Setting up a successful small business can be tough if you’re starting from scratch. You might have a fantastic idea, but lack the funds to make it happen. Don’t worry, there are plenty of small business grants and funding in Scotland to help give your business a boost!
Here are a few of the best opportunities for small business grants and funding in Scotland, as well as my tips on when and how to apply.
Scottish Enterprise
Who: all types of small businesses
When: various deadlines
Website: scottish-enterprise.com
Scottish Enterprise is a public body which encourages economic development and business innovation in Scotland. Part of this support includes a variety of small business grants and funding.
As well as their own grants, Scottish Enterprise can also help you apply for funding from a range of other external sources. A few key grants to look out for include:
- Research and Development Grants – you may be eligible for this funding if your business is based in or planning to locate in Scotland, in the area served by Scottish Enterprise. Find out more here.
- Regional Selective Assistance Funding – this funding is designed to support projects that will help create jobs and a greener economy. Find out more here.
- and more.
Business Gateway
Who: all types of small businesses
When: various deadlines
Website: bgateway.com
Another great organisation which can help you secure small business grants and funding in Scotland is Business Gateway. Whether you’re just starting out or already have an established business, their funding advice is invaluable.
Business Gateway advisors can help you apply for a range of funding, including:
- Scottish Loan Scheme – loans of between £250,000 and £2 million for Scottish businesses who have been trading for 2 years or more.
- New Enterprise Allowance – grants of varying amounts to help people on Jobseeker’s Allowance set up and establish a small business
- and many more.
Prince’s Trust
Who: 18 to 30-year-olds looking to start their own business
When: no deadline
Website: princes-trust.org.uk
As part of their Enterprise scheme, the Prince’s Trust help equip young people with the skills and knowledge they need to run their own businesses. Part of this includes small business grants and funding in Scotland for those aged between 18 and 30.
As well as advice and support, the Enterprise programme also includes access to low-interest personal loans for business purposes. To find out more, click here to visit their Finance for your Business page.
CivTech
Who: businesses with an interest in digital innovation
When: challenges released in July
Website: civtech.atlassian.net
CivTech, part of the Scottish Government’s Digital Directorate, brings together public sector bodies with creative private sector small businesses to solve problems, develop new products and deliver better services for everyone.
Each year a set of ‘challenges’ are released and people can apply with their best solution to the problem. The most innovative application will then receive funding, resources and support from CivTech to help make it a reality.
Past challenges have included things like:
- How can technology help people self-organise and build meaningful connections as the beating heart of Scotland’s global business community?
- How can technology help communities and households understand their energy needs and work with local suppliers towards sustainable energy solutions?
- How can technology help to create a nature network by 2030 across all of the different areas of Scotland?
Just at the start of your business journey? Here’s an overview of available business incubators & accelerators in Scotland.
Scottish EDGE
Who: Scottish entrepreneurs and start-ups
When: applications open January 2024
Website: scottishedge.com
If you’re an entrepreneur and are looking for small business grants and funding in Scotland, why not apply for Scottish EDGE? You could win up to £100,000 in funding, plus a package of support and mentorship from Scottish EDGE, to help grow your innovative business idea.
To apply, you’ll need to submit your application via their online portal. Your application will be assessed on innovation, entrepreneurial spirit, business growth potential, customer focus, utilisation of funding and risk awareness.
Looking for more? Then check out this list of grants & funds for small businesses in England, Wales, Scotland and Northern Ireland.
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