Funding your business
Accessing the right funding is one of the key challenges facing small businesses. Argyll Enterprise Week 2017 includes a whole day dedicated to linking up entrepreneurs with a range of potential funding sources. A series of 45-minute seminars will run at the Council Chambers, Kilmory, Lochgilphead, on Monday November 6, so that a range of funders can share what they have to offer your business and how to apply. A ‘marketplace’ of trade stands over the lunchtime period gives you an informal opportunity to find out more from funders and support providers and to network with other businesses. In the first seminar, Kate Fraser and Colin Fulcher, from Argyll and Bute Council, will be outlining the funding available through the council and how to apply. This includes the Business Gateway Local Accelerator Growth Programme, which can offer growth grants of up to £5,000, employer grants of up to £12,000 and key sector trade fair, training and accreditation grants of up to £1,500; the Rural Resettlement Fund, which can offer grants of up to £10,000 for relocating businesses and up to £5,000 for relocating individuals and those in self-employment; Business Loans Scotland, which can offer loans of up to £100,000 and the Argyll and the Islands LEADER Programme, which can offer grants of £5,000 upwards for small business and farm diversification projects. In seminar two, DSL Business Finance, a not-for-profit lender specialising in finance for small businesses, will highlight its range of loan funds. With access to Scottish Microfinance Loans, its own loan fund and a social enterprise loan fund, DSL can suggest the best option to suit a business whilst also providing support throughout the duration of the loan. Many, but not all, DSL clients are unable to source funding from the mainstream lenders and DSL regularly receives introductions from banks either when they are unable to assist a client or when there is a funding gap. Scottish EDGE is a business competition aimed at identifying and supporting Scotland’s upand-coming, innovative, high-growth entrepreneurial talent. More than £9million has been awarded to 263 businesses since Scottish EDGE launched. In seminar three, Scottish EDGE’s chief executive officer, Evelyn McDonald, will explain the different competitions on offer, the application process, how to complete a good application and construct a video pitch. Evelyn will be joined by Argyll entrepreneur Alasdair Ireland, who was successful in pitching for Scottish EDGE funds in 2016 for his innovative app ‘Hoolr’. Zero Waste Scotland is investing £18million as grant funding to small and medium sized enterprises which are helping to create a circular economy through minimising waste. In seminar four, Ryan Felber, from Zero Waste Scotland, will outline the funding sources available to businesses to implement resource efficiency projects. Ryan will also explain how businesses can benefit from the Resource Efficient Scotland programme through understanding energy, water and waste costs and identifying saving opportunities. Crowdfunding and peer-to-peer lending are ways of getting funding for an idea or business from groups of people. People can invest money in exchange for incentives, rewards, or even shares. Seminar five will include an overview of the different types of crowdfunding and websites. Niall Macalister Hall, of Beinn An Tuirc Distillery, will then outline how he ran his own crowdfunding campaign to raise investment for the launch of Kintyre Gin. In the final seminar, Lynne Lambie, an employer adviser with Skills Development Scotland (SDS), will cover the range of skills-related support available. SDS can help with identifying the skills needed in a business, creating a development plan and finding the right type of training, including support and funding available for the apprenticeship family. Places can be booked for some or all of the sessions at https://aew2017-funding. eventbrite.co.uk