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How can the government help me establish a new business?

How can the government help me establish a new business?

Funding from banks is very difficult to come by nowadays and you might find that even with a very well written and robust business start up plan you get turned down for a loan. Jobs working from home don’t always get afforded the respect they deserve by banks and it is here that a government grant might come in useful. Government grants are not exactly easy to come by, but they are not governed by the same criteria as the banks and so you are still not sure to get one, but if you fill various sectors as an employer or entrepreneur you may qualify.

The path to a government grant is not an easy one, with a whole raft of forms to fill in, but if you are successful you can use the fact that you have won a government grant can be used as a business tool on your website and business stationery. Grants are not usually very large – typically around £1000 for a small business start up – but they can make all the difference. The one thing that is absolutely essential before you apply for a grant or assistance of any kind is to have an absolutely copper bottomed business plan. It really is the most important thing you will do to get your business off the ground; it is all very well to have ideas to work for yourself, but unless you can commit it coherently on paper and present it well, it will all be to no avail. Some grant givers like a video or live presentation. You might not like this kind of thing, but you need to bite the bullet and get it done to a high quality. When you are enjoying the flexible working that being self employed brings, you will be glad you worked hard at this start up stage.

Home working in the UK is a growing business sector and the government are waking up to the fact that this kind of small business holds the key to the economic recovery of the country. You can get a lot of help when it comes to making life easier for your staff to work for you, from help with child care to apprenticeship schemes. If you are running a business which has solid green credentials, you can apply for a grant in this sector and these can be put to any use, though obviously investing in greener technology would be the best avenue. With self sustaining energy sources growing in efficiency, adding solar panels or a small turbine would not only help with your day to day expenses, but could even generate a small income along with the power. The main thing when looking for government backing in your quest to work for yourself is to make sure that you are serious in your mission to improve your life and hopefully those of others. The quest for increased income is not something the government seeks to discourage obviously, but if you can show that you are helping the community as well, you are more likely to succeed.

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Where do I start looking to get these forms for a government grant?

Editor: see http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1073866776 for more information.

Anisha Soni | Report this comment

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