The state of UK business grant funding
Here is the latest roundup of the new grants and funding schemes for UK businesses that were released in March 2021.
Total number of new grants and funding schemes added in the month:
Over the past month 276 new schemes were added to Xsortal, bringing the total number of Grants and Funding Schemes available to 3,706. Businesses in the UK have access to a pool of Grants and Funding Schemes worth £1.5 billion allocated across 10 funding purposes.
This month it is very much the case that COVID related support grants made up 60% of the total added, following on from a trend that has happened for the last several months. A lot of these were related to the Lockdown Restrictions Support Grant series of schemes as many businesses across the UK were still unable to open for trading.
New schemes added by region
- Top Regions: The South East (248), East Midlands (194) and London (191) saw the most funding schemes added this month
- Bottom Regions: Northern Ireland (37), Wales (44) and the North East (74) were the areas with the least new funding schemes this month
Funding added by region
- Top Regions: The North West (£60.2m), West Midlands (£59.3m) and the South East (£58.7m) saw the highest funding levels this month
- Bottom Regions: Scotland (£44.7m), Wales (£57.9m) and Northern Ireland (£58m) saw the lowest funding levels this month
New schemes added by sector
- Top Sectors: Manufacturing (977), Other Service Activities (951) and Accommodation & Food (950) were the sectors which saw the most schemes added this month
- Bottom Sectors: Health & Social Work (1) and Construction, Education and Public Admin (4 in each sector) saw the least schemes added this month
Funding added by sector
- Top Sectors: Professional, Scientific and Technical (£31.4m), Transport & Storage (£6.6m) and Admin & Support Services (£4m) were the sectors that saw the most funding added in the month
- Bottom Sectors: Health & Social Work (£2,000), Construction (£3,388) and Education (£16,800) were the sectors that saw the least funding added in the month
New schemes added by business type
- Top Business Types: Small Business (1149), Micro Business (1,116) and Medium Business (1,092) were the business types eligible for the most schemes during the month
- Bottom Business Types: Start-ups (14) and Large Business (38) were the business types eligible for the least schemes during the month
New schemes added by amount available
- Top Funding Bands: £1-£9,999 (1034), £10,000-£24,999 (37) and £25,000-£49,999 (8) were the funding bands with the most schemes falling into them this month
- Bottom Funding Bands: £500,000 – £999,999, £150,000 – £199,999 and £100,000 – £149,999 were the funding bands with the least schemes falling into them this month with only 1 scheme in each band
Reason for Funding Band Distribution: Due to the high level of businesses that need financial support due to closures and disruption because of Covid lockdown restrictions funding is highly concentrated within the £1 – £9,999 bracket with those in the SME sector needing the most support and receiving on average thousands each. The Government has to focus the bulk of the funding pool allocation on this until businesses can make a recovery and sustain themselves.
To keep up to date with the latest Grants available for your business