Small Business Grants: Planning for Success

There are a range of small business grants in Cornwall for you to choose from. There’s something for every type of business, regardless of industry or type, but planning is key.

How to Plan for Small Business Grants 

Before applying for any start up grants, you need to have a clear business plan that outlines your goals, objectives and strategies for success. This will give you direction, something to aim for. Your business plan should detail how grant funding will be used and how it aligns with your wider business strategy. It’s important to include information detailing your business’ unique value proposition, target market, USP and potential for growth.

Navigating the grant application process can be daunting and complex, which is why it’s beneficial to seek professional support from experts in business opportunities and scaling. 

Getting the Most Out of Business Start Up Grants in Cornwall 

It’s one thing to secure a small business grant in Cornwall, but it’s another to ensure that you’re getting the most out of it. Some of our tips for maximising the impact of your grant include: 
 

Use Funding Effectively

Once you've secured a small business grant, it's important to use the funding effectively and in a way that achieves your business objectives. One of the key ways to get the most out of your grand funding is to focus on scaling your business. You can use the grant to invest in key areas of your small business, focusing on areas that will drive growth and expansion.  

This could include hiring more staff, upgrading equipment, investing in technology, doing more marketing and advertising, or launching a new product. Cornwall’s small business grants scheme should be used in a way that will have the biggest impact on your business's success.

Track and Measure

To know if you are using your grant funding effectively, track and measure its impact. This should be done over time, and various factors should be looked at. Choose a handful of performance metrics to track - this will depend on what you are hoping to achieve, such as attracting more customers or boosting your sales - and monitor your progress to determine if you are getting a good ROI from your efforts.  

With this information, you can make data-driven decisions about how you are using the funding and if changes need to be made to achieve a better result.

Network and Connect

It’s a good idea to build relationships with grant providers, industry experts and other small business owners within your industry. Networking can help you stay informed about new grant opportunities, gain valuable insights and advice, and potentially open doors to additional funding sources in the future. It’s also an effective way of solidifying yourself as a key part of the sector.

Learn More About Small Business Support

Membership in the Chamber provides important resources and opportunities for your business to scale. Find out more about the support the Cornwall Chamber and what its community can offer your business today. Get in touch and speak to our team today