New business grants for startups
A range of startup business grants are available depending on the sector you want to go into. For example:
The National Lottery Heritage Fund
This fund supports heritage projects ranging from designed landscapes to cultural traditions. The National Lottery Grants for Heritage 2022-23 is prioritising projects that promote inclusion, boost the local economy, encourage skills development and job creation, and support wellbeing.
Learn about the National Lottery business grant.
There’s also the Innovate UK grant and R&D tax reliefs from the government, as we mentioned earlier.
Small business grants for young people
The Prince’s Trust supports young people aged 18 to 30 to start and run their own business. Besides funding and resources, they also provide training and mentoring.
The Prince’s Trust runs an Enterprise Course, which involves info sessions and workshops to help you launch your business. You can apply for low-interest business loans between £500 and £5,000, and the Prince’s Trust says small business grants may be available in special circumstances.
If you’re an entrepreneur who’s building a solution to social problems in the UK, check out UnLtd awards. If you’re 16 or older, willing to participate in learning, and working for the benefit of others, UnLtd could help you start out. They offer awards from £500 to £15,000 across two separate startup packages.
Wondering what mentoring is all about? Read our article on the benefits of having a mentor for your small business to learn more.
Just starting your business? Read our side hustle guide for students to help plan where you want to go with your business and what funding you might need to get started.
Where can I find small business grants in the UK?
Other financial help available to your small business will depend on where in the country you’re located, the size of your business, the industry you’re in – and whether you’re looking for business startup grants or funding to grow your business.
You can use the government’s Finance and support for your business online tool by selecting the ‘grants’ tick box. You can also filter by how long you’ve been trading (useful if you’re only looking for startup business grants), industry, number of employees, and region of the UK.
There’s also more information on the grants available in the different nations of the UK on the following portals.
Small business grants for female entrepreneurs
A Simply Business survey of over 900 women business owners found that 45 per cent would like greater access to business funding to overcome the barriers they face.
There are some grants and awards aimed at female business owners, including:
