Access to finance…
How are you going to finance your business?
Securing finance is one of the greatest challenges faced by female business owners. We will be updating on a regular basis information about access to funding your business to help business women access the finance they need to invest and grow.
Getting started - funding your business…
It's common in the early stages of a business for parents, siblings or friends to financially support your business…
Bank loans
Crowdfunding
Business angels
Venture capitalists
Short-term loans
Guaranteed loans
Incubators and Accelerators
Business Grants
Points to consider…
1. Determine how much funding you'll need?
2. Fund your business yourself with self-funding
3. Get venture capital from investors
4. Use crowdfunding to fund your business
5. Get a small business loan
6. Use Lender Match to find lenders who offer SBA-guaranteed loans
7. Small Business Administration investment programs
Generally, government grants come in the form of a direct grant. Direct grant – this is money given to your new business to cover start-up essentials such as training, investment in equipment, or reaching new markets such as overseas exports.
Government Grants
Scottish Government Grant
Finance news…
NatureScot Better Places Green Recovery Fund - Round 2 ***Closes 14 May
Funding is available for local authorities, as well as community groups and NGOs to help ensure that services and infrastructure are in place to manage visitor numbers and behaviours during the 2021 season.
The purpose of this second round is to fund additional visitor management activity over and above any service improvements and infrastructure already budgeted for or in place. The fund will support the following:
visitor management operational services - funding for new and additional seasonal ranger and visitor management posts
visitor infrastructure - funding for projects that can be delivered quickly and help address visitor pressures at busy hot spot locations, including temporary or permanent infrastructure
The SME Brexit Support Fund could give you up to £2,000 to help with training or professional advice if your business has up to 500 employees and no more than £100 million annual turnover.
You can use the grant for training on:
how to complete customs declarations
how to manage customs processes and use customs software and systems
specific import and export related aspects including VAT, excise and rules of origin
Green Jobs Funding Call **Opens 18 May
The green jobs call is part of a series of funding rounds that will open and close for applications periodically. The first call, opening on 18 May 2021, offers funding of between £50,000 and £500,000 to help Scottish businesses to:
create green jobs (new jobs that relate directly to the transition to net zero) or facilitate the transition of a job from non-green to green.
minimise environmental impacts by developing sustainable low carbon products or services.
The Scottish Government is offering 75% cashback grants along with an interest-free loan for small and medium-sized businesses (SMEs) in Scotland that want to install heat pumps.
Organisations can access the loan and receive a cashback grant of up to £10,000 while also cutting their energy bill and carbon footprint.
This fund will support investments and jobs in seafood sectors, the marine environment and coastal communities in Scotland. It replaces the European Maritime and Fisheries Fund (EMFF) following the UK’s exit from the EU.
Projects in the following areas can be supported:
commercial fishing
aquaculture
processing and marketing
seafood-related operations at ports and harbours
aspects of environmental protection and improvement of the marine environment within the scope of the categories above
aspects of coastal community support where they directly relate to the categories above
STV Green Fund
The new £1m STV Green Fund will help sustainable Scottish businesses connect with consumers to promote their eco-credentials. Open to Scottish SMEs with a green objective, product, or message. The Green Fund offers match funding and revenue share options to help businesses extend their reach, communicate with consumers, raise their profile and encourage Scots to reduce their own carbon footprint.