Business Growth And Digital Growth Grants
Business Lincolnshire is awarding grants to SMEs looking to increase turnover or create jobs. It can contribute between 40 per cent and 50 per cent of your overall costs, ranging from £1,000 to £5,000. Your firm must be based in the Greater Lincolnshire area and your grant activity proposal must be agreed with a Business Lincolnshire adviser.
Applications can be for a capital or revenue grant.
Theyre available through the Lincolnshire Growth Hub Business Growth Grant , for purchasing equipment, software and specialist consultancy support.
Finding The Best Startup Business Grant For Your Small Business
Australia is home to more than 2.3 million small businesses. It should come as no surprise, then, that there are plenty of grants to support SMEs.
Startup business grants are funding programs that provide businesses with much-needed capital to realise an idea. There is a wide range of options, including government funding grants and industry-specific grants. However, knowing which ones are available and which to apply for can be challenging.
In this post, we look at the best small business grants out there, from government grants to private funding.
Small Business Grants In Northern Ireland
The Established SMEs Funding section of Enterprise Ireland lists several ways you can get financial help for your small business if its already up and running and youre based in Northern Ireland.
It also offers High Potential Start-up Funding if your business idea has the potential to develop an innovative product or service for sale on international markets and the potential to create 10 jobs and 1m in sales within three years of starting up.
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Small Business Grants In New Brunswick
The province of New Brunswick offers a number of resources for businesses, ranging from tax credits and market research to venture capital many of which are delivered through an economic growth agency known as OpportunitiesNB. For those seeking non-repayable business grants in New Brunswick, one of the better options is to explore the hundreds of federal government options, which may be searched using the Government of Canada Business Benefits Finder.
Being Unaware Of Opportunity
Generally speaking, the biggest barrier that small business owners face is not knowing that they can export. In other words, they may not know that there are opportunities for them to grow internationally, and tools available to assist them, explains Pottier. EDC offers tools that help make exporting manageable for small-to-medium-sized Canadian businesses and profitable.
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What Do I Need To Apply
To complete the application, be prepared to provide detailed business information and supporting documents including:
- business number and date of incorporation
- business banking information
- a complete list of capital assets for the project including cost per item
- description of the business operations and
- detailed description of the project and how it will benefit the business.
Online Search For Funds Stops Here
With the private sector of the economy shaking in the wake of the worldwide financial recession, many people have lost their jobs. Job security affords you piece of mind, and eliminates worry and stress. Worry and stress cause health concerns, and you certainly dont need any extra burdens at this time. Its time for you to take care of yourself, because no one else will do it for you. The best way to protect your job is to have your own business. The Federal government wants to help, and so there are federal grants for small businesses available online right now. Grants for small businesses may be the answer to what youve been looking for.
Federal small business grants allow people such as yourself to get the small business funding you need to get going, to go in a different direction, or to expand if you already have a small business. Federal grants for counseling for small businesses are available in all shapes and sizes you just have to pick out the one thats right for you. There are counseling small business grants for a multitude of business types with many more being added all the time.
Government grants are plentiful, but the process can sometimes resemble a marathon race. Many people get discouraged during the process, and quit before they reach the finish line and acquire one of the federal small business grants. Well, youve come to the right place the days of frustration and dead-ends in seeking small business grants are over.
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B The Office Of Economic Development
You can also turn to the local EDA in your area. These offices are run by the Economic Development Administration and they offer small businesses help with grants, technical assistance, and other resources to help them grow.
EDA grants are changing all the time so check in here for information about whatâs currently available.
Find your local EDA resources here.
Heres How To Apply For A Federal Grant For Small Business On Grantsgov
Grants.gov has a clear process for learning about and applying for federal grants for small businesses:
You can click on each term to be brought to the relevant, but hereâs a quick overview of each step:
Step #1: Learn about grants
The Learn page includes a video explaining how Grants.gov works, a community blog to help guide potential grantees, and a series of topics about government grants, including âGrants 101â and âGrant Policies,â among others.
Step #2: Check eligibility
The Check eligibility page is really important â donât skip this one! This site helps you figure out whether or not your startup is even eligible to apply for a federal grant. They list some general requirements and also point you toward other resources to determine whether or not your startup is eligible.
Step #3: Search grants
Searching grants is probably pretty self-explanatory. Itâs where you search for grants! You can search by keywords, opportunity number, or CFDA, as well as more specific criteria.
Step #4: Register
Once youâve learned about the grants, checked your eligibility, and searched for the right fit, you have to register yourself and your company. The Register page includes links for registration, as well as links out for more information about the process, and an explanatory video.
Step #5: Apply for a grant
Step #6: Track your application
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What Grants Are Available For
Grants are normally available to do specific things, for example to develop a new product.
Youll need to apply for a grant before your project has started.
Grants should only be used as an additional source of funding not to fund an entire project.
The grants available to help your idea or business will depend on:
- the kind of idea or business you have sometimes called your business sector
- the potential of your idea or size of your business
- what you intend to spend the grant on
- where your business is based
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Who Can Apply Eligibility Requirements
If you have an interest in applying for small business grants from the federal government, you need to qualify as a small business under the Small Business Administration guidelines. If the business qualifies, the next step in determining eligibility depends on the particular grant program in question. You can find a full listing of grants at Grants.gov. You can search the listings by category or by keywords. The list includes grants on research in many different categories including agriculture, transportation, energy, education, defense, and science to name just a few.
Small business grants have different requirements of those applying for the grant. To understand this, look at this example. The Department of Agricultures National Institute of Food and Agriculture provides grants for food safety research. This grant application is open to just about anyone. However, in order to qualify for this grant, you have to conduct project research into reducing food-borne illnesses with improved food safety. The grants go out based on the project proposal the small business puts together. A business that specializes in providing security guards is unlikely to qualify. A company that develops food safety equipment and products might just qualify.
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Take A Hard Look At Your Business Plan
A business plan is the cornerstone of your business, and it should be updated regularly. A good business plan will help you set goals and define your startupâs vision and direction. It should also establish a timeline for achieving those goals and metrics to track progress.
The best way to start writing your business plan is by talking it through with someone who has been there before especially if theyâve achieved some level of success in their industry. The person you select should be able to provide constructive criticism, from its lack of organization or clarity to any sections that are too wordy or confusing. They can also help guide you through crucial elements like financial projections, marketing strategies, staffing needs anything that might affect how quickly your company grows over time once it has launched into operation mode.
Itâs important not only because other people may read this document later down the road when deciding whether or not to invest in your startup venture but most importantly because youâll want them to see how well thought out your plans were before moving forward with anything else.
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How Do I Write A Grant Proposal
When writing a business grant proposal, its worth keeping the following points in mind:
- Write in plain English. Avoid industry jargon and flowery language.
- Be specific about your plan. Be able to clearly explain how the funds will be used and exactly what results you expect to achieve.
- Show how youre aligned. Most grants are created to promote specific social or economic goals. Make sure its clear how your business supports the funders goal.
- Demonstrate your capability. Provide evidence that you and your team are capable of delivering the work you are promising.
- Know your numbers. Make your budget as detailed as possible
Writing a successful grant application is no easy task. Its well worth spending time to get it right. You may wish to engage the services of a professional grant writer, whether thats a local professional or a relatively low-cost online freelancer.
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Types Of Small Business Grants
There are several types of grants, and you may only be eligible for certain ones. Grants generally come from the following sources:
- Federal state or local governments
Government grants are often the most involved, while grants made by businesses may include a competition aspect.
Here weve rounded up examples of some popular grants in these categories. However, dont limit your search to just these grants. Weve also included several research tools you can use to find grants that may be a fit for your business.
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Where Can I Find Free Money For A Business Start Up
Related
The grant-hunting process is a daunting one, especially for new entrepreneurs. Hundreds of opportunities for free money are out there in the business sphere, each with its own set of rules and requirements. Fortunately, organizations exist to help you navigate the world of grants and find opportunities that fit your startup best.
If youre ready to filter through free money resources, start here:
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Food For Thought: The Ripple Effect Of Not Exporting
If you take anything away from this blog post it should be this: You can do this, and you should. The reasons why might surprise you. The growth of your business impacts more than just your wallet and your business reputation. When Canadian SMEs abstain from trading internationally, it has a detrimental impact on the entire Canadian economy.
We know that Canadian small-to medium-sized enterprises are a key ingredient to expanding Canadian trade and growing our economy. Whats concerning, however, is that only 10 per cent of SMEs are currently tapping into international markets and supply chains. This signals an opportunity and necessity to do more, especially when research also shows that exporting companies grow faster, are more resilient and innovative, and more sustainable than companies that dont export, explains Pottier.
Growing your business and exporting internationally is a great move for your business, you just need to get started. Take the first step by exploring the excellent resources in your area that are designed to support business owners like you in your efforts. Do it for your future, do it for Canada!
Learn More About Small Business Government Grants And How To Apply
This list of Canadian government grants is intended for small to medium-sized businesses that have been incorporated for at least 3 years, create at least $500,000 in annual revenue, have 15 or more employees, and perform research and development or produce a product in Canada. If you do not meet these qualifications, please visit our source for Canadian Startup Business Resources.
Looking to get started on accessing small business government grants? Connect with a member of the Mentor Works team to learn which grant could be the best fit for your business, and make sure to subscribe to our Weekly Funding Newsletter to stay informed on the latest government funding news and updates.
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Leicester Business Growth Grant
This grant project supports small and medium-sized enterprises that have been trading business-to-business for at least 24 months in Leicester and Leicestershire who are looking to grow or develop their business. Grants from £2,000 up to £25,000 are available providing 35 per cent towards the cost of capital projects . A business adviser is provided to support applicants throughout the process.
Corporate Or Private Grants For Small Businesses
Federal and provincial governments arenât the only ones with a stake in helping small businesses to thrive through grant programs.
Especially in Canada, where small-to-medium-sized businesses create roughly 90% of all jobs, the large, private enterprises stand to benefit by developing the small business world.
Similar to government small business grants, corporate funds are awarded to organizations that qualify based on a defined set of requirements.
If your business is successful, you may benefit from a corporate grant or grant competition.
18. Cartier Womenâs Initiative
What is it?
The CWI is seeking committed female entrepreneurs around the globe who lead businesses with the potential to grow significantly in the coming years. Itâs an excellent opportunity to help you accelerate the growth of your company.
How much is awarded?
The seven laureates will receive $100,000 USD in prize money.
The 14 finalists will receive $30,000 USD in prize money
On top of the prize money, all 21 finalists will receive a scholarship to partake in a six-day INSEAD Social Entrepreneurship Executive Education Program .
Youâll also get ongoing support for the further growth and development of your business.
Who can apply?
In addition to being an early stage, for-profit company led by a woman, your business must fit additional eligibility criteria outlined on the website.
How to apply?
Visit the CWIA website and follow the steps outlined at the bottom of the page.
What is it?
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Exporting Grants For Selling Internationally
A significant challenge for Canadian small businesses and startups is international expansion and export market access. The federal government has, therefore, developed programs and grants that are available to help small businesses to export out of the country.
4. CanExport SMEs
What is it?
CanExport provides financial assistance to small and medium-sized enterprises registered in Canada to help develop export opportunities for your product or service in new international markets. Funds are delivered by the Trade Commissioner Service of Global Affairs Canada, in partnership with the National Research Council of Canada Industrial Research Assistance Program .
How much does it award?
The CanExport SMEs program requires applicants to submit a detailed budget for your project, for which expenses total between $20,000 and $100,000. The program reimburses up to 50% of eligible costs to offer between $10,000 and $50,000 in funding per project.
Companies participating in trade missions organized by Global Affairs Canada for groups under-represented in international trade may exceptionally submit a project of less than $20,000 for consideration.
An applicant can only have one active CanExport SMEs project at any given time but may apply multiple times contingent on the total funding received not exceeding $99,999 per government fiscal year . A group of related companies cannot receive more than $200,000 in funding in one single fiscal year.
Who can apply?
How to apply?
A Constantly Changing Environment
Another challenge is an ever-changing trade environment. The global economy is constantly evolving, introducing both new opportunities and potential stumbling blocks for Canadian businesses, says Pottier.
Policies change, trade agreements are revised, and, as weve all recently observed here in Canada, duties and tariffs change. Luckily, organizations like EDC are there to help Canadian businesses weather the storm by keeping them informed of key changes and ensuring the business is equipped to handle the evolving environment.
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Community Navigator Pilot Program
Through the Community Navigator Pilot Program, the federal government provides underserved startups and small businesses with grants ranging from $1 million to $5 million.
The initiative prioritises businesses owned by women, veterans, and individuals who lack social and economic support. It aims to encourage and promote business interest in people who have great potential but lack the opportunities to set up and run a venture due to prejudice.