Insights on Grant-Fundraising
Hello everyone! Last month, we had a wonderful gathering of small businesses and entrepreneurs at our “Introduction to Grant-Fundraising” session. I am excited to share some of the key questions that were asked during the session, along with our responses.
Key Questions from Our Participants
Question 1: “Have you ever encountered a grant aimed solely at startups, preferably without match funding?”
Response: Yes, I have. Typically, these grants come in the form of bursaries or awards through competitions aimed at startups. Corporates and development agencies often support such initiatives. However, local councils, government departments, and charitable foundations are key sources for actual grants for startups, typically ranging from £300 to £2,000. These grants often come with some form of business advice and may require match funding. Your best bet for finding such grants is to visit Grant Finder. In England, you can access this at your local Business & Intellectual Copyright Centre (BIPC).
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Question 2: “It is challenging to compete with established grant recipients. My newly formed CIC was rejected. What hope is there? What support can I get to review and improve my grant application for a higher chance of success? Are there free services that can appraise my application before submission?”
Response: Larger funders often provide support through FAQs, information sessions, and workshops. As a new company seeking larger grants, it may be beneficial to partner with an established organisation that shares your vision and has a solid track record.
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Question 3: “I want to organise an event for the LGBTQ community, and I am a limited company. Can I access grants?”
Response: There are many project grants available for limited companies; however, there are significantly more options for not-for-profits. If you plan to apply for grants frequently, consider why you are a limited company by shares and not a company limited by guarantee.
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Question 4: “Do grants affect future startup funding, or are they primarily for those who do not plan on equity financing in the future?”
Response: Investors appreciate grants. In fact, securing a grant can put you in a fantastic position for obtaining additional funding.
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I hope you found this information useful! For more insights, join us for the next “Introduction to Grant-Fundraising” session on November 26th to dive deeper and get answers to your questions.
You can book via this link: Introduction To Grant Fundraising – Hatch Ideas
