The Advantages of Grant Funding
Shaun Marsden is Account Director at Catax Solutions Ltd. In this article, he talks about grant funding in the real estate and construction industries.
If a business is planning a future innovative project, grant funding is an optimal solution for helping to subsidize this activity. Typically distributed by the government, corporations or foundations, these schemes reward companies with a share of a large sum of money that does not have to be paid back.
There are hundreds of schemes that run every year which deliver millions of pounds into the hands of industries. These are specifically chosen because they have a significant contribution to make to the environment and economy through innovation and technological advances.
Real estate and construction are some of these sectors.
The grants available for companies in such industries are changing, and are now focusing on the materials used, building efficiencies, innovative technology and greener supply chains. For example, these grants include the upcoming STFC Horizons Programme: investigating solutions for net zero. With a closing date of the 16th June, the funding has been created to support companies investing in research and development of technology and solutions achieving new zero carbon dioxide emissions.
The techniques we use to build are changing, and policymakers use grants to encourage more rapid progress. Companies focusing on finding new materials that are more efficient to build with and more eco-friendly to use, and those that are working with existing structures – including soft targets to protect existing infrastructure and minimise waste – will be able to utilise these grants to fund their projects.
However, grant applications are often complex. It is essential that applicants not only explain how the money invested will be used and what difference it will make to the organisation concerned, but also how the advances it aims for will benefit the wider industry.
Chris Parkhurst, Regional Development Director (Grants) at Catax, said: “You face intense competition when you make these grant applications.
“The selection process itself is even called a ‘competition’ in most cases, and you will be up against plenty of other determined leaders in the industry. If you can’t explain why you, above nearly all others, deserve the investment, then you won’t succeed.
“We come across plenty of businesses who missed out in the past because they weren’t able to put their best foot forward and fully explain the value they would add. It’s a crying shame when that happens because grants can have a terrific impact on the future trajectory of a business.”
Catax is the UK’s leading expert in specialist tax relief and grants services. If you want to find out more about which grants you’re eligible for and how to apply, contact Shaun Marsden on 0781 750 8904 or shaun.marsden@catax.com.