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).
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 adviceLink opens in a new window 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 GrantsLink opens in a new window alone. Some business sectors — such as Energy, Export and Innovation — are particularly active and offer many different options.
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
- 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