As a start-up it can be very difficult to get your business off of the ground. Many start-ups need a start-up business grant in order to get their ideas up and running. These are usually provided by private investors, or are government grants. Grants for small businesses can typically be hard to acquire, but recently the government has rolled out a new future fund.
What is the future fund?
The future fund is a new government grant. It is one of many grants for small businesses to help them get themselves up and running. After Covid-19, there were many difficulties in businesses starting up, especially new businesses. Luckily the government support for businesses has increased to aid them. In order to qualify for the fund, there are a number of requirements you need to meet, such as:
- Firms need to be based in the UK.
- Firms must be seeking at least £30m investment to help fund further development.
- The investment will have to be comprised mainly of private companies, with applicants needing evidence of secured commitments for 70% of their funding round.
- Firms must have evidence of previous success in raising £5m without state assistance, to show they are already growing significantly.
This fund has the ability to grant a business anywhere from £125,000 to £5 million in additional funding.
How we can help
If you are a start-up that has recently received a government grant or a regular grant for small businesses, it can be difficult to manage exactly where that money is going to go. Here at Carrington Blake Accountancy we have many skilled and expert accountants ready to help assist you in your start-up business grant. If you aren’t able to acquire a fund grant, then don’t worry! We’ll be able to help you form a business plan to assist you in acquiring the start-up business grant that you need. Contact us for more information now, or call us at 0207 537 6628