Funding Opportunities in Aberdeen: Grants & Loans for Startups & Small Businesses

Aberdeen, known for its dynamic business environment, provides numerous financial support opportunities for startups and small businesses. This guide will help you navigate through the grants and government-backed loans available to boost your business in Aberdeen.

Grant and Loan Programs

Grants

Business Start-Up Grant Scheme
Aberdeen City Council offers up to £3,000 to support new businesses with start-up costs. Businesses in rateable premises are eligible for the full amount, while home-based businesses can receive up to £1,000.
Learn more about the Business Start-Up Grant Scheme

Government-Backed Loans

Start-Up Loans Scotland
Provides personal loans from £500 to £25,000, along with 12 months of free mentoring, for individuals starting or growing a business in Scotland.
Apply for Start Up Loans Scotland
Business Loans Scotland (BLS)
Offers loans between £25,000 and £250,000 at an interest rate of around 11%, aimed at businesses that cannot secure traditional funding.
Explore Business Loans Scotland

Key Resources

Business Gateway Aberdeen City & Shire
Your first point of contact for local business support and advice, helping you understand and navigate through funding options and application processes.
Visit Business Gateway Aberdeen City & Shire
Aberdeen City Council - Business Support
Offers comprehensive information on various business support programs and funding opportunities specific to Aberdeen.
Explore Aberdeen City Council's Business Support
Find Business Support
This Scottish Government platform allows you to search for funding and support programs based on your location and business needs.
Search for funding on Find Business Support

Aberdeen City Council Contact Information

Website: Aberdeen City Council
Phone: +44 1224 523500
Email: Direct contact forms are available on their website.

Advice on Applying

Contact Business Gateway Aberdeen City & Shire: Engage with their advisors early to gain tailored guidance on suitable funding options.
Understand Eligibility Criteria: Make sure your business meets the requirements of each funding program to enhance your chances of success.
Prepare a Compelling Application: Develop a detailed business plan and financial projections to strengthen your application.
Meet Deadlines: Ensure your applications are submitted before the deadlines to ensure consideration.

Frequently Asked Questions (FAQs)

What can the Business Start-Up Grant Scheme cover?
- It covers expenses related to equipment, marketing, and website development for new businesses.
Who is eligible for Start Up Loans Scotland?
- Individuals in Scotland starting a new business or within the first two years of trading.
How do I apply for the Business Start-Up Grant?
- Applications should be submitted through the Aberdeen City Council website, with guidance available from Business Gateway.
What are the terms for loans offered by Business Loans Scotland?
- Loans range from £25,000 to £250,000 with a typical interest rate of about 11% and terms up to 5 years.
Can I combine different funding sources for one project?
- Yes, depending on the specific conditions of each funding source, it is possible to combine grants and loans for a project.
Where can I find workshops on financial management and business planning in Aberdeen?
- Business Gateway Aberdeen City & Shire frequently hosts workshops and seminars that include financial management and business planning.
Are there sector-specific grants available in Aberdeen?
- While many grants are broadly applicable, some may target specific sectors like technology, innovation, or energy efficiency.
What should I include in my financial projections when applying for funding?
- Include detailed revenue forecasts, expense budgets, and cash flow statements.
How often can I apply for these grants and loans?
- You can apply as often as new opportunities arise, provided you meet the eligibility criteria for each program.
Who can help me fine-tune my business plan for these applications?
- Advisors at Business Gateway Aberdeen City & Shire can assist you in refining your business plan and financial projections.

Utilize this comprehensive guide to explore and leverage the funding opportunities available in Aberdeen. For personalized guidance or to begin your application process, contact Business Gateway Aberdeen City & Shire or consult the Aberdeen City Council's business support pages.

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