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Grants For Small Business and Self-Employed
For many entrepreneurs, the coronavirus pandemic has meant that income and cash-flow has been compromised. There is a range of financial support for those whose income has been affected with a number of grants for small business and the self employed. Funding options and criteria can be complex so we have simplified the process so you can easily check your eligibility below.
Grant Funding
The Freelands Foundation
The Freelands Foundation has announced a £1.5 million Emergency Fund as part of a landmark commitment of £3m towards emergency funds for artists and freelance creative practitioners across the UK in urgent need of financial support. Opening at 2pm on Thursday, 7th May 2020, the new fund will offer grants of £1,500 to £2,500 per person, assessed by need, with £1 million allocated for distribution in England.
Heritage Emergency Fund
The Heritage Lottery Fund have set up the Heritage Emergency Fund of £50m to support the UK heritage sector during Coronavirus. Suitable for Not-for-profit organisations who have, or have previously had, a grant directly from the Heritage Lottery Fund and who own, manage or represent a heritage. Grants of between £3,000 and £5,000 are available and applications are open until 30th June. Further information on eligibility and how applications will be prioritised can be found on their website.
Smallwood Trust
Smallwood Trust, which helps women to overcome financial difficulties and improve their social and emotional well-being. The grants are open for applications from women concerned about their income, employment or wellbeing. For details about eligibility, FAQs and how to apply, see here.
The Prince’s Trust and NatWest
The Prince’s Trust and NatWest have set up an Enterprise Relief Fund offering grants that can be used to maintain core business costs, as well as to meet any existing financial commitments such as invoices from suppliers and essential equipment. The grants will also support young people diversify their business so that they can respond to the crisis. Business owners aged 18-30 who set up their business in the last 4 years are eligible for grants from the scheme. Additionally, funding by NatWest, Social and Community Capital, a charity funded by NatWest, has announced £500k for social enterprises and community businesses.
The Arsenal Foundation
The Arsenal Foundation has set up a COVID-19 Local Community Response Fund, donating £100,000 to local charities and organisations that are supporting those most in need during the coronavirus crisis. Applicants should be running projects in Islington, Camden, Hackney, Barnet, Walthamstow and/or Hertsmere. The application form can be found on its website.
The Teaching Staff Trust
The Teaching Staff Trust provides financial support to individuals that have worked within the educational sector for at least five years. Applicants can include teachers, teaching assistants, nursery workers, caretakers and lunch supervisors. Grant payments can be used to help with bills, household costs, travel or other essentials. The application form can be completed via its website.
Find out about loans for small business and the self-employed.
Author: Uchechi Eke is the Founder of Meeting of Minds, an online community changing the way women of African descent connect and collaborate. With 56K+ followers across social media, the platform seeks to redress the lack of authentic spaces that equip women towards political, social, economic and cultural advancement. Uchechi is also a Management Consultant, working with national clients to achieve their growth ambitions. Through Business Development activities she provides 1:1 advice, delivers workshops, writes commercial and public tenders, and authors applications to grant-making trusts. Over the last 12 years, she has won £70M+ for her clients. To find out more about Meeting Of Minds, go to the website.
Main photo: Matheius Ferrero
