It can be difficult to access funding to launch a new product and to realise your business goals.

We have experience of helping our clients and our community access funding. Whether an existing business or a start-up, an SME or sole trader, a community group or a registered charity, there are many options open to you.

Funding in the UK

Scotland

The first point of contact for smaller organisations, start-ups and sole traders should be the Business Gateway, who provide general business advice, including accessing funding for new projects and business expansion.

More funding information, applicable to all types of business entity, can be found on the Scottish Enterprise website where you will find a searchable online funding database.

The Rest of the UK

Innovate UK help businesses grow through the development and commercialisation of new products, processes, and services.

The UK Government also have a searchable database of funding opportunities. This is useful for searching by location, and by industry.

Some Funding Options

Digital Boost (Grant)

The Digital Boost Funding is available to existing organisations for the purpose of improving business efficiency by enhancing the digital operations of the business and the digital skills of staff. This fund has several funding rounds throughout the year, however, due to huge interest it also closes very quickly each time. To be notified of when the next round opens you can sign up to their newsletter.

Digital Development Loan

The Digital Development Loan is for SME's at least 6 months old and provides loans of £5k - £100k, interest free, with up to 5 years repayment terms and no early repayment fees.

The DDL was created by the Scottish Government to improve digital capabilities and capacity. The loan also covers staff digital skills development and improve economic productivity.

SMART: SCOTLAND Grants

SMART funding supports SME's to undertake Feasibility Studies and Research and Development projects to progress innovative ideas. Up to £100K (70% of project costs) is available for feasibility projects of length 6-18 months.

Start-up Loans

The British Business Bank provides loan funding up to £25K at 6% interest, with repayment terms up to 5 years.

Crowdfunding (loan/equity)

Crowd funding is becoming a more popular form of funding a new project for those unable or unwilling to go down the usual funding channels.

However, crowdfunding can be a good way to raise finance, with several options available to suit your needs, without necessarily giving away a share in your business. This article provides a good overview of the DOs and DON'Ts of crowdfunding.

Business Angel (loan/equity)

Angel Investors may provide the finance you require, however these investors will usually acquire some equity in your company in return. However, the benefits of Angel funding can outweigh the costs. Find out more