When it comes to launching a business, savvy entrepreneurs know that choosing the perfect location can have a huge impact on a company’s chance of success. But setting up in the right town or city could also mean the difference between securing thousands of pounds in local authority grants – or nothing at all.
Research* by online business resource The UK Domain can now reveal which of the UK’s Metropolitan Districts and London boroughs offer the most generous grants for UK startups and small businesses – and there’s a huge variation from council to council.
Of the 33 UK Metropolitan Districts that responded, just over half (54%) give out grants for small businesses or startups – with the other 46% either not offering anything at all, or directing businesses to alternative sources of funding.
The disparity in the availability of small business grants is no more evident than when looking at the capital. Of the 30 London boroughs who replied to The UK Domain’s Freedom of Information requests, seven of these (23%) offer grants to small businesses.
· In North London, Camden Borough Council and Islington Borough Council offer grants to help businesses reduce emissions.
· Ealing and Haringey councils offer grants for external regeneration.
· In central London, Southwark council offers early-stage grants to entrepreneurs, whilst Westminster offers funding towards broadband connection.
· Merton council can offer discounted rates to local businesses.