New Business Start-up grants

GLEKA

Hi,

I've got my own small business (2 yrs old) and also what i think is a great idea for another innovative internet business. However I cant afford to fund it myself, i dont want to ask friends or family for the money, and i dont want to borrow at the outset for the start-up phase.

I'm told there are government grants available - but when i talk to say businesslink, they are quite frankly rubbish!.

Can anyone offer some advice here please? specifically, I would love to hear from anyone who has been sucessful in securing government grant funding to support their own start-up business idea.

The_doomed

also interested in this. Going to be putting business plan together for web-based service business and whilst private funding is avialable (if i can provide a good business plan), all gants are welcome!

Mark7799

There is a popular misconception that there are lots of government grants about for businesses. In most cases this quite frankly isn't true. Where there are grants available, these will tend to be only for business in certain sectors (whatever seems to be flavour of the month e.g. IT, manufacturing, environmentally friendly etc).

Before applying for any grants you will need to have a fully written out and costed business plan detailing how you have arrived at the sum of money you need to get the business established. Any grant you ask for is never likely to account for more than 50% of your figure. I know that the first poster said they didn't want to borrow or ask friends or family for the money but if you aren't prepared to take some risk, there's no way any public body will back you.

Grants are also likely to be only for certain items of expenditure e.g. tangible fixed assets/equipment - vehicles and working capital rarely qualify. Be prepared to have to jump through quite a few hoops.

If you are in England, I would still suggest businesslink as the place to go - on line you could try https://www.j4b.co.uk - in all cases you need to get working on your business plan.

Somerset

Interested in this one myself.

Mark7799

Adding to my original post, if you are under-31, there may be a possibility of funding from the Prince's Trust

The_doomed

Just to add, im 22 in scotland

Mark7799

Try here for starters then http://www.bgateway.com/