If you are looking to grow your business it must have adequate and appropriate funding.

Find out more about the types of funding available:

Smart is the SBS initiative that provides grants to help individuals and small and medium-sized businesses to make better use of technology and to develop technologically innovative products and processes.

Smart offers help on a competitive basis for Feasibility Studies into innovative technology and for Development Projects, to bring new products and processes up to prototype stage.

Applicants for Feasibility Studies must be individuals or businesses with fewer than 50 employees and for Development Projects fewer than 250 employees. The grants are at a rate of 75% for Feasibility Studies (maximum GBP 45,000) and 30% for Development Projects (maximum GBP 150,000).

Help for small businesses and new businesses Some organisations can provide advice and sometimes finance for young people wanting to set up businesses such as the Prince's Trust and 'Livewire' which is sponsored by the company Shell International.

Small and medium-sized firms can benefit from a range of regionally-based schemes, aimed at new and small businesses, which are supported by European Structural Funds (which promote competitiveness throughout Europe). They are administered by Government Offices in the English regions, the National Assembly for Wales, the Scottish Executive and the Northern Ireland Office.

The EC Commission's UK website contains a guide to the funds available from the European Union and includes an Index of Grants, Loans and Programmes.

The Regional Development Agencies in England can provide grants for converting redundant rural buildings for commercial purposes.

Public Understanding of Science Engineering and Technology grants are made available by the Office of Science and Technology for pump priming projects aimed at promoting the public understanding or awareness of science, engineering or technology.