The Small Business Grants initiative is a free-to-enter competition that gives small businesses a chance to win a £5,000 monthly grant to invest in their company’s growth. This is a private business grant and does not have to be paid back.
Small businesses accounted for 99.3% of all private UK businesses at the start of 2017, with a combined annual turnover of £1.9 trillion. However while some companies can get away with minimal investment, others are faced with significant expenditures that are unavoidable when establishing their company. The Small Business Grants initiative will help small businesses in this area, offering monthly financial assistance to maximise their chance of success.
Costs such as equipment, staff, marketing and general overheads can quickly add up for SMEs. Depending on the type of business, these costs can vary from a few hundred pounds to multiple thousands. Whether you are running a café, operating a business from home, or even managing a franchise, you will need funds to grow your company.
Eligible businesses can apply for free via a Grant Application form. Every month, a shortlist of leading entries will be sent to a panel of independent expert judges who will decide on the winner, considering factors such as turnover growth, innovation, aspiration, key projects completed, contracts won and partnerships forged.
If you run a UK small business that has been set up and is actively trading, you are eligible to enter the competition for the monthly grant. Your business may be a sole trader or limited company or not-for-profit organisation.