1. Grant Tiers

Tier 1: £5,000

Tier 2: £10,000

Tier 3: £25,000

2. Eligibility Criteria

Applicant: Must be a registered business in the United Kingdom.

Business Type: Applicable to sole traders, partnerships, and limited companies.

Business Age: Must be operational for a minimum of 6 months prior to the application date.

Location: Business must be based in the UK.

Financial Status: Businesses should not be in administration or bankruptcy.

3. Application Requirements

Application Form: Complete and submit the official grant application form.

Business Plan: Provide a detailed business plan outlining objectives, strategies, and financial projections.

Financial Statements: Submit recent financial statements, including balance sheets and profit & loss accounts for the last 12 months.

Proof of Identity: Include copies of valid identification for the business owner(s).

Proof of Business Registration: Provide a copy of your business registration documents.

Tax Compliance: Proof of up-to-date tax payments and compliance.

4. Grant Use

Permitted Uses: Funds may be used for business expansion, equipment purchase, staff training, marketing, or other operational needs as outlined in the application.Restrictions: Grant funds may not be used for personal expenses, debt repayment, or non-business-related activities.

5. Reporting and Accountability

Progress Reports: Recipients must submit quarterly progress reports detailing the use of funds and progress towards objectives.

Financial Reporting: Provide detailed financial reports upon request, showing how grant funds were allocated.

Site Visits: The UKBA reserves the right to conduct site visits to review grant fund usage and business operations.

6. Terms of Grant

Disbursement: Funds will be disbursed in one lump sum or as agreed upon with the UKBA.

Repayment: Grants are non-repayable provided the terms and conditions are met. Failure to adhere to terms may result in a demand for repayment.

Duration: The grant must be utilized within 12 months of disbursement unless otherwise approved by the UKBA.

7. Compliance and Audits

Compliance: Recipients must comply with all applicable laws and regulations.Audits: The UKBA may conduct audits or reviews of grant usage and financial records.

8. Amendments and Termination

Amendments: Any changes to the grant usage plan must be approved by the UKBA.Termination: The UKBA reserves the right to terminate the grant agreement if the recipient fails to comply with the terms and conditions.

9. Confidentiality

Information Disclosure: All information provided in the application will be treated as confidential and used solely for the purpose of grant assessment and management.

10. Dispute Resolution

Disputes: Any disputes arising from the grant agreement will be resolved in accordance with UK laws.

11. Application Deadline

Submission Date: Ensure all application materials are submitted by the specified deadline. Late applications will not be considered.

For questions or additional information, please contact the UKBA.