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Small businesses are urged by Abbey National to take up the millions of pounds worth of grants left unclaimed every year.

Huge amounts of money in potential grant funding for UK small firms are not being taken up – according to a Federation of Small Business survey only seven percent of small businesses were taking advantage of the financial help on offer.

In addition recent studies have suggested only a small percentage of supported and finance, allocated by the Department of Trade and Industry, was finding its way to those who needed it.

Abbey National’s survey discovered the main reason for the problem was a lack of awareness and time to research the difficult grants jungle.

To help combat the problem, Abbey National business has started offering advice on its website www.anbusiness.com

Help on grants is available to both customers and non-customers alike and highlights who’s eligible, which grants are suitable and how to go about applying.

Chris Stamper, Abbey National’s business sales director, said very few small firms were aware of what they were entitled to or how to claim.

“We have teamed up with j4b.co.uk, the specialists grant website, to offer free information and advice to small businesses.

“We believe the DTI needs to do more to highlight potential grants, helping to provide the small business sector with a real boost.

“Some public bodies charge as much as £200 for grant information – the information on the Abbey National business website is available to anyone and completely free,” he said.

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