Government Grants for Small Businesses Start Up
Business grants are fiercely competitive but if you have a company dedicated to improving the lives of others. And committed to research you may qualify for a grant from the US government. Your local state or other organizations. Grants are difficult to win and many require that you use the funds for a specific purpose. But with so many grants available with a little searching. You can get the free money you need for your business. So in this article we will discuss government grants for small businesses start up.
Small Business Innovation Research (SBIR)
If you’re running a research and development-focused startup, you might be able to get an SBIR grant. Under the supervision of the U.S. Office of Small Business Administration Technology Office. This program is targeted at small businesses seeking to work directly with the federal government to create innovative technology.
Regional Growth Fund (RGF)
Companies seeking funding of less than £ 1 million can apply for support through the Regional Growth Fund programs. These are schemes administered by national or local organizations that have received funds from DSFA to offer grants and / or loans to eligible companies. RGF programs have been allocated £ 1.7 billion since 2011. Supporting more than 9,400 small and medium-sized enterprises. To be eligible your business must be based in England have a growth plan, create or protect jobs, and invest private capital.
This government-funded initiative provides loans, mentoring, and support to new or very small businesses with offers that may be viable but cannot attract investment from high street banks. To qualify, companies must still continue or negotiate for less than 12 months. You can easily keep these records with accounting software.
The scheme provides free business planning to ensure applicants are in the best possible position to receive funding. Your business plan will determine the final loan amount.
Small business grants are available from the UK government. The Scottish Parliament the Welsh Assembly and the Northern Ireland Assembly. Each grant provider has its own application process and application criteria. For a complete list of providers, use the government’s Business Financial Support Finder. This tool allows you to search for financing opportunities based on the location, size, and type of business you run.
UK Export Finance (UKEF)
UK Export Finance helps UK exporters by ‘underwriting’ bank loans offered to foreign buyers of UK products and services. This means that you take the risk on the bank loan, making it more likely that the bank will offer it. It can help UK exporters to obtain tender bonuses and contracts and access working capital financing. To qualify for export insurance, your business must be in the UK and the buyer must be abroad.
Business Finance Partnership
With a government investment of £ 1.2 billion, the Business Finance Partnership is designed to diversify the sources of finance available to small and medium-sized businesses through non-bank lenders. Loan terms will vary, but companies can apply directly to some fund managers and non-traditional lenders for financing.
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