new small business - grants available???

nedden

Hello, I've just started a new small business (working from home) does anyone know of any grants available? .... it would be used mainly for small amount of equipment purchase and advertising.

I have tried my local business link ... they say that there is nothing available in my area and i'm too old for the prince's trust!

Thank you.

burbs_2

have you got an enterprise around your area? when i started my business i went to them and they gave me a list of every single place i could get a grant from. problem was i was still employed and running my business part time to start with so i could not get anything

nedden

Thank you for your reply, I think that enterprise is the same as business link which is to do with the government, they only make grants available in areas where they want to encourage people to start-up so they will employ local people, this in turn improves the prosperity of the area ..... the area that I live does not fulfil this criteria.

Business Link do offer some free one - day courses, but like you i'm continueing to do my day job as well, so miss out on anything available.....

I've searched everywhere that I can think of to find information on grants for new small business, no luck so far!! Thank you anyway!

Debt_Free_Chick

I would imagine that any grants available - and I believe there are few - are going to be prioritised to "those that need them most". I don't wish to be rude, but I would imagine that as you already work, those dishing out of the grants would possibly take the attitude that you have the means to fund your own business start-up.

No offence intended - and you may well have a very worthy case - but trying to look at this from the viewpoint of those who have limited funds to dish out to a long list of "worthy causes".

So .. I would not be too optimistic. Sorry

nedden

No offence taken!!! I would agree with you!!! ..... however as you imply everyone has their story to tell, and valid reason for extra assistance, and so far i've been glad of the help from my local business link, but start - up business grants are a post-code lottery and just because my new business is in an area that the government does not consider to be "in need" does not mean that everyone in this area can afford to survive the first few years of business start-up.

I certainly wouldn't expect or demand a grant and the normal criteria for applying is to submit a business plan which much stand up on its own merit.... the personal circumstances of the applicant are not considered.

Thank you for your reply.

WHA

I think you are approaching the grant issue in the wrong way - i.e. the way in which you think you could create a successful business, not the way in which the government and their quangos want to use the grant/tax policies for social engineering.

The advice I give to my clients is to find about about grants and tax reliefs long before they start putting their business plan together - even before deciding what type of business to start.

Due to the muddled thinking of the government and their agencies, they are biased towards the types of business "they like" in the locations "they like" and employing the type of people "they like". The fact that their restrictions are highly unlikely to create a healthy, prosperous long term business doesn't register with them.

As an example, at present, children's nurseries can be a little goldmine due to Government money (no wonder so many new ones are starting!!!). If you start one in the "right" area, i.e. disadvantaged, and employ enough people off the dole, you can expect tens of thousands of pounds to cover your start-up costs, wages bills, equipment and overheads. These grants last for up to 3 years - you need very little of your own capital - just a few thousand. Worse still, the grants aren't repayable if you sell up at a huge profit to the "Big players" in the industry - if you stay for 2 years, the capital gains tax on the profit will be very little indeed! Then, once it is up and running, you are virtually guaranteed a steady flow of children due to the Govt's "free child places" schemes. Of course, this will only last a few years, then no doubt, lots will close again once the Govt money stops, and people will be back on the dole.

However, if you try to set up a "middle class" type of business, such as internet/computing, legal/accountancy, marketing, etc - i.e. a more highly qualified type of profession, you'll get absolutely nothing - that despite the fact that your business is likely to grow relatively quickly, employ skilled people, and make lots of money (on which to pay high levels of tax).

From my experience, it is the firms without grant aid that struggle on to be long term, successful, but small. However, the firms with grant aid often grow quickly but have a very short life of 1-5 years, until the grants run out often because the "owners" have no real interest in the business, just the money they can make from the grants, short term. Unfortunately, the govt agencies are "judged" on very limited criteria - often simply number of people taken off the dole - not particularly useful - it would be better to judge them on the number of people taken off the dole who are still in employment 2,3,4 years later!

Alternatively, of course, they could simply scrap the entire "grant" structure, save a few million in wages/offices/pensions of their "advisers", and give more tax reliefs and red-tape exemptions to small and growing businesses - let "market forces" take over to create viable businesses independently of the state - but of course, the risk is that the "people" will not do what the govt "want them to"!

burbs_2

lets be honest they only give grants to people who dont work, have no qualifications and have no interest in doing a hard days work.

they want people like me to keep paying taxes etc so as they can keep giving more to people who cannot be bothered too work.

it annoys me that i got turned down when i was starting up and now i am succesful i have to pay out a fortune to keep these schemes alive

camstop

Well on the advertising, you'll get 50% for your web site i'm sure.


Ask your local business shop and they'll tell you whats on offer