Small business grants in Scotland – the small business guide

Access to business funding can really help you to develop your small business. But with so many types of funding out there, what’s the best option for you? Sometimes searching for business grants specific to your local area can help you make the right choice.

But even if you narrow down your search for business grants by location, finding the right grant can still seem overwhelming. That’s why we’ve broken down some of the best small business grants in Scotland to apply for by topic.

If you’re a Scottish small business, keep reading to discover the best small business grants available to you – plus tips on applying.

Apply for:

• Business start up grants Scotland
• Small business grants in Scotland for creatives
• Small business grants in Scotland for young people
• Small business grants in Scotland for innovation

Business start up grants Scotland

If you’re a new business, searching for a start up grant might be your best bet. As well as financial funding, some of these grants even come with additional support designed specifically for new businesses.

Start It

Grant amount: up to £5,000

Start It is an award for individuals wanting to start a social enterprise. The amount you receive will vary on your specific start-up costs, but can be used to cover costs such as legal fees for incorporation, rent, marketing, equipment, or insurance.

To be eligible, you’ll need to:

• be an independent organisation
• have a positive social impact
• be in the early stages of development

Techscaler Minimum Viable Product (MVP) Small R&D Grant

Grant amount: £5,000 to £50,000

Available exclusively for tech start-ups, the Techscaler Minimum Viable Product (MVP) Small R&D Grant is a research and development (R&D) grant designed to help new businesses develop new products or services.

The caveat here is that your company will have had to previously have taken part in the Techscaler Executive Education Programme. But if you’ve already done this, you may be eligible for the grant.

As well as this, you’ll also need to meet the following eligibility criteria:

• have fewer than 250 employees
• strong customer research and insights
• evidence of early commercial interest

Local business start up grants in Scotland

You can also find grants available to start-ups in your local area. Take a look to see if your business is based in any of these areas:

• Renfrewshire New Business Start-Up Grant: £300 to £1,000
• Orkney Islands Council New Business Start-Up Grant: £500 to £1,500
• West Dunbartonshire Council Business Start-Up Grant: up to £500
• East Dunbartonshire Business Start-Up Grant: up to £500
• North Lanarkshire Business Start Up Fund: £1,000 to £2,500
• Start-up grants for new businesses in Shetland: up to £4,000
• Midlothian Business Start-Up Grant: up to £2,000
• Inverclyde Council New Business Start-Up Grant: up to £750
• Fife Start-Up Grant: up to £500

If you can’t find your area listed above, try searching on Scotland’s Find Business Support website to see what else is available.

Small business grants in Scotland for creatives

Grant amount: between £500 and £100,000

If you’re a self-employed artist or creative in Scotland, you can apply for the Creative Scotland – Open Fund for Individuals. This fund is designed to support you on a project lasting up to 24 months.

Applications are open all year round and will include a section about your work. We have a whole guide on making a creative portfolio if you need some inspiration.

Small business grants in Scotland for young people

Young entrepreneurs in Scotland can also apply for a series of grants designed specifically for them. As well as funding, these programmes often come with additional support for young entrepreneurs.

Prince’s Trust Youth Business Scotland

Grant amount: up to £5,000

The Prince’s Trust is available to young entrepreneurs aged between 18 and 25. As well as mentoring and training opportunities, there is start-up funding available.

While grants from the Prince’s Trust can go up to £5,000, you can combine this with a loan between £500 to £25,000.

As part of your application, you’ll need to provide a cashflow forecast and a budget.

Bridge 2 Business

Grant amount: up to £100

If you’re a college student in Scotland aged 18-45, you’re able to apply for business support and training through Bridge 2 Business (a part of Young Enterprise Scotland). If you’re under the age of 30, however, you can apply for their Test the Market grant for up to £100.

Youth self-employment programme

Grant amount: £1,000

If you’re between the ages of 18 and 25 and live in Perth and Kinross, you can get help starting your business with the youth self-employment programme. Not only does this include a grant, but mentorship, training sessions, and work experience.

Small business grants in Scotland for innovation

And finally, if your small business is all about change and innovation, there are grants available specifically to you. Some of these include:

SMART: SCOTLAND

Grant amount: up to £100,000

If you’re a small or medium business in Scotland looking to innovate your field, you could access this grant. Your work will need to support economic transformation or technological innovation. Whatever the topic, it needs to be highly ambitious to qualify for this funding.

Scottish Enterprise R&D grants

Grant amount: minimum of £150,000

Scottish Enterprise offers a range of different research and development grants to help you develop new products and services. While your specific grant amount will vary, for small businesses it’s usually between 35% and 50% of your project costs.

How to apply for business grants in Scotland – downloadable guide

If you’ve found a grant that works for your business, the next step is to write a top application. We have a guide covering everything you need to know about small business grants to help you out along the way.

We also have a downloadable grant application guide to make sure you’re getting the most out of your application.

You can also check out Business Boost, our own small business grant competition, which runs each year. Business Boost awards one lucky entrepreneur a £25,000 grant to help grow their business.

Have you ever received a business grant? Share your best tips in the comments.

More small businesses finance guides

• Small business funding and investment: how to grow your business
• How to budget: a budget calculator and guide for the self-employed
• Self-employed expenses – what expenses are tax deductible?
• Crowdfunding: is it right for your small business?
• What is business insurance?

Photo: Jennifer/stock.adobe.com