Focus on alternative funding sources

ACCESS to funding has been identified as one of the key challenges for small businesses.

Argyll Enterprise Week has this as one of its central themes, with a whole day dedicated to linking entrepreneurs with a range of alternative sources of funding.

On Tuesday November 1, a series of five free one-hour seminars will run throughout the day, so funders can outline what they have to offer and how to apply, and businesses can make contact and ask questions.

The SJ Noble Trust was set up in memory of Johnny Noble, the co-founder of Loch Fyne Oysters. A keen supporter of rural regeneration, the trust offers grants and interest-free loans to new or existing businesses, typically in the region of £5,000.

DSL Business Finance Ltd is a not-for-profit lender specialising in finance for SMEs and third sector social enterprises. It is the only Scottish-based delivery partner for the UK government’s Start-up Loans scheme and using this, its own loan fund, or a combination of both, DSL is able to provide loans to business for which there are no age or sectoral restrictions.

Crowdfunding is a growing source of finance for business, with many different platforms emerging. Growthdeck is a multi-channel platform

that can help raise finance for a business through the sale of equity to its investor network. Growthdeck has raised more than £4.75 million from nearly 4,000 investors.

The Scottish EDGE offers funding and support to help entrepreneurs realise their growth ambitions.

It runs as a pitching competition and the businesses which demonstrate the most potential could win grant and loan funding of up

to £100,000 to deliver their growth plans

Council representatives will outline the funding on offer from two programmes expected to launch in October – the Business Gateway Local Growth Accelerator Programme, which will offer grants of up to £5,000 to support business growth and the Argyll and the Isles Leader programme, which will offer grants to small businesses of up to £50,000.