Growth Fund Grant

osgoodt · 27 September 2018 at 1:12PM

Hi, I would like advice on how to check out a grant offer to start up a small business. The application process was very easy (phone calls) and didn't require a business plan. An offer has been received from another company, but would like to know how to check that it is all legitimate. The terms and conditions don't mention any targets that need to be met and is very vague. It also specifies that you have to use a specific bank and put in 30% of the project funding yourself.

00ec25 · 27 September 2018 at 8:21PM

yes what you describe is a funding model used by certain public sector organisations to support new businesses

it is also a model emulated by those scamming you out of the 30% you'll never see again because the bank account will close the second your money arrives

but then presumably you already suspected that, hence your question?

CKhalvashi · 28 September 2018 at 6:57AM

Grants are unlikely for a startup business and in most areas of the UK are hard to come by,

If looking for financing for a startup, try Startup Loans, which is funded by the government and allocated by independent business organisations. Here is the website: https://www.startuploans.co.uk

There is a business growth fund, however it’s unlikely to be suitable for a majority of businesses, especially startups. Here is a link from one of the banks: https://www.business.hsbc.uk/en-gb/finance-and-borrowing/credit-and-lending/business-growth-fund?DCSext.nav=foot-mat

The British Business Bank, which is owned by the government, can provide information on a wide range of funding options. https://www.british-business-bank.co.uk

Growth Fund Grant

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