In order to promote and sustain growth of local economies and
businesses, the DTI and various other organisations offer a wide selection of
business grants. These are a great source of finance for start-ups and growing
businesses.
However, for many small businesses the main stumbling block to
accessing grants is understanding the maze of conditions and requirements that
are outlined in the application forms. These conditions will vary greatly
depending on the location of the applicant and what sort of grant is being
applied for.
If your business is location-independent, it may be worth considering
deals which the government and local authorities produce to stimulate the
development of new business in a particular area. Grants may be available to
induce you to locate in an inner city or to one of the poorer regions of the
country, or in an area of significant unemployment.
The following organisations have set up business mentoring and advice
services to help growing businesses find and apply for relevant grants:
Government Offices
The Government Offices
(GOs) in the English Regions are responsible for putting into practice locally
the policies of various government departments, in particular those of the
Department of Trade and Industry (DTI) where regional aid is concerned.
Regional Development Agencies
RDAs are the
lead bodies at regional level for coordinating inward investment, raising
people's skills, improving the competitiveness of business, and facilitating
social and physical regeneration. RDAs provide advice to GOs on the types of
projects which are suitable for Enterprise Grants in light of their economic
strategies.
Business Links
Business Links provide a point
of entry for most of the services offered to SMEs by the DTI and other
government departments. They will ask businesses to complete a simple
questionnaire, and will search a grant database and provide details of any
possible schemes.
Other sources
In addition to Business Links
and local GOs, trade unions, trade associations and banks also provide
information and application advice. Consider using the services of a management
consultancy firm who will assess your business' eligibility for specific grants
and then help with the application.
However, before deciding to use an adviser make sure you check out
the terms and conditions for their service - you may find that their charges
vary considerably.
