Grants offer one source of partial funding for business development. Grants are given by authorities - local, regional, national, or international - to businesses for specific purposes such as:

			Research and development
			Business Expansion
			Employment of new staff

Grants are not repayable if all terms of the agreement are met.

Considering Grant Funding

Grant funding can be attractive for businesses needing finance for particular projects, or for purchasing capital equipment.

Receiving a grant usually depends on the following:

			Availability of money in a particular area
			Amount of money on offer in that area
			Quality of the application

Some areas may be promoting the development of certain types of business, whilst others encourage employment. Not all regions are in the same economic situation, so grants do vary. The time scale of availability can also change frequently as new schemes are introduced and old schemes discontinued.

Grants can only ever provide a percentage of the total costs of any particular project. Therefore, companies must ensure that:

			They are in a position to invest their own money
			Prepared to make that investment

Eligibility and Information

			Nature of the business
			Geographical area in which they are based

In Summary

Unfortunately there are no hard and fast rules about who is eligible for funding. There are many different factors that need to be taken into consideration, some of these include:

			Grants do not have to be repaid
			Authorities give grants for specific purposes
			Grants vary by area and time

The links on the right-hand side of this page are a good place to start making enquiries and all specialise in finding the right solution for you and your business.