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 May 2021.
Total number of new grants and funding schemes added in the month:
Over the past month 292 new schemes were added to Xsortal, bringing the total number of Grants and Funding Schemes available to 4,435. Businesses in the UK have access to a pool of Grants and Funding Schemes worth £1.6 billion allocated across 10 funding purposes.
This month it is very much the case that COVID related support grants made up 71.2% of the total added up, following on from a trend that has happened for the last several months. A lot of these were related to a continuation of the Restart Grant schemes and related reopening the economy Covid support schemes, as many businesses across the UK were getting up to speed with trading as further restrictions were lifted.
New schemes added by region
- Top Regions: South East (181), West Midlands (143) and South West (128) saw the most funding schemes added this month
- Bottom Regions: Northern Ireland (51), Scotland (67) and London (69) were the areas with the least new funding schemes this month
Funding added by region
- Top Regions: West Midlands (£169.1m), South East (£166.6m) and the South West (£165.9m) saw the highest funding levels this month
- Bottom Regions: Wales (£160.4m), Scotland (£160.5m) and Northern Ireland (£160.6m) saw the lowest funding levels this month
New schemes added by sector
- Top Sectors: Manufacturing (450), Admin & Support Services (440) and Accommodation & Food (435) were the sectors which saw the most schemes added this month
- Bottom Sectors: Electricity, Gas, Steam and Air Conditioning (136), Mining & Quarrying (136), Water, Sewerage and Waste (136) and Public Administration, Defence & Social Services (136) saw the least schemes added this month
Funding added by sector
- Top Sectors: Health & Social Work (£167.7m), Manufacturing (£166.4m) and Professional, Scientific & Technical (£164.1m) were the sectors that saw the most funding added in the month
- Bottom Sectors: Electricity, Gas, Steam and Air Conditioning (£158.1m), Mining & Quarrying (£158.1m), Public Administration, Defence & Social Services (£158.1m) and Water, Sewerage and Waste (£158.1m) were the sectors that saw the least funding added in the month
New schemes added by business type
- Top Business Types: Small Business (580), Medium Business (557) and Micro Business (542) were the business types eligible for the most schemes during the month
- Bottom Business Types: Academic (3), Research Organisation (3) and Start-ups (28) were the business types eligible for the least schemes during the month
New schemes added by amount available
- Top Funding Bands: £1-£9,999 (294), £10,000-£24,999 (226), £25,000-£49,999 (12) and Greater than £10m (12) were the funding bands with the most schemes falling into them this month
- Bottom Funding Bands: £150,000-£199.999 (0) and £500,000-£999,999 (1), £250,000-£499,999 (2) and £200,000-£249,999 (2) were the funding bands with the least schemes falling into them this month
Reason for Funding Band Distribution: Due to the high level of businesses that need financial support to help them with the phased re-opening from Covid lockdown restrictions funding is highly concentrated within the £1-£9,999 and £10,000-£24,999 brackets. Most of these are in the SME sector needing the most support and receiving on average thousands or tens of 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 as the UK safely comes out of Covid restrictions.
To keep up to date with the latest Grants available for your business