Finance for Small and Medium-Sized Enterprises - DTI Home Page

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Finance for Small and Medium-Sized Enterprises: A Report on the 2004 UK Survey of SME Finances 13 GRANTS The following table reports average and total amounts of grant finance accessed in last 3 years. Table 13.1: Value of Grants Awarded to Businesses in the Last 3 years (Averages and Totals) (Population Weighted) AVERAGE ERROR TOTAL ERROR (£) MARGIN ± (BILLIONS £) MARGIN ± All businesses N p = 231,840 N = 341 32,681 14,447 7.6 3.5 Number of employees 0 18,928 19,363 1.6 1.6 1-9 39,980 23,561 4.7 3.1 10-49 34,573 16,050 0.9 0.4 50-249 83,380 37,201 0.4 0.2 Turnover (£) Less than 10,000 27,587 21,815 0.1 1.6 10,000-49,999 7,828 6,113 0.5 0.4 50,000-99,999 17,878 14,147 0.6 0.6 100,000-249,999 60,765 62,857 1.8 2.5 250,000-499,999 68,371 55,823 1.4 1.4 500,000-999,999 47,591 58,786 0.9 1.2 1,000,000- 4,999,999 32,017 26,268 0.9 0.8 5,000,000 or more 94,751 127,786 1.2 1.5 The key results here are that: • The value of the average grant awarded is about £33,000. • The total value of grants awarded to SMEs in the last 3 years is £7.6 billion. • The total value of assistance to businesses with less than 10 employees is £6.3 billion, over 80% of the total awarded to all SMEs. the 117
Finance for Small and Medium-Sized Enterprises: A Report on the 2004 UK Survey of SME Finances Grant sources Figure 13.1: Sources of Grants Accessed in the Last 3 years 25% 3% 2% 5% 10% 5% Regional Grant Enterprise Grant Agricultural Grant Business Support Scheme European Grant IT Grant Prince's Trust Citb Other Don't Know Base: All SMEs with grants N p = 231,840 (Unweighted N = 341) The main sources are: • Regional Grants (20%). • Enterprise Grants (12%). • Agricultural Grants (11%). • Business Support Scheme (7%) The large number of different grant sources is highlighted by the 25% of businesses naming another, unspecified, source. Also, there is a surprising degree of ignorance as to the actual grant source (10% ‘Don’t Know’). 7% 20% 11% 12% 118
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