Business advice

Growing Business Growth Fund

Moving your business to the next level

  • Is your business based in the Highlands and looking to grow, introduce a new product, process or innovation?
  • Are you a small to medium-sized enterprise?
  • Are you looking to create new jobs, expand or move premises, invest in equipment or needing support to grow?

If yes, you may be eligible for the Highlands Growing Business Growth Programme.

Funding available

  • Capital grants up to £10,000 may be available from the UK Shared prosperity fund.
  • Loan finance under a fast-track system from the Highland Loan fund
  • If project costs are higher and you would need to identify additional support, there are potential solutions to help make your growth plans achievable. This equates to potentially accessing of over 50% of costs for a growth project in the Highlands.

Contributions and match funding

The amount of contributions or 'match funding' you need to provide will depend on the project. This should be discussed with the Business Gateway Highland team.

The funding support package has been created to support the growth and development of existing small and medium-sized businesses in Highland. Your local Business Gateway Advisor can assist with any additional questions.

What can the support package be used for?

The Business Growth Fund can be used to help your business grow or diversify, for example:

  • introduce new innovative technology products or services that improve performance - these do not need to be unique but new to the business;
  • premises improvement or expansion related to business development, new products or services;
  • acquire capital equipment to enable a more technical or efficiency/ productivity enhanced approach;
  • increasing staffing to meet market needs;
  • introduce flexible working or new practices for staff or enhancing customer services;
  • investment in new systems or processes for operations etc.

This list provides examples of growth elements. It is recommended that you discuss your project with a Business Gateway adviser as soon as possible.

Restrictions

The support package cannot be used for the following:

  • Essential running costs - for example, insurance, salaries, utility charges, recruitment fees, tax
  • Stock and accredited training
  • Goods or services already purchased
  • Broadband or ICT costs, although we can help assess potential digital support
  • Existing loans or debts
  • Replacing old for new equipment on a like-for-like basis

Further eligibility criteria may apply and purchases made before application approval will not be eligible.

Business plan

In order to receive this support package, a business plan will be required.

We would advise you to contact Business Gateway Highland if you require help completing your business plan or application.

The Business Growth Grant is managed by Business Gateway Highland.

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