By Ben Lobel on Small Business – Advice and Ideas for UK Small Businesses and SMEs
If your business is based in Scotland, you’ll interested to learn there are Scottish business grants that you may be able to access.
Grants are a type of funding provided by the government, local councils and some private organisations.
You don’t normally have to repay them. But you might have to meet some terms, for example a job creation target or deadline.
Grants are usually available to help ideas or businesses that will create jobs or develop new products, services or markets.
Grants are there to help you fund a specific project and will usually cover only part of the total costs involved, so you will need to provide match funding in most cases.
Furthermore, most grants are paid retrospectively which means that you’ll need to pay out money upfront and reclaim the grant money later.
Every grant will have a different application process, although there will be common things you’ll need to show, like how the grant will cover shortfall in funding and what other efforts you’ve made to raise funding.
The main grant funding available in Scotland is to help ideas or businesses that:
Will create social or economic benefits, for