How to write a strong business grant application

As grants are funding that don't need to be paid back, they are popular for UK businesses. 
 
There are many business grants available from public and private sector organisations, with a wide range of objectives. Examples of business activities grants are provided for include: 

• starting a new company 
• research and development 
• exporting products or services overseas 
• innovation 
• recruiting staff 

Applying for a grant can be complicated and many schemes are highly competitive. Reading our tips below for how to write an effective application can help you be successful. 

This guide provides general tips. Be aware that many grants have specific and bespoke requirements that you will need to comply with to prepare an eligible application. 

Know where to look for business grants 

The first thing you need to do is find business grants to apply for. We’ve listed lots of options here and here, but other useful places to start are:

Government funding directories for England, Scotland, Wales and Northern Ireland.  

Innovate UK is a good place to look for grants to fund innovation projects.

Creative, arts and cultural businesses can contact the Arts Councils in England, Wales and Northern Ireland, or Creative Scotland.

Entrepreneurs running organisations with a social or community focus can try bodies like UnLtd and the National Lottery Community Fund. 

Another option is business award schemes which sometimes provide financial grants as prizes for the winners.  

Understand why you want a business grant 

Making sure you properly understand why you want a business grant will help you find the most appropriate funding. 

Think about your reason for needing funding. Is it just a general injection of cash that you’re looking for, or is there a specific activity which requires money? For example, you could be looking to launch a new product or service, expand your business into a new market, or develop new skills. 

Understand the criteria for business grants 

If you end up applying for a grant that your business isn’t eligible for, it will be a waste of your time. Therefore, it’s important that you do your research to find grants that are directly relevant to your business.  

Carefully read all the criteria and guidance for each grant that you track down to work out if it’s suitable for your business. Eligibility factors you’ll need to meet to be able to apply for grant funding include: 

• company size 
• sector 
• number of employees 
• turnover 
• location 
• founder demographics 

Many grants require the applying business to be a limited company, and you should also pay attention to any specific documents, such as a business plan and a cash flow forecast, that you need to include with your application. 

Lots of grants are match funded. This means they only cover a certain percentage of the costs of a business activity, so you’ll need to find the rest of money from other sources. 

While you’re reviewing the grant criteria, draw up a checklist of all the information you need. This will ensure you are better prepared when it comes to submitting your application. 

Write a compelling grant application 

Once you’ve understood the criteria and you decide to go ahead with the application, provide all the detail needed to communicate and convey why you are the right business to give the grant to. 

Missing out required information is a common reason for why grant applications aren’t successful, so make sure you address all the criteria and questions. You should explain clearly why you need the grant and how you will spend it. 

Leave plenty of time 

Grant applications can be very complicated and require a significant amount of detail. Make sure you have enough time to complete it and don’t leave applying until the last minute. This is particularly important if you must include information that you don’t immediately have to hand.  

To spread the workload, dedicate an amount of time each day or week to focus on the application. Set yourself calendar reminders.  

Many grant schemes allow you to input information online, save it and come back to it later. This can help you to better manage your time.  

Get assistance with applying for a business grant 

To ensure that any required documents, such as business plans and cash flow statements, are up to scratch, you can work with your accountant.  

You can also employ the services of a grant writer. These are experts with experience of writing applications that successfully lead to grants being awarded.  

Another way to get help with applying for a grant is speaking to other business owners who have received funding. Some grant schemes provide case studies of successful applicants who you could contact. You can also post on social media asking your contacts and followers for tips and ask questions of fellow attendees at business networking events.  

Review your business grant application 

Once you’ve finished writing your application for a grant, it’s vital that you thoroughly check it before submitting it to the funding body. Look for any spelling or grammatical errors, and make sure you’ve answered all the criteria and included all the required documents. 
 
It’s a good idea to ask someone else to proof-read your application as it can be easy to miss your own mistakes. 

Follow up with the grant provider 

Once you’ve submitted your application, following up with the funding body to check they’ve received it and asking them about the next steps can help your application to stand out and show that you are proactive. 

If your application isn’t successful and you aren’t provided with feedback as to why it was rejected, ask for that feedback. Knowing why you didn’t get a grant is very useful for any future funding applications that you make. 

How TaxAssist Accountants can help 

If you need any assistance in preparing the information required for your grant application, get in touch with our friendly team. Call us on 01206 576800 or use our online contact form. 

Date published 5 Jun 2024 | Last updated 25 Jul 2024

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

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