Funding

Funding


Grants and loan funds are available to support businesses based in Angus. 

We work alongside support agencies and funding partners to help new and existing businesses of all sizes. We are here to help you grow and thrive.

The following information about grants and funds was updated on 6th January 2020. Criteria and deadlines can change, so please check with the funding or grant provider before applying. 

A business grant can help you fund a specific project if you meet the criteria. You will not have to repay the grant as long as you keep to its conditions.

A grant may only cover part of the total cost of your project. You may need to contribute funding alongside the grant.

Fast Start: Innovation Fund

Innovate UK is offering small and micro businesses a share of up to £30 million in grants alongside tailored business support delivered by Innovate UK EDGE. Businesses can apply for up to £50,000 for highly innovative ideas that have a clear route to commercialisation through business growth.

Your project must lead to new products, processes or services that are significantly ahead of others currently available, or propose an innovative use of existing products, processes or services. It can also involve a new or innovative business model.

  • Competition opens: Monday 11 July 2022
  • Competition closes: Tuesday 26 July 2022 11am

Find out more and apply.

Destination Net Zero Electric Vehicle Charge Point Tourism Recovery Fund

The Destination Net Zero programme is one of the Scottish Government’s funded Covid-19 tourism recovery projects. It aims to provide support for businesses to develop their Net Zero Action Plans, building their resilience and aligning with Scottish Government targets.

The fund will contribute to businesses’ recovery and resilience and prepare Scottish Tourism for the future and the growth of electric vehicle (EV) usage.

Installing an EV charge point will enable businesses to demonstrate their commitment to responsible tourism practices and ensure their offering will make it easier for visitors to make environmentally conscious travel decisions.

The fund is open to all eligible tourism businesses in Scotland who have an appropriate space in which an EV charge point can be safely installed and used by visitors and staff.

The funding available is 75% of the total cost of the charge point and installation (including applicable VAT), up to a maximum of £15,000. Funding will be allocated on a first come, first served basis until 8 September 2022 (or earlier if budget is used before this date)Funding is not available for installations that have already taken place or for installations already in progress.

See full guidance and apply on the Energy Saving Trust website.

Green Certification Schemes for Tourism Businesses

Sustainability certification schemes have a range of benefits. Taking part in a scheme is a great way of reviewing your environmental, social, and economic impact and facilitating action to maximise the positive benefits to your business and wider community and environment. Gaining green certification provides a good opportunity to showcase your green credentials as well as managing your sustainability actions.

As part of the Destination Net Zero Programme, the Sustainability Certification Scheme Fund for Tourism Recovery was launched, providing grant funding to certification providers to support businesses to recover from the impacts of COVID-19 in a sustainable manner. As a result, three sustainable tourism certification scheme providers were successful in securing funds to offer tourism businesses a membership fee discount.

The certification programme providers are offering a £500 discount to businesses joining their certification schemes before March 2023 (or until all funding is used up). The discounts are limited, and will be provided on a first come, first served basis.

Find out more and apply.

Visit FindBusinessSupport.gov.scot for details of other funding streams currently available. 

Regional Selective Assistance (RSA) grant

Criteria: Create or safeguard jobs

The Regional Selective Assistance (RSA) is a discretionary grant available for businesses who want to develop a project in Scotland. It is operated by Scottish Enterprise. 

Support is available if your project will result in the creation or safeguarding of jobs. The amount offered depends on the size of your business, the location, and the cost of the project.

Learn more about the Regional Selective Assistance (RSA) grant

Green Jobs Fund

Criteria: Create jobs

The £4 million green jobs call will open to applications on Tuesday 18 May with grants from £50,000 up to a maximum of £500,000 being awarded on a competitive basis. It is part of a £27 million package of green funding that Scottish Enterprise will distribute to businesses operating in Scotland over the next three years.

Supported through the Scottish Government’s Green Jobs Fund, the funding call is part of Scottish Enterprise’s wider commitment to supporting Scotland’s net zero transition that delivers benefits for our environment, people and economic prosperity.

Learn more about the Green Jobs Fund.

A business loan can help with start-up costs, growth, and development. 

It will need to be repaid over a pre-agreed time. You may pay interest on the loan. The repayment period and interest rate will vary depending on the provider’s terms.

Michelin Development Fund

Criteria: Fund creation of new jobs

The Michelin Development Fund offers low-interest loans ranging from £5,000 to £50,000 over 3-5 years. Applicants can choose financial help, business advice, or both.

The fund aims to contribute to the economic regeneration of the Angus and Dundee area by helping businesses create new jobs.

Your business must be an SME in the manufacturing, engineering, or service sector. You must be based in, or relocating to, the Angus or Dundee area.

Learn more about the Michelin Development Fund

Funding Circle

Criteria: Small businesses only

Funding Circle is part of the Government-backed British Business Bank Investment Programme. The programme aims to support economic growth by providing more efficient finance to small businesses.

You can borrow £10,000 to £1m for any purpose. You can pay the loan back over six months to five years. There are no fees for full early repayment. Interest rates start at 1.9% per year.

Learn more about the Funding Circle

The Enterprise Finance Guarantee scheme

Criteria: Almost all business sectors are eligible

The Enterprise Finance Guarantee (EFG) scheme supports businesses that cannot secure a loan or other form of ‘debt finance’. This may be due to inadequate security or a lack of proven track record in the marketplace.

The British Business Bank operates this scheme. They are a Government-owned, independently-run development bank. 

There are over 40 lenders participating in the EFG scheme. They range from well-known banks to small specialist institutions.

Loans are available from £1,000 to £1.2m.

Learn more about the Enterprise Finance Guarantee scheme

Princes Trust Youth Business Scotland

Criteria: 18 to 30-year-olds starting a business

The Princes Trust Youth Business Scotland scheme provides support if you are aged between 18 and 30 years old and starting a business. The programme also includes training and mentoring support.

Low-interest loans of up to £7,500 are available. The scheme also offers business grants for small start-ups in some circumstances.

Learn more about the Princes Trust Youth Business Scotland scheme.

CEIS Business Finance

Criteria: Small businesses and social enterprises

CEIS support small businesses and social enterprises that are unable to access funding from traditional sources like banks. CEIS offers a range of finance solutions and support services to help establish and grow your business.

CEIS provides start-up loans of up to £25,000 or loans of up to £50,000 for existing businesses.

Learn more about CEIS Business Finance 

Business Loans Scotland

Criteria: New or growing SME

Business Loans Scotland (BLS) is the Fund Manager for a £7m loan fund. BLS is a consortium of Scotland’s Local Authorities. They provide funding to new and growing SMEs across Scotland.

They aim to help Scottish businesses trade regionally, nationally and internationally. You can borrow from £25,000 to £100,00 at a fixed interest rate of 6%.

Learn more about Business Loans Scotland

Crowdfunding is an alternative way to raise money for your idea from the people around you. Crowdfunding Angus provides expert crowdfunding coaching, events and grants to fund new business ideas.

If you have a crowdfunding project that aims to deliver better services to people in Angus, you could be eligible for a grant from Angus Council.

Examples of suitable projects include those that:

  • reduce child poverty
  • improve mental health and wellbeing
  • improve accessibility
  • improve connectivity
  • have the support of the Angus community

By asking the “crowd” to invest in your idea through an online campaign, you can secure the funding you need to deliver your concept. 

Crowdfunding is also a powerful tool to help you test new ideas with your customers and improve those ideas based on feedback.

Learn more about Crowdfund Angus

Business Start-up Support

Crowdfunder  UK is offering zero platform fees for those fundraising to start up a new business after being affected by coronavirus.

This type of funding applies to businesses who want to reduce their environmental impact by becoming more energy efficient.

Business Energy Scotland

Criteria: Small and medium sized businesses

Business Energy Scotland is funded by the Scottish Government to provide free and impartial support to help small and medium-sized businesses save energy, carbon and money.

Previously known as the Energy Efficiency Business Support Service, Business Energy Scotland launched in April 2022 and is managed by Energy Saving Trust.

Whether you are just starting out on your energy-saving journey and need some pointers or are looking for expertise and funding to support your current plans, Business Energy Scotland’s team of experienced business advisors and energy-saving consultants are here to help.

Learn more about Business Energy Scotland

Circular Economy Investment Fund and Business Support Service

Criteria: Circular economy product or business model

Circular Tayside provides knowledge and resources to help businesses join the circular economy business movement. The service is run by Dundee and Angus Chamber of Commerce, Perthshire Chamber of Commerce and Zero Waste Scotland. 

The fund is available to micro-enterprises, SMEs, social enterprises, and third sector organisations. It can help you to:

  • introduce an innovative circular economy product
  • Make the change to an innovative circular economy business model

Grants of between £50,000 and £1m are available. Free business support is also available to help organisations develop their circular economy idea.

Learn more about the Circular Economy Investment Fund and Business Support Service

SME Loan Fund from Resource Efficient Scotland

Criteria: Installation of energy-efficient measures

The SME Loan from Resource Efficient Scotland offers unsecured, interest-free loans for the installation of energy-efficient measures. Examples include:

  • lighting and heating upgrades
  • double glazing
  • insulation
  • waste reduction

The programme is delivered by Zero Waste Scotland who offer loans from £1000 to £100,000 for suitable projects.

Learn more about the SME Loan Fund

Local Energy Scotland

Criteria: Non-profit organisations and rural businesses

Local Energy Scotland manages the Scottish Government’s Community and Renewable Energy Scheme (CARES). This scheme offers advice about all aspects of local, renewable energy. It also offers funding to support your project.

Loans and grants of up to £150,000 are available for local energy projects.

Learn more about Local Energy Scotland

Energy Saving Trust – Low Carbon Transport Loan

Criteria: Lower transport and travel costs

The Low Carbon Transport Business Loan offers interest-free loans of up to £120,000 for Scottish businesses. They aim to help you lower your transport and travel costs.

This loan can help you reduce your carbon emissions, save money and increase your competitiveness. There are many different uses, including:

  • Purchasing electric hybrid vehicles
  • Installing vehicle efficiency devices such as telematics systems
  • Installing video and teleconferencing facilities

Learn more about the Low Carbon Transport Loan from the Energy Saving Trust.

There are some organisations that offer funding for social enterprises, charities, and community projects.

Firstport

Criteria: New social enterprises

Firstport is part of the Scottish Government’s Social Entrepreneurs Fund. It supports new and emerging social entrepreneurs across Scotland. It offers business support, funding and resources to help you start a social enterprise in Scotland.

It offers repayable grants of between £30,000 and £50,000.

Learn more about the Firstport funding scheme

Nesta

Criteria: Innovative social ventures

Nesta invests in social ventures offering innovative products or services that help address the UK’s most pressing challenges. Examples of these challenges include:

  • the ageing population
  • educational attainment
  • environmentally sustainable communities

Nesta can help your social enterprise understand opportunities, test new ideas, and scale up. There are no set limits for the amount of funding provided.

Learn more about Nesta

Lloyds Bank and Bank of Scotland Social Entrepreneurs Programme

Criteria: Projects with social or environmental impact

The Lloyds Bank and Bank of Scotland Social Entrepreneurs Programme helps social enterprises, charities, community projects and impact-led organisations to start and grow.

They offer a learning programme, grants of between £1,000 and £7,000, mentoring, and a supportive community.

Learn more about the Lloyds Bank and Bank of Scotland Social Entrepreneurs Programme

The following organisations provide funding but do not fit into the categories above.

Food Processing, Marketing and Cooperation (FPMC) scheme

Criteria: Food and drink sector businesses

The Food Processing, Marketing and Cooperation (FPMC) scheme provides grants to suppliers and producers who contribute to the Scottish food and drink sector.

Through this scheme, you can apply for:

  • start-up grants for a new food processing business
  • development grants for an existing food processing business

The maximum grant award available is £500,000.

Learn more about the Food Processing, Marketing and Cooperation (FPMC) scheme

Scottish Co-Investment Fund

Criteria: SMEs with less than 250 employees and less than €50m turnover

The Scottish Co-Investment Fund aims to address funding gaps for businesses who are expanding into new markets or are developing new products. Scottish Enterprise manages this fund in partnership with accredited investment partners. 

This is an equity fund with deals brought forward by partners of the Scottish Enterprise. The investment partner invests on equal terms with the Scottish Enterprise.

The fund can:

  • Match accredited investment partners up to a maximum of 50% of the total funding package on a commercial basis
  • Provide from £10,000 up to £1.5m, as part of an overall deal size typically ranging from £20,000 up to £10m

Learn more about the Scottish Co-Investment Fund

The Scottish Venture Fund

Criteria: Requires secure funding offer from private sector investor(s)

The Scottish Venture Fund aims to address funding gaps for businesses who are seeking funding to develop products or new markets. This fund is managed by Scottish Enterprise.

This  Scottish Venture Fund can invest alongside private sector investors on equal terms. You need to secure an offer of funding from a private sector investor before you can approach Scottish Enterprise. They can then assess the gap in your investment package.

The fund provides from £10,000 up to £2m, as part of a total deal size typically ranging from £20,000 to £10m.

Learn more about the Scottish Venture Fund

Interface – Startup or Growth

Criteria: SMEs

Interface connects businesses from any sector to Scotland’s universities, research institutes and colleges. They administer funding programmes offered by The Scottish Funding Council. 

Interface can help you find the right University to take your project forward. This can help you develop a new product, process or service, or develop skills in your workforce.

If your project is innovative, the University can apply for up to £5,000 to cover the cost of the project. This is match-funded by the time that your business spends on the project. 

An additional fund of up £20,000 is available for a second project with a University. This must be matched with cash.

Learn more about Interface – Startup or Growth

Scottish EDGE

Criteria: New entrepreneurs with high potential

Scottish EDGE is a competition aimed at identifying and supporting new entrepreneurial talent. The competition aims to attract innovative businesses in Scotland with the potential for high growth.

Prize funding of up to £150,000 is available through four separate categories;

  • Scottish Edge: all companies that apply and meet the eligibility criteria enter in this category
  • Higgs Edge: for Science, Technology and Engineering focused businesses
  • Creative EDGE: for businesses from within Scotland’s Creative Sector
  • Social Enterprise EDGE: for Social Enterprise businesses
  • Circular Economy EDGE: for circular focused businesses
  • Wild Card Edge: open to pre-trading businesses
  • Young Edge: designed to support Companies whose Directors are all aged 18-30

Learn more about Scottish EDGE