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Common questions about grant funding answered -
Background
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For the United Kingdom we have some 1,250 different grants on the database provided by UK national organizations or European Union sources.
In addition, there are some 3,000 "grants" provided by local councils, economic development units, enterprise agencies and other specific local bodies.
Nobody, to our knowledge, has ever calculated the total value but the European Union Research & Development Programme ‘Framework 7’ running from 2007 to 2013 has a total value of 56 billion Euros! |
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Common questions about grant funding answered -
Background
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No, under no circumstances. A grant, in the strict sense, will be an outright gift of cash, but it is given on condition that agreed criteria, particularly purposes and objectives, are met. "Grants" may also be taken to mean: -
Soft loans which will have, typically, an interest rate rebate and/or a capital repayment holiday and/or a reduction in collateral requirements.
Subsidized services or the provision of free information and advice.
Tax credits e.g. for rate relief or R&D are also a form of grant. |
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Common questions about grant funding answered -
Main purposes
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(this list is indicative not exhaustive)
Capital investment, job creation and productivity
Grants for capital investment either from the United Kingdom or the European Union are almost invariably connected to the creation or sustaining of employment. It is therefore essential that you specify how many new jobs are to be created or, as a minimum, how many old jobs will be protected. Capital grants are usually only available where there will be regional or national benefit as a result of the project.
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Common questions about grant funding answered -
Eligibility criteria
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The key eligibility tests and criteria that must be met are given below.
1) The purpose(s) for which the grant is being offered must be met by your project. The purpose may be very tightly defined e.g. ‘basic research into imaging technology for medical devices for blood screening’; or broad as in ‘increase productivity and/or employment’.
2) The size of your business. Some grants are only available to businesses of a certain size e.g. small or medium size businesses (SMEs). Often, even when open to businesses of any size, SMEs may receive favourable terms or special treatment.
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Common questions about grant funding answered -
Size of business
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Is size important or why do the large companies seem to get most of the money?
The large companies get most of the money because they have specialist departments that do nothing other than chase grants. Furthermore, their projects are naturally larger and therefore attract publicity.
In fact almost all grants, particularly those from the European Union, have specific clauses that favour small and medium size enterprises |
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