Are you seeking financial assistance to start your new venture? Is the location of your business Northern Ireland?
Please do not be confused, as I have the right tips to ensure great results. Furthermore, you have to depend on various funding sources to set up your new business.
It may not be easy to gather all the capital in one go. However, with innovative strategies, you can open the desired business without any hassle.
Instead of making things complicated, it is better to settle with some sources for funding. The small business grants in Northern Ireland will support you considerably in these matters.
These grants are appropriate for new businesses or existing ones. Therefore, you can easily establish your business or expand the work base with the help of suitable sources.
In this blog, you will learn about the best business grants in Northern Ireland. This information will undoubtedly help you to obtain the required funds for your business.
Best Small Business Grants in Northern Ireland
1. Start-Up Accelerator
If you are of the age 16 years or older, you can choose Start-Up Accelerator as a suitable business fund. You can understand easily from the name that this fund will be ideal to launch a new start-up.
Furthermore, you will be eligible for this fund only if you are involved in full-time education. Explore your planned business idea and apply for the grant of £1,000.
The business grant is applicable when you work in your business for 16 hours or more.
Eligible Regions: Strabane District Council Area, Derry City
Qualified Amount: up to £1,000
2. From Student to First Sale
One of the beneficial small business grants in Northern Ireland is From Student to First Sale scheme. This is a fabulous option for the graduates.
However, to apply this scheme, you should take the move within six months of passing your graduation. It is an encouraging option for youngsters to become self-employed instead of searching for jobs.
Besides, it is essential to meet the respective criteria to obtain the benefit of this grant.
This implies that the applicant must have a minimum turnover of at least £2,50,000 during the last five years.
Moreover, out of the total sales, a minimum of 25% should be outside Northern Ireland. This is the single condition attached to get your application for this scheme approved.
Eligible Regions: Northern Ireland
Qualified Amount: Subsidy of £15,000 as salary
3. Elevate Programme
This scheme is specially designed for the micro-enterprises. Therefore, if you are owning a small-scale business, apply for this benefit.
This will help you to capture the cross-border markets and elevate your customer base. You will also get a panel of experts to get the correct guidance and suitable advice to improve your business.
Eligible Regions: Northern Ireland
Qualified Amount: Min £5,000
4. Innovation Boost
Want to spend the required funds on any innovative project? Please go for this excellent business grant option.
Only manufacturing and trading concerns can apply for this business grant.
Usually, this fund is applicable for two types of projects- one is on Process Development with a duration of 12 months, while the other is on service or product development with a duration of 18 months.
You can also hire competent personnel, being a graduate in technology, science, or any field of engineering.
Hence, you will get suitable help to strengthen your business and even improve the research and development department through appropriate technology.
Eligible Regions: Northern Ireland
Qualified Amount: £39,000 for 12-month project, £56,000 for 18-month project
5. Acumen Funding
Acumen Funding is a fabulous programme for small and medium-scale businesses.
You can create a stable source of income by hiring professional salespersons for your overseas markets. Therefore, this scheme aims at supporting you to penetrate other markets.
Eligible Regions: Northern Ireland
Qualified Amount: Up to £17,250 for full-time sales employees; up to £9,200 for part-time sales employees
6. Start-Up Seed Fund
Are you working for more than 16 hours a week for your own start-up business? Ensure that you get enough funding through the Start-up Seed Fund.
It is among the top-class business grants in Northern Ireland helping you to expand your operations further.
However, you are not eligible to apply for the same if you do not complete the Go For It Programme (i.e. working for at least 16 hours a week).
Eligible Regions: Greater Ballymena
Qualified Amount: £500
Conclusion
Are you willing to open a new business in Northern Ireland or grow your existing business in this part? I hope that the above article has given you all the information necessary to fulfil your wishes.
Moreover, the small business grants in Northern Ireland will enable you to implement some new ideas into your business.
Schemes like Start-up Accelerator, Acumen Funding, Elevate Programme, From Student to First Sale, and others can become a great support for your start-ups. Besides, your small business can grow in no time if you opt for these options.
FAQ
Is there any business grant for Research and Development in businesses in Northern Ireland?
Yes. The business grant applicable for Research and Development in businesses in Northern Ireland is Get Into R&D.
What grant is available for regional small businesses in Northern Ireland?
The regional small business grant in Northern Ireland available is the Vacant to Vibrant Capital Grant Scheme. It is applicable for all sectors with a grant amount between £2,500 and £25,000.
