What kinds of grants are out there? How can you find them? 

The good news is that there are lots of resources out there to help you find the right funding for you. Private bid writers will have their fingers on the pulse of the ecosystem but can often be costly, particularly if they are successful in securing grant funding for your business. 

As a starting point, you could consider reaching out to your local Growth Hub, chamber of commerce or local business networks, all of whom will have existing relationships with funders, or people in the know. Your accountant, law firm, library or other local businesses can also suggest where to look. If you're based in Greater Manchester, you can also explore support available through GM Business Growth Hub's Funding support service. 

The Government has a grant finder, or if you are looking at funding collaborative research and development, you could ask your local higher education institution about funding options. 

Can you talk about government-backed funding programmes? 

Government-backed funding typically comes in several forms, each serving a different purpose. 

Whilst the benefits of engaging with this type of funding can be significant for businesses, for example providing capital without having to give up equity, these programmes are competitive and specifically focused on defined outcomes, such as innovation, sustainability or job creation, often aligned to national priorities. 

Grants are perhaps the most well-known, offering non-repayable funding to support specific projects such as developing a new product, investing in equipment, or exploring new markets. Agencies such as Innovate UK and ARIA fund businesses to research and develop new products, services or processes, often covering a proportion of project costs and encouraging collaboration with other organisations. Some programmes will also offer mentoring and additional support. 

Businesses exploring grant opportunities may also benefit from speaking with GM Business Growth Hub's Innovation team, who can help identify suitable innovation funding opportunities and support available. 

Alongside grants, there are government-backed loans and finance schemes. These do need to be repaid, but they are usually offered on more favourable terms than commercial lending, sometimes with lower interest rates, longer repayment periods, or additional support such as mentoring. In many cases, the government provides a guarantee to lenders, reducing their risk and making them more willing to support businesses that might otherwise be declined. 

What about council grants? 

Regional funding will usually be aligned to your council's, local authority's or combined authority's economic development priorities, for example driving employment and upskilling opportunities, or opportunities for decarbonisation. 

They are often smaller in value but faster to access. However, they may still require match funding and a clearly defined project. 

What about grants and funding for start-ups specifically? 

At the earliest stage, start-up funding is less about scaling an existing business and is designed to de-risk early activity, allowing businesses to test and prove an idea. 

This is why a large proportion of grant funding available to start-ups is tied to innovation or feasibility, rather than funding day-to-day costs. For innovators, both Innovate UK and ARIA have grants aimed at testing and validating early-stage technology. For younger entrepreneurs, organisations such as The King's Trust provide small grants to test ideas. 

For many founders, the most accessible starting point is government-backed finance. Programmes like Start Up Loans are specifically designed to help individuals get a business off the ground, offering relatively small amounts of capital along with structured support such as mentoring and guidance. 

Founders at the beginning of their journey can also access start-up support through GM Business Growth Hub, including advice, workshops and specialist guidance designed to help develop and grow a new business. 

Alongside loans and grants, there is a growing range of pre-accelerator and accelerator programmes. These are often designed to help founders build the fundamentals of a business: developing a proposition, refining a business model, preparing for investment, and opening up a business to new and supportive networks. 

However, it's important to recognise that grant funding alone is rarely sufficient for start-ups. Instead, it tends to sit alongside other forms of early-stage finance, particularly equity investment or debt finance. 

Any other tips on how SMEs can access grants and funding successfully? 

Key things to consider when applying for grants and funding include competition for funding (some funders invest in a portfolio approach and, if your idea is too similar to another project already being funded, you may not be successful), legal considerations (for example, who will own the intellectual property from any innovations developed with this funding and understanding how the support contributes towards your state aid limit), ability to deliver (are the milestones associated with the project realistic given the resources you have?), and how you are planning to fund the next stage of your project. 

Typically, funders will expect grant funding to enable you to develop a product or service to a specific stage that allows you to secure additional funding, either through investment or revenue generation. 

Importantly, be prepared to report on the impact of your funding, as there will likely be a monitoring process in place.