So many people don’t realise there is more to governmental help than just government grants. Here is some information about other options for you and your business.
Grants can be a huge help
All small businesses, and particularly new businesses and enterprises require a lot of financial assistance in their first year of setting up or trading. Almost everybody who has ever set a business plan into motion has been shocked or surprised at the amount of hidden costs, unexpected expenses and problems which need to be fixed with cash that are encountered quickly, and can be disastrous if the funds are not there. As such, it comes as no surprise that government grants are in high demand, as any sort of grant can be a huge help in the turbulent early stages of business development. Nobody really likes taking loans from the bank or from private loans companies – when you are setting up your business, you want to be able to focus entirely on developing your ideas and your service or product, not worrying about making high interest repayments! However, it is true that government grants are not easy to come by, and not just because they are in such high demand, making competition fierce. There simply aren’t as many government grants for small businesses available anymore, but that isn’t to say they don’t exist.
Most people will tell you that looking for even small government grants can be like looking for a needle in a haystack, but if you keep your aspirations realistic, and look mainly in your local area, you can improve your odds of success when it comes to being awarded government grants. In fact, the central government consistently provides money to city halls, local councils and other county and city based institutions for the purpose of assisting small businesses and to encourage entrepreneurship. However, the problem of competition is never far away, and it goes without saying that as soon as a grant is offered, that institution will be quickly flooded with applications.
Incentives for business minds
Government grants for small businesses are intended to encourage small businesses to flourish, and to add an incentive for entrepreneurs to come up with fresh new ideas to add to their local and national economies. This innovation and development can quickly translate to job creation, and all sorts of value for the government through taxes and profits, and so it is in the government’s interest to assist new business ideas. When you take into account that small businesses and enterprises account for up to sixty percent of all business in the country, it seems a shame that there is so much red tape to navigate yourself through in regards to accessing government grants.
Don’t let anything pass you by
However, focusing your attention and knowing where to look can greatly improve your chances of success, and opening your eyes to different types of assistance can really yield great results that may have otherwise passed you by. Government help doesn’t start and stop with government grants, and there are many repayable grants, soft loans, free consultancy programs and technology transfers to name just a few of the ways the government can help you in your new business.