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Last update 16/08/2024

Grants and Loans for Startups & Small Businesses in Orkney Islands Council, UK: Your Funding Guide

Are you a budding entrepreneur or a small business owner in Orkney seeking financial assistance? Orkney Islands Council and other organizations offer a variety of grants and government-backed loans to help your business take flight. This guide provides essential information to help you navigate the available funding opportunities.

Grant and Loan Programs

Grants

New Business Start-Up Grant
Provides up to £5,000 for new businesses in Orkney to help with initial setup costs and other expenses. For more details, visit the New Business Start-Up Grant page.
Orkney Islands Council Economic Development Grant Scheme
Offers various grants to support businesses across sectors, including tourism, food and drink, and creative industries. More information can be found on the Orkney Islands Council Economic Development Grant Scheme page.
Creative Scotland Open Fund
Supports creative projects and organizations in Scotland, including those based in Orkney. Visit the Creative Scotland Open Fund page for additional details.

Government-Backed Loans

Start-Up Loans
A UK-wide initiative providing government-backed personal loans and mentoring for new businesses less than 24 months old. Learn more at the Start Up Loans UK page.

Key Resources

Business Gateway Orkney
Business Gateway offers local business support, including advice on funding and growth opportunities. Visit their website for more information.
Orkney Islands Council - Business Advice and Support
The Orkney Islands Council website provides details on various grants and business support services available. Visit Orkney Islands Council - Business Advice and Support for more information.
Find Business Support
The Scottish Government's Find Business Support website allows you to search for funding and support programs based on your location and business needs.
Highlands and Islands Enterprise (HIE)
Provides support and funding opportunities for businesses in the Highlands and Islands region, including Orkney. Visit Highlands and Islands Enterprise (HIE) for more details.

Orkney Islands Council Contact Information

Website: Orkney Islands Council Business Support
Business Gateway Orkney: Business Gateway Orkney
Phone: +44 1856 873535
Email: Contact through the official website.

Advice on Applying

Contact Business Gateway Orkney
Begin by contacting Business Gateway Orkney. Their expert advisors can assess your needs, guide you to the most suitable funding options, and provide invaluable advice on preparing a strong application. Access their services through their website.

Understand Eligibility Criteria
Before applying, carefully review the eligibility criteria for each grant or loan to ensure your business meets all the requirements. This step can save you time and increase your chances of success.

Prepare a Strong Application
When applying for funding, it’s crucial to pay close attention to detail and provide all the requested information. A well-crafted business plan, financial projections, and a clear explanation of how the funding will be used can significantly enhance your application’s chances.

Meet Deadlines
Be aware of application deadlines and ensure you submit your application well in advance. Late submissions are often not considered, so it's essential to be proactive.

Seek Additional Support
If you need help with your application or business plan, consider seeking assistance from a business advisor or consultant. Additional support can make a difference in the success of your application.

Frequently Asked Questions (FAQs)

What is the New Business Start-Up Grant?
- This grant offers up to £5,000 for new businesses in Orkney to cover initial setup costs and other expenses.
How can I apply for the Orkney Islands Council Economic Development Grant Scheme?
- This scheme provides various grants to support businesses across multiple sectors, including tourism, food and drink, and creative industries.
What is the Creative Scotland Open Fund?
- It supports creative projects and organizations in Scotland, including those based in Orkney.
Who can apply for the Start Up Loans?
- New businesses less than 24 months old across the UK can apply for these government-backed personal loans.
Where can I find more information about business funding in Orkney?
- Visit the Orkney Islands Council's Business Advice and Support page for detailed information.
What support does Business Gateway Orkney offer?
- Business Gateway provides advice on funding, business planning, and growth opportunities.
Are there deadlines for these grants and loans?
- Yes, some programs may have specific deadlines. Always check with the relevant organizations or contact Business Gateway Orkney for up-to-date information.
Can I apply for multiple grants or loans?
- It depends on the specific terms of each grant or loan. It’s best to check with the funding providers for details.
What should I include in my business plan for the application?
- Include a detailed overview of your business, financial projections, and a clear explanation of how the funding will be used.

Value AD

CAN BE

ALTERNATIVE

INVESTMENT

What is Value Ad?

Value Ad is an innovative policy designed to foster a mutually beneficial relationship between two key groups: new businesses and service providers. This policy helps startups save significantly on essential services while enabling service providers to gain valuable traction and growth opportunities.

How is it a Win-Win Deal?

For New Businesses:

Cost Savings: Startups can save 50% to 80% on essential services such as website development and marketing. This means they don’t need to invest heavily upfront, making it easier to launch and grow their business.

Alternative Investment: The money saved through these discounts can be reinvested into other critical areas of the business, acting as an alternative investment that fuels further growth and development.

For Service Providers:

Initial Customer Base: Service providers, often tech startups themselves, can attract a significant number of initial customers by offering their services at a discounted rate. This helps them build traction and demonstrate value, which is crucial for attracting venture capital (VC) funding and other opportunities.

Marketing Efficiency: By providing affordable services, service providers do not need to spend heavily on marketing to acquire new customers. The discounted services themselves become a powerful marketing tool, bringing in customers who can spread the word and enhance the provider’s reputation.

Growth and Expansion: Attracting more customers through Value Ad helps service providers expand their client base and build long-term relationships, which can lead to increased revenue and business growth.

Alternative Investment for New Businesses:

For new businesses, the significant cost savings achieved through the Value Ad policy effectively serve as an alternative investment. Instead of spending large amounts on website development and marketing, they can leverage the affordable services provided by service providers. The saved funds can be redirected into other strategic areas of the business, enhancing overall growth and sustainability.

Benefits for Service Providers:

Service providers benefit from the Value Ad policy by gaining access to a ready pool of new customers who are drawn by the discounted rates. This initial customer base is crucial for:

Building Traction: Demonstrating product or service viability to potential investors.

Securing Funding: Enhanced customer traction and a growing user base can make the service provider more attractive to venture capitalists and other funding sources.

Market Penetration: Establishing a presence in the market quickly and efficiently without heavy marketing expenditures.

In Summary:

Value Ad is a strategic policy designed to create a win-win scenario for both new businesses and service providers. By offering significant discounts on essential services, startups can save and reinvest those savings, while service providers gain crucial initial customers and market traction. This mutually beneficial arrangement supports the growth and success of both groups, making Value Ad a powerful tool for business development and investment.

Value AD

CAN BE

ALTERNATIVE INVESTMENT