Grants: the basics
There are a number of factors which could affect your eligibility for a grant, including:
1. Location of your business
Each of the countries of the UK has its own range of grants available. Some areas get extra grants, for example because of social deprivation or high unemployment.
Some grants are also given by local councils to help local businesses.
2. Size of your business
You may only be eligible for some grants if your business is of a particular size, measured either by turnover or the number of employees.
Many grants are limited to small or medium-sized enterprises - typically those with fewer than 250 employees.
3. Your industry sector
Funding can be limited and subject to restrictions in certain sectors defined by the organisation providing the funding.
4. The purpose of the grant
Grants are often awarded for a specific purpose such as purchasing machinery, improving offices, increasing employment or developing export markets.
Grant bodies prefer to see specific targets and results - often compatible with their own objectives.
As well as making an assessment of the benefits of your project, the awarding body will expect a high level of commitment from you and your business and for the project to be commercially viable.
Whether you are eligible for a grant will depend on the terms and conditions of the specific grant for which you apply.
Search the Northern Ireland business support finder for grants, loans, expertise and advice for which your business may be eligible.