EU Funding Schemes in a Nutshell
Many business owners ask: What funding schemes are available? For which funding scheme should I apply for in relation to my planned project? What is the process for obtaining funding? The Application forms are very complex, and I am having difficulty with filling it in, is there any help or support dedicated to this? How are the funds granted to the applicant?
In the series of blog posts published over the previous months, we have answered all of these questions and helped with making the process more easily understandable. In our blogs we aim to help business owners better understand how they too can benefit from the number of schemes available, what they can cover, and the process involved to get going.
There are different types of funding available depending on the project involved. This depends on the kind of project and requirements involved and can include:
- Cash grants
- Tax credits
- Loans and guarantees
Funding can be used to back a number of different projects aimed at:
- Business growth
- Diversification within the business
- Internationalisation and expansion
- Skills & knowledge development
- Research, development & innovation
- Start-up support
- Consultancy for helping with growth and strategy
Benefits of funding:
- When requesting a loan from the bank, the bank would be more forthcoming and can possibly also provide further financing knowing that the project is supported through EU Funding.
- Trough EU Funding one can initiate the project now with lower project risk and have a higher ROI due to the having a lower initial cost.
- There is the possibility to obtain no or low-interest loans and opportunities for cash grants and tax credits.
- Through various funding opportunities available, business growth will be possible.
- Obtain the funds required for the investment and simultaneously enable the growth and competitiveness of the business within its market.
How can business doctors help?
We know that SMEs often find it difficult and time consuming to track down funding and when they do find it, the red tape and form filling required means that it usually ends up on your ‘too hard’ pile and might not get attended to in a timely manner. We can help you obtain funding for business consultancy or strategy consulting services, on expansion and internationalisation, diversification and innovation, and much more, while we aim to make it as easy as possible for you.
In conclusion, although there are some additional processes and procedures to be followed, from our experience in general the benefits outweigh the negatives of applying for funding and can reap a lot of benefits for your business.
If you want to learn more, contact us on firstname.lastname@example.org to discuss how we can support you in obtaining EU or Government Funding for your project. Apply now for a FREE Business Health Check and we will look at your business and at what is needed for your projected goals and we will make sure to help pave your way for growth and further success.
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