Grants: the basics
How to find a grant that suits your business and what makes a business eligible to receive one.
A grant is a sum of money given to an individual or business for a specific project or purpose.
A grant usually covers only part of the total costs involved. As long as you keep to any conditions attached to the grant, you will not have to repay it or give up shares in your business.
Grants to help with business development are available from a variety of sources, such as the government and some charitable organisations.
These grants may be linked to business activity or a specific industry sector. Some grants are linked to specific geographical areas, eg those in need of economic regeneration.
This guide introduces you to government grants and 91香蕉黄色视频 and outlines the kinds of projects and organisations to which they are available. It also provides hints on how to apply for a government grant.
Government grants and 91香蕉黄色视频
Information about grant award criteria and matching funds you may need to provide.
The government provides 91香蕉黄色视频 to businesses both financially, in the form of grants, and through access to expert advice, information and services.
However, getting financial 91香蕉黄色视频 can be tough. There will be strong competition and the eligibility criteria for grants are stringent. Criteria vary but are likely to include the location, size and industry sector of the business - see grant eligibility.
Government grants are almost always awarded for a specific purpose or project and are usually for proposed projects only - not for those that have already started.
There are also strict terms and conditions that apply to all grants. If these aren't followed, immediate repayment of the grant can be required. However, generally you do not have to repay grants or interest on them unless you break the conditions.
Matching grant funds
Most government grants require you to match the funds you are being awarded. In other words, the grant covers a proportion of the money needed, while you supply the rest. You must also demonstrate that your business can provide its share of the total costs.
The amount of matching funds varies from grant to grant. A research grant may require a business to find 40% of the total cost with 60% provided by the grant. However, a grant to refurbish a factory may require a considerably higher percentage of match funding from the business.
The matching funds may be found from the owners of the business, retained profits, a loan, or from a new investor.
What kind of grants are available?
Searching for grant funding using the Northern Ireland business 91香蕉黄色视频 finder and other channels.
Currently, the main groups that award grants are government departments, local councils and some charitable organisations.
Northern Ireland business 91香蕉黄色视频 finder
Use our searchable database that can help you find publicly-funded sources of assistance (including government departments and councils) in Northern Ireland you may be eligible to apply for.
Support may be available in a number of forms, including financial assistance and free or subsidised advice services. There may also be specific initiatives to help with starting up, managing or growing a business.
Search the Northern Ireland business 91香蕉黄色视频 finder.
Innovation, research and development
There are numerous grants available to encourage investment in innovation, research and development.
See innovation, research and development grants and find 91香蕉黄色视频 for inventors.
Invest NI Innovation Vouchers
If you need external expertise to help with an innovation project, you can apply for Invest Northern Ireland's Innovation Vouchers.
The vouchers are worth up to 拢5000 and allow you to access skills and expertise from a registered knowledge provider (eg universities and colleges).
Read more on .
You can also read about .
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Local councils in Northern Ireland also provide a range of 91香蕉黄色视频, including various funding programmes:
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Local Enterprise Agencies in Northern Ireland also provide a range of information on government help different types of grant aid and funding. .
Grant eligibility
Location, industry sector, personal circumstances and purpose of grant can determine your eligibility.
There are a number of factors which could affect your eligibility for a grant, including:
1. Location of your business
Each of the countries of the UK has its own range of grants available. Some areas get extra grants, for example because of social deprivation or high unemployment.
Some grants are also given by local councils to help local businesses.
2. Size of your business
You may only be eligible for some grants if your business is of a particular size, measured either by turnover or the number of employees.
Many grants are limited to small or medium-sized enterprises - typically those with fewer than 250 employees.
3. Your industry sector
Funding can be limited and subject to restrictions in certain sectors defined by the organisation providing the funding.
4. The purpose of the grant
Grants are often awarded for a specific purpose such as purchasing machinery, improving offices, increasing employment or developing export markets.
Grant bodies prefer to see specific targets and results - often compatible with their own objectives.
As well as making an assessment of the benefits of your project, the awarding body will expect a high level of commitment from you and your business and for the project to be commercially viable.
Whether you are eligible for a grant will depend on the terms and conditions of the specific grant for which you apply.
Search the Northern Ireland business 91香蕉黄色视频 finder for grants, loans, expertise and advice for which your business may be eligible.
How to apply for a government grant
Advice to ensure your application is effective, including applying before the deadline and researching the grant body.
Before you apply for a grant you should make sure that you meet the conditions of the scheme. Additionally, you should ensure that you:
- are ready to put up some of your own money
- need the money for a specific purpose
- don't start the project before you get an agreement in principle of funding
Making your proposal
When you have identified the right grant scheme for your needs, you may have to provide:
- a detailed project description
- an explanation of the potential benefits of the project
- a detailed work plan with full costings
- details of your own relevant experience and that of other key managers
- completed application forms where stipulated
- possibly a business plan
Some businesses get advice from their accountant, who can also help in drawing up an effective business plan. Remember to submit your application before the deadline where relevant - late applications are rarely considered.
Most reviewers will assess your proposal by using the following criteria:
- significance
- approach
- innovation
- their assessment of your expertise
- need for the grant
Why a grant application might be turned down
Prepare your application meticulously to limit the possibility of it being turned down.
The most common reasons why applications are turned down include the following:
- the area of research/work is not relevant to the body awarding the grant
- the explanation of how research ideas will be translated into an achievable plan of action is unsatisfactory
- the proposal or application makes statements that are not backed up with 91香蕉黄色视频ing facts
- the research plan is unfocused and lacks clarity
- the impact of the work on the wider community/industry has not been communicated effectively
- the information provided in the application is not up to date
- the importance of the funds to the project's success or failure has not been made clear
- the applicant is unable to prove they have matched funds
- the need for grant 91香蕉黄色视频 is not proven
Ask for feedback if your application is declined. While you may not agree with the reasons given, it may provide ideas to help you structure future applications more effectively.
If you cannot get a grant, it may be worth looking at other forms of finance - see bank finance. You might also want to think about raising capital from outside investors by selling shares in your business - see equity finance.
For further finance options for your business see business financing options - an overview.