grants for businesses to help them fund projects that will enable them to grow. Allowable expenses include those towards working capital activities. Funding up to £25,000 is available.
Application Deadline: Applications are invited on an ongoing basis
iii) Levenmouth Reconnected Grant
Fife Council is providing a fund that aims to maximise the economic and social opportunities presented by the new Leven rail link, the regeneration of the River Leven and its proposed path network, investments in renewable energy, as well as other initiatives being implemented within Levenmouth. Allowable costs include those towards working capital activities. Funding up to £5,000 is available.
Application Deadline: Applications are invited on an ongoing basis
iv) Brean and Berrow Business Support Grant
Sedgemoor District Council is providing funding to businesses in the local area who have been impacted by Brean Pontins Holiday Park being out of use for holidaymakers in order to accommodate Hinkley Point C workers. Businesses can use funding to deal with reduced tourism revenue and encourage adaptation to new local market opportunities. Working capital costs are included in the allowable expenses. Funding up to £5,000 is available.
Application Deadline: Applications are invited on an ongoing basis
v) Business Builder Programme
Broadland District Council is running a scheme providing funding to local businesses that have been trading for at least two years and are seeking to invest in a specific business need to support their growth and development. Allowable expenses include those for working capital activities. Funding up to £5,000 is available.
Application Deadline: Applications are invited on an ongoing basis
vi) Boscombe Traders Grants
Bournemouth, Christchurch and Poole Council is running a scheme providing funding to local traders to support initiatives to improve the Boscombe High Street area. Allowable costs include those as part of working capital activities. Funding up to £2,000 is available.
Application Deadline: Applications are invited on an ongoing basis
vii) General Grant
Kendall Business Improvement District is providing a grant that will support projects that will have a positive impact on business and the town. Working capital costs are part of the permitted expenses. Funding up to £1,000 is available.
Application Deadline: Applications are invited on an ongoing basis
viii) Midhurst Town Centre Grant Fund
Chichester District Council is providing a fund that aims to support businesses who are reliant on local footfall and have been negatively impacted since the A286 at North Street has been closed to vehicles. Allowable expenses include working capital costs. Funding up to £1,800 is available.
Application Deadline: Applications are invited on an ongoing basis
How To Apply For Working Capital Schemes
Full details about how to apply for schemes and the eligibility criteria is available on each individual scheme page on the relevant website. Any deadlines, who can apply and what eligible costs the grants will cover will also be outlined on these pages. Interested businesses can speak to funding advisors based at each provider who can guide them through requirements and eligibility criteria to see if the relevant funding is a match with their needs and help them to apply. There are also application forms and other supporting guidance available on scheme pages as well.
Want To Find The Latest UK Working Capital Funding Opportunities?
If you want to see the full set of UK working capital funding currently available, please visit https://getbusinessgrants.com/
