The Grant Maze
With over £5 billion worth of support available for UK businesses delivered at local, regional, national and European level, it is no wonder that individuals and owners of small to medium sized businesses get confused with Grants. The Department for Trade and Industry alone has over 2000 schemes to support businesses; and when you add the other Government departments such as DEFRA, Education, Health and Ministry of Defence, each of which operate similar grant schemes for Small and Medium-sized Enterprises (SME’s), it becomes more of a labyrinth than a maze.
But why do these departments and agencies want to support businesses with grants? Quite simply SMEs are the wealth creators in the developed world. They employ staff, and it is they who add value to the services and products they provide. By doing so they generate revenues by which governments raise taxes. Some of these taxes are returned to the business community in the form of business support schemes or Grants.
One of the most exciting areas for this support is in Research and Development. European Governments have consistently invested billions of Euros into encouraging individuals and SMEs to innovate new products, processes and services. Most, if not all, EU countries recognise the effect globalisation has had on their manufacturing industries. The export of jobs to areas of low labour cost has meant that developed economies simply have to be at the forefront of innovation to remain in business.
Grant funding for inventions now available
The UK has an enviable track record for inventing world-beating technology and being innovative. You only have to think of the jet engine, the computer, penicillin, television and telephones to realise the impact British inventors have had on the modern world. Sadly it is another story when considering the commercilaisation of these ideas into successful business models. So often the idea is taken from these shores and made to work elsewhere
This is where Ideas into Profit can offer a joined-up solution to getting the concept properly funded in the early development phase, making alliances with innovators - the inventor and the manufacturer - to maximise budgets. These budgets can be supplemented by grants typically ranging from £2,500 up to £100,000 to prove an idea works, protecting it through patents and developing a plan for its commercial exploitation. We help you navigate the grant maze allowing the innovators to concentrate their efforts on turning their ideas into profit.
Ideas into Profit uncover the right grants
for you to get your venture started.
Would you like to find out if your idea is eligible for grant funding? Ideas into Profit can offer an initial search on your behalf. E-mail us to find out how we can help you obtain funding to turn your idea into a profitable reality.
