In the UK, there are hundreds of government grants available for your business. They can help you start operating and keep growing. Government assistance comes in many forms. Thanks to it, you might be able to save money on renting premises or buy cheap IT equipment for your employees.
Applying for government grants can be a complex process, especially if you are interested in several of them. Each of the grants has its own requirements and eligibility criteria so if you want to qualify for them, you have to submit several separate applications.
If you would like to apply for government assistance for businesses but do not know how to find it and how to apply for it, have a look at our short guide.
Where to find government grants for new companies?
If your new business is based in the UK, there are two main ways for you to find out more about available grants and seek funding.
Business Finance and Support Finder is a simple online tool developed by the UK government that allows you to browse publicly funded sources of financial assistance. If you see a grant click on the grant’s name, you can find out more about eligibility criteria and benefits it brings.
The grants that you can find thanks to the tool include financial assistance, as well as free or partially free advice services. It does not matter if you have just created a business or you have been running it for a while but you need financial assistance to grow it, thanks to the Business Finance and Support Finder you can find a grant that matches your goals.
Business Finance for You gives an overview of a range of finance providers across the UK. There, you can find out more about regional funds, government schemes, or banks. All these bodies could be a potential source of assistance for your business.
The platform allows you to complete one application and send it to hundreds of funding providers. Once you do that, you will receive multiple offers and you will be able to choose which provider you want to find out more about. You will also have access to the advice of impartial finance experts.
What loans for SMEs can I get?
Government loans are one of the main sources of additional finances for small businesses. While you, of course, have to pay them back they tend to have more favourable conditions and lower interest rates than loans offered by banks and other private lenders.
There are many government loans your business could be eligible for. Here are some of the main ones:
| Loan | What does it offer |
| Funding for Lending Scheme | Cheaper loans and mortgages for businesses |
| Community Development Finance | Loans for disadvantaged geographic areas or groups that could not receive assistance from banks |
| Enterprise Finance Guarantee | Loans for small businesses that do not have a proven track record needed for regular commercial loans |
| Business Finance Partnership: Small Business Tranche | Loans for businesses with a turnover below £75m designed to increase non-traditional finance |
| Start-up Loans | Loans for young people (between the age of 18 and 30) to help them start a small company |