13 Sep Small Business Grants in Hertfordshire
13% of the UK Government’s total expenditure was used to fund grants pre-pandemic. Researching grant options can be an overwhelming process, especially for small businesses that might not have done so before. So, we’re breaking down what benefits grants have for local businesses and how you can obtain one in Hertfordshire.
What Are Business Grants And What Are The Main Benefits?
A grant is a source of finance for a business usually provided by a Government or private organisation. Usually, it’s designed to help a business fund a particular project or achieve a specific goal. What makes them different from other finance streams is that they don’t require paying back over time. More often than not, small business grants are obtained on a regional level through local bodies.
The benefits of grants for small businesses include retaining full ownership of your business, not having to pay the money back and reducing start-up costs. These might include financial planning support, legal advice or marketing and promotional support, to name a few.
However, many grants come with strict eligibility guidelines. These are usually based on industry, location and business size. Therefore, thorough research is required to determine if a grant will apply to your business and its needs!
How To Find Grant Information:
When researching grant options available to your business, these resources are a great place to start and can be easily filtered by region:
Small Business Grants in Hertfordshire
If you are a small business located in Hertfordshire you might be eligible for one of the following grants, depending on your industry:
12 hours of free business support worth £1,400 including workshops, networking and more. The programme also offers grants from £500 – £3,000 to help cover start-up costs. This programme is available to any resident of Hertfordshire starting a business.
A bespoke management course at the University of Hertfordshire which is 90% government-funded and open to local business owners of over one year.
A £3m investment initiative by the Hertfordshire LEP to support SMEs who are reducing greenhouse gas by developing innovative technologies, products or services.
Local business support and grants of up to £3,000 for SMEs in Hertfordshire with 5 or more full-time employees. This scheme also offers a growth action plan including tips on recruitment, digital strategy and product development.
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