Business Grants North Tyneside

How to find and apply for a grant

Before you begin searching for grants, clearly define your business's needs. Are you looking to launch a new product, expand operations, conduct research, or foster innovation? Different grants cater to various business aspects, so pinpoint your requirements to narrow down your search.

Starting or expanding a business often requires a substantial financial investment. While traditional methods of funding like loans and personal savings remain popular options, another avenue worth exploring is business grants.

Where to look

Business grants, where available, are funds provided by various organisations, including government agencies, private foundations, and corporations, to support entrepreneurs and businesses but don't forget that they are also designed to help them achieve their own objectives. A list of places to look can be found lower down the page.

How to win a grant

Thoroughly Read the Guidelines:

Each grant will have specific guidelines and eligibility criteria. Carefully read through these requirements and ensure your business qualifies before investing time in the application.

Prepare Required Documents:

Gather all necessary documents before starting the application process. Common requirements include a business plan, financial projections, details of key team members, and a clear description of how the grant will be used.

Craft a Compelling Narrative:

Your application should tell a compelling story about your business and its potential impact. Clearly communicate your business's mission, objectives, and how the grant will add value.

Demonstrate Alignment:

Showcase how your business aligns with the goals and objectives of the grant provider. Highlight the ways in which your venture contributes to economic development, job creation, or innovation.

Financial Clarity:

Provide a transparent and realistic budget detailing how you intend to utilise the grant funds. Demonstrating a clear financial plan increases your credibility and chances of approval.

Attention to Detail:

Pay close attention to formatting, grammar, and presentation. A well-organised and error-free application reflects your professionalism and dedication.

Letters of Support:

Obtain letters of support from industry experts, partners, or customers. These letters can bolster your application by providing third-party validation of your business's potential

Submit Early:

Don't wait until the last minute to submit your application. Technical glitches or unforeseen circumstances can arise. Submitting early gives you time to address any issues that might arise.

Applying for business grants is a competitive process, and rejection is a possibility. However, don't be discouraged by setbacks. Use any feedback you receive to improve future applications. Persistence and refinement are key to eventually securing the funding your business needs.