Business Grants

BenC_2

Not sure if this is the correct section so apologies if it’s not.
I am looking for some advice on my business situation. I currently have a small company which is doing quite well, I have been running this company for just over 1 year now and I think it’s time to expand. I would like to purchase some new equipment which will cost a lot of money and also move house so I can purchase a bigger garage for my work space.

What I would like to know is, are there any business grants I could apply for that would allow the purchase of my new equipment quickly otherwise I will have to spend another year or more saving which could put my business ‘behind the curve’

Also I am curious and pretty clueless on claiming back tax through the business for certain items. I have been told I can get some things tax free that would help me, things like computer equipment, security on the workshop (garage) etc. Are there any websites I could read up that has detailed information?

Thanks in advance.
Ben

Savvy_Sue

Been away, doing a quick catch up, although this is more by way of a bump than anything else ...

Grants: very little out there.

Tax: talk to your accountant, and if you don't have one, get one, especially if your company is a ltd. Advice given here before is to talk to two or three: a large one, a small one and a medium one, get a quote for the service they'd offer, ask some questions, see what they'd save you. Generally, unless your affairs are VERY simple, they will save you money (and no, I'm not an accountant!!!)

CKhalvashi

Welcome back Sue, hope you're ok.

There's very little in the way of grants out there at the moment, especially as you've already been running a year.

HSBC were offering a Regional Growth Grant, however I have a feeling the funding has closed for a while. What are you doing, and what do you need? We run businesses across a number of sectors, so I can probably give you an idea of costings, if you haven't done this already.

Is there anyone renting the equipment you need? Again, the above info may be able to let me point you in the right direction. If I don't know, Sue probably will.

With regard to tax, it may be worth popping over to an HMRC workshop if you don't have an accountant, although if you are thinking of expanding, an accountant can be worth their weight in gold (my tax bill is usually 20-30% lower than I think it will be). An ex-HMRC accountant (which mine is) can be more valuable than that. See if you can get a free 30 minutes, which for an hours appointment will mean it's half price as an initial consultation.

Also, who are you banking with? It may be worth finding a bank that is a specialist in what you do for later on.

CK

BenC_2

Thanks for the information guys. I think the best thing for me to do is sit down with an accountant and see how to tackle tax.

As for the grants I will contact HSBC see if they can offer me anything and also barclays who I bank with see what the offer.

Thanks
Ben