Business Grants Available in Hampshire
If you’re setting up a new business, or are an established company looking for additional funding, there are several grants available. These one-off boosts can make all the difference for SMEs, and can help with diverse needs – from consultancy and training to updating broadband connectivity and the purchasing of vital equipment. As you’ll see, some grants are specific for Hampshire businesses, others are available nationwide. Some are available to all trades; some are very business-specific.
Here’s our pick of what’s available, both regionally from local authorities and nationwide from Government bodies:
The Isle of Wight Rural Fund
This competitive fund has been running since 2016 and has just completed its fifth round so keep an eye out for when it next opens. The fund is available to rural SMEs and offers grants for capital expenditure of £2,500 to £50,000. All grants must be matched with private funds, and the monies granted used for business growth or to safeguard jobs. Importantly, the business must benefit the Isle of Wight’s rural community. For more information, visit Natural Enterprise.
Hampshire County Council’s Rural Communities Fund
The Rural Communities Fund supports rural communities, offering funding of up to £5,000 for community projects, parish councils and rural retailers. This is another 50% match funded programme, and the fund has strict eligibility criteria. Visit Hampshire County Council for more information.
Test Valley Business Incentive Grant
This incentive offers grants of up to £750 for new businesses opening up in the Test Valley. The grant is offered to full time, permanent businesses that are a sole source of income. To learn more about the grant, visit this link.
Small Business Grant Fund
The Small Business Grant Fund provides a one-off cash grant of up to £10,000 to businesses that pay little or no business rates (i.e. those eligible for small business rate relief, tapered relief or rural relief). The fund is open to all small businesses based in England and is a government scheme that’s managed by local councils. For more information, consult your local Hampshire authority website as application procedures vary.
Retail, Hospitality and Leisure Grants
Businesses operating within the retail, hospitality and leisure industries can apply for a cash grant of up to £25,000 per property under this scheme. Businesses need to have less than 50 employees and grants are awarded on a sliding scale, determined by fixed overheads. For more information, contact your local authority.
Local Authority Discretionary Grant Scheme
This scheme is aimed at small businesses not eligible for funding such as the Small Business Fund and the Retail, Hospitality and Leisure Grant. Amounts awarded typically range from £2,500 to £10,000. Once again, contact your local authority for further information on what’s available to you, eligibility criteria and how to apply for funding.
Gigabit Broadband Voucher Scheme (GBVS)
This scheme is designed to help rural SMEs upgrade their broadband. It’s open to businesses UK-wide and offers funding of up to £3,500. If you’re facing connectivity issues and it feels like you’re still using dial-up then this could be the scheme for you! Click this link to learn more about the GBVS, and whether your business is eligible.
Plug-in Vehicle Grants
As part of the Government’s drive for a greener environment, businesses that require cars, vans or trucks can apply for a Plug-in Grant. This offers funding toward the purchase of low-emission vehicles. Vehicles must meet certain performance criteria; for a full list of vehicles eligible for this scheme, visit this Gov.uk link.
New Apprentice Support Grant
We all know that the way to gaining industry-specific skills is often via an apprenticeship, especially within certain trades. This grant scheme is available for small construction firms and offers £500 to help with the start-up costs involved when taking on an apprentice. Again, this is offered nationwide. To find out more visit CITB.
Transport and Logistical Efficiencies (TALE) Grants
TALE offers two types of grants, and is specifically aimed at small and medium enterprises that operate within the logistics industry:
- TALE Lite – This grant is designed to help fund software and initial consultancy advice. Grants of £1,000 to £2,000 are available.
- TALE Grants – This scheme helps fund software, consultancy or the purchase of new equipment. Grants of £2,000 to £20,000 are available.
For further details, visit TALE Grants.
Innovate the UK
We couldn’t end this article without mentioning this heavy-hitting scheme. Innovate the UK offers funding and support and is available to all businesses, from new start-ups to large multi-nationals. The scheme is specifically aimed at fostering innovation and technology and grants of between £25,000 and £10 million are available. For more information, click on this link.
Although our list is by no means definitive, we hope it’s helped you find the financial assistance you need. As you can see, there are several grant options available if your business is located in Hampshire. If you also need to boost your SEO, then please don’t hesitate to contact us. We’re an SEO agency based in Hampshire and pride ourselves on forging and maintaining links with local businesses. You can get in touch via our website or contact us on 01252 217141, we’re here for all your SEO needs.
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