In any hierarchy of desires, getting something for nothing must rank pretty highly.

But is there such a thing when it comes to funding?

Even friends and family, if they have supported your new venture, will probably expect something back if (sorry – when!) you make a success of it. Just imagine the conversation Aunty Gladys has with her favourite nephew when he turns up in his new Jaguar for tea, and he hasn’t even paid her £2,000 back!! And asking why she hasn’t got the usual Battenberg cake for the visit may be the straw that breaks the camel’s back – the pension doesn’t stretch so far now, don’t you know.

Grants are probably the closest to this ideal – you usually don’t have to pay them back in absolute terms, and there may not be too many strings attached to them.

And there are quite a lot available – but you need to look for them.

The snag, if there is one, is that they will almost certainly be tied to some purpose which is regarded as being for the common good, or alternatively for a well-advertised political ideal (the two may actually coincide, but I wouldn’t necessarily guarantee it!) – and sadly that is unlikely to include bailing your business out because it’s a bit short for meeting the wages this month.

So what do you need to be doing to get one? The main activities which stand a chance (although this is not all inclusive) are:

·         Social – if your business has a clear social purpose it has a very good chance of getting funding with the right sponsor.

·         Employment – if your venture has the promise of generating jobs in an area which has a high level of unemployment, then local authorities may well be kindly disposed towards you.

·         Technology – one of the best areas after employment and through the TSB – the Technology Strategy Board, not the Trustee Savings Bank (although the latter may well administer it for all I know!).

·         Arts – although Arts funding has taken a battering over the last few years, it is still possible to find funding in this area.

·         Exporting – UK Trade & Investment are going to considerable lengths to support the government’s desire to have a recovery led by exporting, and there has been a lot of recent press coverage about the fact that SMEs are not jumping onto this bandwagon.

So how do you go about it?

As with so many things, there is no substitute for doing a lot of research – and the internet is clearly the place to start. But do think about why you should get support, and try to put yourself into the mind-set of the people who will make the final award – does your business fit into any of the categories above? Are you sure?

When you find a likely source (you’re now sure your business fits the requirements) you will probably still need to work hard to qualify, and probably the best format for that is by the production of a clear business plan which demonstrates how you will satisfy their criteria – and if it doesn’t succeed in this instance you will have prepared a document which will stand you in good stead for other interactions with the funding world.

Also, don’t forget that there are other types of assistance available which may be of considerable use – such as funding for training through, amongst other avenues, the Government Growth Voucher scheme.