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USING GRANT FUNDING TO KICK START YOUR BUSINESS AFTER COVID-19



The pandemic has caused many financial problems for businesses of all sizes. From the multinational corporations to the sole traders, there are very few businesses that haven’t been impacted by COVID-19 in one way or another.


While the pandemic tore the country and economy apart, the UK Government quickly stepped up offering furlough schemes and grants to help businesses who were suddenly facing an uphill battle.


Over the past year, the Government has also given money to local authorities to distribute to businesses locally as another way of providing much needed support. Each local authority will have different schemes on offer and different amounts of money to offer. The requirements for each scheme vary as well. Some of these grants are still open for applications so it’s worthwhile checking out with your local council.


From April 2021, a new 'restart grant' will be available for businesses in England to help reopen the high street after lockdown. These grants will be administered by the local councils. Details on how to apply have yet to be published but it will be handled by local government so keep an eye on your local council's website


Where to look for grants:


https://www.gov.uk/business-finance-support


https://smallbusiness.co.uk/small-business-grants-uk-2548113/


Additional restrictions grant

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/966854/20210304_Additional_Restrictions_Grant_-_LA_guidance.pdf


What can you use the money for?


Depending on any specific criteria, some grants stipulate exactly what you can and cannot use the funding for whilst others are more generic. For example, some grants specify that the funding is to be used to develop your business so you could use the money for marketing activities, technology upgrades, training and development or to get expert advice and support on an area of your business that would help you take your business forward.



Use your grant money to grow your business


As a Virtual Finance Director, I work specifically with small and medium sized businesses to take the business forward, increase sales, improve profitability, manage the cash and give hands on support to deliver the goals and ambitions.


You could use grant funding to pay for my services. If you are unsure as to which grants might be suitable for your business, I would be very happy to have a chat with you.


Don’t put off applying because you might miss out!


If you are interested in applying for a grant then I recommend you get started now as some of the pandemic related ones won’t be available for very much longer.

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