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

Are you a budding entrepreneur or small business owner in Shetland seeking financial support? The Shetland Islands Council and other organizations offer various grants and government-backed loans to help you start or grow your business. This guide provides key information to help you navigate the available funding opportunities.

Advice on Applying

Contact Business Gateway Shetland
Your first step should be to contact Business Gateway Shetland. Their expert advisors can assess your business needs, guide you to the most suitable funding options, and offer valuable advice on preparing a strong application. You can access their services through their website.

Understand Eligibility Criteria
Carefully review the eligibility criteria for each grant or loan to ensure your business meets all the requirements before applying. This will save time and increase your chances of success.

Prepare a Strong Application
When applying for funding, pay close attention to detail and ensure you 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 improve your application’s chances.

Meet Deadlines
Be aware of application deadlines and submit your application well in advance. Late submissions are typically not considered.

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 increase the likelihood of a successful application.

Grant and Loan Programs

Grants

Shetland Business Start-Up Grant
This grant provides up to £4,000 to newly established businesses in Shetland. The grant may cover capital costs, marketing expenses, and training costs. For more information, visit the Shetland Business Start-Up Grant.
Shetland Islands Council Economic Development Grant Scheme
This scheme offers grants of up to £25,000 to businesses and third-sector organizations in Shetland to support growth or research projects. Further details can be found on the Shetland Islands Council Economic Development Grant Scheme.

Government-Backed Loans

Shetland Islands Council Loan Funding
This program provides commercial loans to new and growing businesses as well as voluntary organizations in the Shetland Islands. This is a vital resource for those seeking to expand or establish their operations in the region.

Key Resources

Business Gateway Shetland
Business Gateway offers local business support, including advice on funding and growth opportunities. Visit their website for more information.
Shetland Islands Council Business Advice and Support
The Council's website provides detailed information on available funding opportunities and support programs. Check out their Business Advice and Support page for further guidance.
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)
HIE provides support and funding opportunities for businesses in the Highlands and Islands region, including Shetland. More information can be found on the HIE website.

Shetland Islands Council Contact Information

Website: Shetland Islands Council - Business Advice and Support
Business Gateway Shetland: Business Gateway Shetland
Phone: +44 1595 744 800
Email: Contact through the official website.

Frequently Asked Questions (FAQs)

What is the Shetland Business Start-Up Grant?
- This grant provides up to £4,000 to newly established businesses in Shetland to cover capital, marketing, and training costs.
How much funding can I get from the Economic Development Grant Scheme?
- The Shetland Islands Council Economic Development Grant Scheme offers up to £25,000 for growth or research projects.
What kind of loans are available through Shetland Islands Council?
- The Council offers commercial loans to new and growing businesses, as well as voluntary organizations in the Shetland Islands.
Where can I get help with my funding application?
- Business Gateway Shetland provides advice and support for preparing and submitting your application.
Are there specific deadlines for these grants and loans?
- Yes, some programs may have specific deadlines. Always check with the relevant organizations or contact Business Gateway Shetland for up-to-date information.
What other resources are available for businesses in Shetland?
- In addition to grants and loans, resources like Business Gateway Shetland and Highlands and Islands Enterprise (HIE) offer valuable support for business development.
What should I include in my business plan for the application?
- A detailed overview of your business, financial projections, and a clear explanation of how the funding will be used should be included.
Can I apply for more than one grant or loan?
- It depends on the specific terms of each grant or loan. It’s best to check with the funding providers for details.
Is there funding available for training and skills development?
- Yes, the Shetland Business Start-Up Grant can be used to support training and skills development initiatives.
How do I apply for the Shetland Business Start-Up Grant?
- Details on how to apply can be found on the Shetland Islands Council's website or by contacting Business Gateway Shetland.

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