Government and charity support

Government support

Governments can support enterprises by creating policies that encourage business growth, and grants — money given for a specific purpose that does not need repaying — are often available for costs such as equipment or training. Government decisions also affect enterprises: interest rates change loan repayments, tax rates change profits, foreign policy such as trade rules affects importing and exporting, and unemployment affects wage costs and customer demand.

Government support can provide financial and technical help, especially to first-time entrepreneurs. Some government departments also offer mentors and training, which build know-how and confidence alongside any money provided. Support is not only money: advice and training can matter as much as a grant.

The limitations of government support include information overload, because too much guidance can be hard to use. Support requirements may need to fit the government's agenda rather than your own priorities. Grants are also usually limited in amount, number and type.

Charity support

Some charities are set up to support local businesses, young entrepreneurs or enterprises trying to achieve specific goals. They may provide advice, direct help, training, financial support or investment, and can raise awareness of an issue.

Charity support can be zero or low cost and tailored to specific needs, so the help fits your exact problem. It may give access to a business adviser or mentor, and specialists can offer reliable, impartial help. For example, a charity that supports small craft businesses might give a jewellery maker free advice from a marketing volunteer and a small grant towards a stall at a craft fair.

Charities are limited by funding and are often specific about who they can support. Government and charities may provide training, mentoring and grants, but you must check eligibility and availability.