Equity crowdfunding platform Crowdcube announced on Tuesday it has formed a partnership with Small Business UK to launch Small Business Grants, which is described as a free-to-enter initiative that offers £5,000 every month to a leading small business. The funding portal noted that the grant does not have to be paid back.
“We are delighted to welcome Crowdcube co-founder Luke Lang onto our panel, who, along with our other judges, will make a decision on the winner based on factors such as turnover growth, innovation, aspiration, key projects completed, contracts won and partnerships forged, as well as the extent to which £5,000 can help the company succeed.”
To apply, the small businesses should be at least one year old and has turned over between £50,000 and £500,000. Crowdcube noted that all the small businesses need to do is fill in a single form here and shares details about their business and what they would do with the money. Crowdcube added:
“Every month, a shortlist of six leading candidates is sent through to a panel of independent judges, made up of prominent entrepreneurs and industry authorities.”