Growing and developing your business may require financial support.
Although crowdfunding has
been operational for some time in the USA and the UK, the creation of a new
Scottish crowdfunding platform is an exciting new development in sourcing
finance for SME’s.
Individuals, businesses, charities and community groups are now able to bring their projects or businesses to a wider audience via the internet and request financial support.
Bloom Venture Catalyst, the brainchild of two Scottish female entrepreneurs, has been launched and offers access to funds and help to define the project to ensure its optimum chances of gaining support. The projects are listed for between 30 to 60 days depending on the wishes of the project owner.
For more information visit www.bloomvc.com
Business Loans Scotland
Business Loans Scotland is a consortium of Scotland’s 32 local authorities, providing loan finance up to £100,000 to new and growing small and medium sized businesses (SMEs) across Scotland.
For more information and to apply online visit www.bls.scot
Financial Support To Businesses
This Fife Council support
can help with funding to encourage small companies in Fife to invest and grow
their business and can help in the following areas – plant and machinery,
property improvements, product development, process improvement, training and
Your company may be eligible for assistance if you employ up to 50 people in manufacturing, business to business services or tourism. Your development plan must show that the investment will bring an economic benefit to Fife by way of increased employment and/or turnover.
Contact an adviser on 01592 858333 to discuss your situation.
Fife Market Development Programme
Fife Council provides a
range of services and practical assistance to help businesses develop existing
and new markets. We can help you exploit the business opportunities that arise
from participating in trade exhibitions, learning journeys or trade missions.
Market development support is available for Fife companies who want to attend exhibitions. For information contact Dot Smith 03451 555555 ext 492175 or emailDorothy.Smith@fife.gov.uk
DSL Business Finance
If you are a small business located in Central Scotland you can apply
for a loan of £50,000 from DSL Business Finance, the not-for-profit business
lender. DSL specialises in start-up and gap finance for small firms,
charities and social enterprises which are unable to get funding from
banks. DSL is an ethical lender; any profit it makes is ploughed back
into providing loans for small firms rather than distributing to shareholders
or paying staff bonuses.
Using a Government scheme called The Enterprise Finance Guarantee, DSL can lend to firms even if they have no security or have been turned down by the banks. This fund has been in existence for many years, and is often used as part of a funding package for a business as the "makeweight" in a commercial transaction where other lenders are also supporting the proposal, but the risk is shared betwen them and DSL.
For more information visit www.dsl-businessfinance.co.uk
The Scottish Microfinance Fund
The Scottish Microfinance Fund (SMF) is managed by DSL Business Finance Ltd (DSL), a not-for-profit lender, with the support of UK Government through the Start-up Loans Company (SULCo) and the European Regional Development Fund (ERDF) to provide loans of up to £25,000 to businesses in Scotland.
The SMF is available to both new and established businesses, with a prime objective of supporting enterprise in Scotland.
Regional Selective Assistance
The Scottish Government can provide financial
assistance to new and existing businesses in Scotland. Following a review of
their grant scheme structure in 2007, they can now offer direct financial
support through our Investment and Innovation Grants which could help develop
your business. To find out more visit the Regional Selective
For more information on how to apply contact Business Gateway Fife on 01592 858333 or email firstname.lastname@example.org
Research and Development Grants
Small, medium and large
enterprises may receive funding for research and development, even if the
innovation is new only to your business. The product need not be innovative
within a national context.
Find out more about research and development grants on the Scottish Enterprise website
If your innovation represents a significant technological advance within your industry sector, then you may qualify for a Scottish Government SMART:SCOTLAND grant. Funding is available for small to medium sized enterprises (SMEs) which have:
· less than 250 employees
· an annual turnover of less than EUR 50 million; and/or
· an annual balance sheet total of less than EUR 43 million.
For more information visit www.scottish-enterprise.com
Start Up Loan For New Business
A Start Up Loan is a government-backed personal loan available to individuals looking to start or grow a business in the UK.
With a fixed interest rate of just 6% per annum and the ability to
borrow between £500 and £25,000, Start Up Loans offer an affordable source of
finance to help new and early stage business owners bring their plans to life.
Start Up Loans are available to individuals over the age of 18 who are eligible to start a business in the UK. Individuals can only receive one Start Up Loan, however more than one partner in a business can be eligible to apply for a loan.
· Up to £25,000 available
· 6% fixed interest rate
· For businesses who have been trading for less than 24 months
· 1-5 year loan term
· No application fee
No early repayment fee
For more information and to check eligibility visit https://www.startuploans.co.uk/
- January 2018 Invest in Fife Newsletter
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