Coronavirus: Financial support for businesses

Cash grants from local authorities

There are two cash grants available for eligible small businesses — a £10,000 grant and a £25,000 grant (for certain retail, hospitality and leisure businesses).

Learn more about which businesses qualify.

Coronavirus Business Interruption Loan Scheme (CBILS)

Learn more about government business loans available during the coronavirus outbreak.

Coronavirus guidance and advice

Read up-to-date guidance and advice on coronavirus and how it affects your business.

What is a Grant?

A Grant is a form of finance provided by either the Government or a private organisation for a specific purpose.

Where it differs from any other form of finance is that you don’t have to pay it back or give away a share of your business in exchange.

There are dozens of different business Grants available across the UK, with over 70 government Grants alone. Some business sectors — such as Energy, Export and Innovation — are particularly active and offer many different options.

Key requirement

Grants focus on specific sectors of business and outcomes. Your business must fit either to be eligible for funding.

Key benefit

You don’t have to give up equity and you don’t need to pay the money back.

Key consideration

Application processes are time-consuming and competitive. You should have a back-up plan in case you’re unsuccessful.

“I would always recommend that people consider looking at the grants and financial support from the Government. The worst that can happen is your application is rejected.”

Nigel O’Donoghue CCO, Frank Recruitment Group

How does my business get a Grant?

Business Grants have strict eligibility criteria that usually depend on a number of factors, including:

  • the region you’re based in
  • the type of business you run
  • whether the provider has an area of focus which your business could help with

Application processes are lengthy and time-consuming, and there is no one-size-fits-all approach to getting a Grant. It all depends on the rules and conditions of each individual programme.

As a result, it’s always a good idea to speak to the provider to find out what’s involved in the process and whether you’re eligible.

Some Grants are provided in the form of finance, while others offer free equipment or discounts to aid your business’ development. Whatever form your Grant takes, there will be conditions attached.

How Grants are paid

You may:

  • receive your Grant as a single lump sum upfront
  • be reimbursed after spending your own money
  • need to match the value of your Grant before you receive it

It all depends on the specific Grant you’re applying for.

Grants have very specific eligibility criteria which vary from business size to location, the sector your business is in to the purpose of the Grant itself,

Benefits of Grants

You don’t have to pay it back

You retain control of your business

There are lots of different options available

Is a Grant right for me?

About your business

Business stageAny
Annual turnoverAny

What's my next step?

Other finance options

Venture Capital
Venture Capital invests in businesses with high growth potential, often after Angel investors have got the business started.
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Private Equity
Private Equity firms invest in established businesses in return for a large or controlling stake, to help them grow to the next level.
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Leasing & Hire Purchase
A business can use Leasing and Hire Purchase to buy specific assets, like vehicles, machinery or other equipment.
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