Business Grants in Northern Ireland

For many entrepreneurs in Northern Ireland (NI), securing funding is one of the biggest obstacles. The region faces what the British Business Bank called a “funding gap”. The tide is starting to turn though, thanks to the emergence of alternative lenders, as well as business grants and start-up grants, all designed to help promising young businesses.

While grants might initially seem like the most attractive option, given that they don’t need to be repaid, they do have downsides when compared to loans.

‍

Why Consider Business Grants in Northern Ireland?

There are a wide range of grants available for businesses in Northern Ireland, tailored to different sectors and stages of development. Most commonly, they’re designed to reduce the financial burden or risks associated with launching a new product, entering a new market, or investing in cutting-edge technologies.

This makes them an invaluable resource for startups and established businesses alike. Grants are often aimed at encouraging businesses to engage in activities that benefit the wider community or contribute to regional economic development.

As a result, many grants have specific requirements, such as focusing on innovation, environmental sustainability, or job creation. While the competition for grants can be significant, the benefits of securing funding may outweigh the time and effort required to apply.

Here’s a look at the types of grants available in Northern Ireland.

Types of Business Grants Available in Northern Ireland

1. Invest Northern Ireland grants

Invest Northern Ireland (Invest NI) is the primary government body responsible for supporting business growth and innovation in the region. It offers a variety of grants and funding programmes for businesses across different stages of development.

• Innovation vouchers: Designed to help small businesses access research and development (R&D) expertise. Grants of up to £5,000 are available to help companies develop new products, processes, or services in collaboration with academic institutions or other R&D providers.
  
• Export development grant: Aimed at businesses looking to expand into international markets. The grant covers activities such as market research, promotional material, and trade show costs. This can be a valuable resource for small businesses looking to scale beyond Northern Ireland.
  
• R&D grant: Provides funding to businesses engaging in research and development projects. Invest NI offers both non-repayable grants and repayable funding options, depending on the size of the company and the scope of the project.
  
• Accelerator programmes: Invest NI offers funding through various accelerator programmes that support startups and businesses in high-growth sectors such as technology, manufacturing, and life sciences.

For more details, visit the Invest NI Support for Business page.

2. Rural Business Development Grant Scheme

The Department of Agriculture, Environment and Rural Affairs (DAERA) administers the Rural Business Development Grant Scheme (RBDGS). This grant is aimed at businesses based in rural areas of Northern Ireland, providing funding for a wide range of activities, including:

• Business expansion and diversification.
• New product development.
• Improving business efficiency through new technologies.

Grant amounts can vary, but they typically cover up to 50% of eligible project costs, with the business required to contribute the remaining 50%. To apply, businesses must show how the project will have a positive impact on the local rural economy.

For further information, check the RBDGS General Guidance Notes.

3. Community Foundation for Northern Ireland Grants

The Community Foundation for Northern Ireland offers a variety of grants aimed at community-oriented businesses – particularly those with a social impact. These grants focus on supporting projects that improve local communities and contribute to general wellbeing.

• Social enterprise grants: Aimed at businesses that have a clear social mission, such as those focused on education, health, or environmental sustainability. These grants can help social enterprises expand their reach and impact.
  
• Small grants programme: A flexible funding scheme that supports a wide range of initiatives, from capital investment to capacity-building activities for local organisations.

Visit the Community Foundation NI website for more information.

4. Other regional and local grants

Northern Ireland also offers a number of smaller, local grants designed to support specific sectors or business activities. These include:

• Sustainability grants: Supporting businesses that are implementing green technologies or sustainable practices.
  
• Technology and innovation grants: For businesses in tech-driven sectors, these grants can assist with the development of new software, products, or services.
  
• Cultural and creative grants: Aimed at businesses in the creative industries, including those involved in arts, design, media, and culture.

For a comprehensive list of available grants, you can use the Northern Ireland Business Support Finder tool, which helps match businesses with appropriate funding opportunities.

Eligibility and Application Tips

While the exact requirements vary from grant to grant, there are several common factors to keep in mind when applying:

General eligibility criteria

• Location: The business must be based in Northern Ireland. Some grants are specific to certain areas, such as rural locations.
  
• Business type: Many grants are targeted at specific kinds of businesses. For example, some are for social enterprises, while others may focus on technology or manufacturing sectors.
  
• Project type: The project or initiative you’re applying for funding for must align with the objectives of the grant. For instance, if you’re applying for an innovation grant, your project must involve a degree of research or product development.
  
• Size of business: Some grants are aimed at small or micro-businesses, while others may be available for businesses of any size.

Application tips

1. Attend workshops: Many grant schemes, such as the Rural Business Development Grant Scheme, offer pre-application workshops. These can help you understand the process and what’s expected in a successful application.
   
2. Prepare detailed documentation: A strong application includes a clear business plan, financial forecasts, and a detailed breakdown of how the grant will be used. Be sure to include any supporting documents requested, such as tax returns or financial statements.
   
3. Focus on innovation and impact: Many grants prioritise projects that demonstrate innovation, potential market impact, and sustainability. Be clear about how your project will benefit both your business and the wider community or economy.
   
4. Use online tools: Use tools like the Northern Ireland Business Support Finder to identify relevant funding opportunities. This can help streamline the process and ensure you don’t miss any grants that may be available to you.

Alternatives to Grants

While grants are an excellent source of non-repayable funding, they are not always the best option for every business.

Grants can be competitive, with strict eligibility criteria. And they often require a lot of paperwork and planning. If you find that grants are not suitable for your business, or if you need additional funding, then alternative funding options could be a better fit.

‍

{{business-funding-on-your-terms="/components"}}

‍

FAQs

1. What is a business grant? 

A business grant is a non-repayable sum of money provided to businesses for specific purposes, such as innovation, growth, or sustainability.

2. Who is eligible for grants in Northern Ireland? 

Eligibility varies, but businesses must typically be registered in Northern Ireland and meet sector-specific or size-related criteria.

3. How do I find suitable grants? 

Use the Northern Ireland Business Support Finder tool, consult local councils, or visit funding bodies like Invest NI.

4. Are grants better than loans? 

Grants do not require repayment, making them a great option for non-dilutive funding, but they are competitive. Loans are more flexible and quicker to access, though they must be repaid.

5. Can I apply for multiple grants? 

Yes, you can apply for multiple grants, as long as you meet the eligibility criteria for each one and no overlap breaches funding rules.

‍