Business Grants & Support in Sussex
Businesses in Sussex are generally categorised into whether you are based in East Sussex or West Sussex, there are very different options available depending on where you are based.
It can be that a decision on where to register or have a correspondence address impacts on what funding is available to you.
It is also important to note that the business grant and funding support changes fairly frequently so keeping an eye on what is available is well worth doing even when you may not need funding immediately.
West Sussex Business Grant & Funding Support
There are a couple of good resources available for West Sussex based businesses. I am not going to list what is available as it will be out of date before it is read, instead here are the best places to research what is available to you;
West Sussex 4 Business – It is a council supported resource so can be a little slow to update, however it will point you in the right direction
Coast To Capital Group – A centrally supported initiative that links back into the private sector. It does cover funding as well as other business support, initiatives and growth assistance. Generally aimed at the larger company there is plenty of resources available on the site. If you are specifically looking for commercial lending and funding then it may be better to call us and use Coast To Capital to support the growth your funding will deliver
East Sussex Business Grant & Funding Support
Coast To Capital cross between east and west, for East Sussex business grant and funding then you may want to look at;
Lets Do Business Group – An organisation backed centrally that acts as an enterprise assistance hub and an access point to centrally backed funding. There are options available from start-up to growing businesses that are more established
Locate East Sussex – Similar to Lets Do Business. Operating solely in East Sussex they have access to central government funding and the website carries a fair amount of decent information
There are options available on the East Sussex Council website also, however if you click through it will likely divert you back to the associations above. Save a little time and go direct to where the information is.
The majority of grant or supported funding is done on a matched basis. This means that you need to have secured lending, investment or are putting in your own additional cash to a level that matches the grant funding sought.
Match funding can be 10%, 25%, 50%, 100% etc, meaning that they will match up to a set percentage of the money being put in yourself.
We often find that when sourcing lending there is a match funding the client is seeking, it is important for us to know this as it can determine how that finance is raised. If you are seeking match funding then please let us know at the outset so we can work with it in mind.
What To Remember
When you are looking at supported funding or business grants then it is worth remembering that;
The process is never quick and it will take time, bear that in mind when you start out as expecting funding to come through quickly via this route is unlikely to happen
Grant funding is not a bottomless pit of money, when it is gone it is gone. Make sure you apply when the opportunity is open and give yourself time to complete the paperwork
Preparation. Generally there are more questions asked when seeking grant funding than when seeking standalone borrowing. You will need to make sure your business plan, forecasts, past records and company affairs are in good shape. It is well worth doing this before you start the application process as you normally only get one shot
Any questions then please ask.
By Dave Farmer