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Last update 27/07/2024

Potential Funding Options in Wandsworth

Here are some potential avenues for business grants in Wandsworth:

Wandsworth Enterprise Hub:

Offers various grants for different stages of business development:
- Project Viability Grants: For early-stage project development.
- Project Development Grants: For capital project development costs.
- Crowdfunding Challenge Grants: Matches funding raised through crowdfunding campaigns.
- Transformational Project Grants: Supports large-scale, impactful projects.

Find more details and application information: https://wandsworthenterprisehub.com/

BIG South London:

A collaborative program offering support across South London boroughs, including Wandsworth.
Provides resources for innovation:
- Innovation Vouchers: Supports collaborations with universities for innovative projects.
- BIG Hot House Research Innovation Funding: Helps fund research and development.
Learn more and explore eligibility: https://big-knowledge.co.uk/

General Business Support:

Ignite: Offers free training, guidance, and events to help businesses grow in Wandsworth.
Get details on Ignite program: https://wandsworthenterprisehub.com/programme/wandsworth-ignite-programme/
Finance for Your Wandsworth Start-Up: Provides loan options for business owners.
Explore loan options: https://www.wandsworth.gov.uk/business-and-licensing/business-support/sources-of-finance-for-businesses/finance-for-your-wandsworth-start-up/

Remember:

Each program has specific eligibility criteria. Make sure your business qualifies before applying.
Understand the application process and deadlines for each grant program.
Different grants cater to businesses at various stages of development. Choose the one that best suits your needs.

This information is designed to be clear and concise. I hope it helps you find the perfect funding opportunity for your business!

For the most current information and to confirm the availability of specific grants like the Business Innovation Grants, it is advisable to contact the Wandsworth Council directly or sign up for their newsletters to receive updates on new funding opportunities. If you have any specific questions, you can reach out to the relevant departments via the contact details provided on their official pages.

The London Business Hub Grant Scheme is still available and provides various forms of support to small businesses in London. The scheme includes grants, advice, and other resources to help businesses grow and innovate.

For more detailed information and to see the latest available grants, you can visit the following resources:

Grow London Local: This platform is designed to provide small businesses in London with the support they need. It offers a comprehensive overview of available business support, including grants. You can access it at www.growlondonlocal.london.
London Business Hub: Another valuable resource for finding support programs and grants tailored to your business needs. Check it out at www.businesshub.london.
Greater London Authority: For information on specific grant programs and other support initiatives, you can visit the London City Hall website at www.london.gov.uk.

These platforms will provide you with the most up-to-date information on eligibility, application processes, and available funding opportunities for small businesses in London.

Checking Your Eligibility for Grants

To determine your eligibility, follow these simple steps:

Visit the relevant grant links provided above.
Read through the eligibility criteria mentioned on each grant page.
Note the specific requirements such as business size, type, location, and project you need funding for.
Ensure that your business meets all the listed requirements.

Typically, you will qualify if you are a legal business operating in Wandsworth and meet the specific thematic or project-related criteria laid out by the grant providers.

Application Process and Required Documents

Here is a comprehensive guide on how to apply for grants:

Step-by-Step Application Process

Prepare Your Business Plan: A detailed business plan that includes objectives, projected financials, and the specific project for which you seek funding.
Complete the Application Form: Fill out the application forms available on the respective grant websites.
Attach Required Documents: Gather and attach necessary supporting documentation, which usually includes:
- Business registration certificates
- Financial statements
- Proof of business address
- Project plan and budget
Submit the Application: Submit your completed application, either online or via mail as directed by the grant provider.

After submission, ensure you receive a confirmation and keep track of any additional steps or follow-ups required by the grant provider.

Government-Backed Business Loan Options

If you are considering loans in addition to or instead of grants, here are some government-backed options:

Start-Up Loans Scheme

This scheme provides government-backed loans, along with mentoring and support, to startups and new businesses. Loan amounts range from £500 to £25,000.

Start Up Loans Scheme

Business Finance Support from British Business Bank

The British Business Bank supports small businesses in the UK, including Wandsworth, with diverse financing options, including loans.

Business Finance Support from British Business Bank

FAQs

What are the typical amounts for Wandsworth Business Innovation Grants?
Typically, amounts range from £1,000 to £5,000.
Where can I apply for the London Business Hub Grant Scheme?
You can apply here.
How do I check my eligibility for these grants?
Read the eligibility criteria on the grant page and ensure your business meets all specified conditions.
What documents are typically required for a grant application?
Documents usually required include business registration certificates, financial statements, proof of business address, and a project plan and budget.
How do I get a business loan from the Start Up Loans Scheme?
You can apply here.
Is there any mentoring provided with the Start Up Loans Scheme?
Yes, the scheme provides both loans and mentoring support.
Can I apply for both grants and loans?
Yes, you can apply for both, as they serve different purposes and complement each other.
How long does it take to get a response on a grant application?
The response time varies depending on the grant provider. Typically, it can take from a few weeks to a few months.
Can market traders apply for these grants?
Yes, many grants are open to market traders, provided they meet the eligibility criteria.
Do these grants need to be repaid?
No, grants do not need to be repaid. However, you must fulfil the requirements and reporting obligations.
What happens if my grant application is rejected?
If your application is rejected, you usually receive feedback on why. You can reapply or consider another grant opportunity.
Are there any funds specifically for digital marketing?
Yes, several grants focus on digital marketing, including the London Business Hub Grant Scheme.
Can I apply if my business is a non-profit organization?
Eligibility for non-profits depends on the specific grant criteria. Check the grant descriptions for details.
Will applying for a business loan affect my credit score?
Yes, applying for a business loan can affect your credit score as it typically involves a credit check.
How can I ensure my application stands out?
Make sure your application is thorough, well-documented, and clearly communicates how the funding will help your business grow online.

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