Grants
Regional Selective Assistance (RSA)
A discretionary grant towards the capital costs of investment projects which create or safeguard jobs in Assisted Areas. Eligible project costs can include new and second hand plant and machinery, buildings, the purchase of land and site preparation. It covers most manufacturing businesses and certain service based activities which serve markets outwith the local area. Follow this link for more information.
Scottish Enterprise Edinburgh & Lothian Overseas Visit & Exhibition Grant A grant to support small firms development of export activities. Provides 50% contribution towards the costs incurred in overseas visits/attendance at an exhibition offering export prospects, to a maximum of £250 for UK visits and exhibitions and up to £500 for overseas visits and exhibitions. To contact Business Gateway International Trade Lothian call Elaine Phillip on (t) 01506 407 027, or email elaine.philip@scotent.co.uk
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Innovation Funds
SMART:SCOTLAND SMART:SCOTLAND is intended to help small and medium-sized businesses to improve their competitiveness by developing new, highly innovative and commercially viable products or processes to the benefit of the national economy. Individuals and SMEs based in Scotland or planning to set up in Scotland can receive support for Technical and Commercial Feasibility Studies lasting between 6 - 18 months. The maximum grant award available is £70,000 representing 75% of the eligible project costs. A Research and Development grant of 35% of eligible project costs, up to a maximum grant of £600,000, is also available to SMEs to develop a pre-production prototype. Projects must last between 6 - 36 months. Both Feasibility Studies and Research and Development projects must involve a significant technological advance for the UK industry or sector concerned.
For more information follow this link. Scottish Enterprise Innovation Fund
Grants of up to 50% of eligible costs (max £50,000) for companies developing new products. Projects have to be innovative and involve a degree of technical risk. The project must be an innovative development of a product or process new to the company. Funding will support market research, product development up to pre production prototype stage and marketing activity. The applicant must own or, have the rights to exploit, the intellectual property rights.
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Loans
Scottish Enterprise Business Growth Fund The Business Growth Fund provides loan and equity investments between £20,000 and £100,000 to businesses that show ambition to grow, and that satisfy various criteria relating to their size and commercial viability. The business must be a limited company with a registered head office in Scotland. Support is available for companies falling into the SME size ranges but companies must be independently owned. Certain sectoral restrictions apply. Link to Business Growth Fund Small Firms Loan Guarantee (SFLG)
The SFLG guarantees loans from the banks and other financial institutions for small firms that have viable business proposals but who have tried and failed to get a conventional loan because of lack of security. Further information can be found at: www.dti.gov.uk/raisingfinance/
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Equity Funds
Scottish Co-Investment Fund
Unlike a standard Venture Capital fund or a business angel, the SCF does not find and negotiate investment deals on its own. Instead, it forms contractual partnerships with active VC fund managers, business angels and business angel syndicates from the private sector. In these partnerships the private sector Partner finds the investment opportunity, negotiates the investment deal and offers to invest their own equity cash. If the opportunity needs more money that the private sector Partner can provide, the Partner can call on SCF to "co-invest" alongside it, on equal terms. The SCF would become part of the investment syndicate. Follow this link for more information. LINC Local Investment Networking Company (LINC) can introduce small firms looking for equity finance, usually in the range £20,000 to £250,000 to private investors (Business Angels). A business plan is required from companies seeking support. Follow this link for more information. Scottish Equity Partners
Scottish Equity Partners is a technology focused venture capital company providing equity finance to new and growing technology companies through a range of funds. The Partnership is backed by a number of significant investors including Standard Life, Royal Bank of Scotland, Bank of Scotland, Martin Currie and Scottish Power. Investments can range between £500,000 and £1.5m in start up, early stage and expanding businesses. Follow this link for more information.
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Advisers at the Business Gateway West Lothian are well versed in the eligibility criteria for the schemes of financial assistance currently on offer. They can help you search for grants and other funds which are appropriate to your new business, and have a proven track record in helping to access these funds. Equally where financial assistance is unlikely to be forthcoming, they'll give you a straightforward answer. This section includes information about the various funds available for new businesses starting in West Lothian. Use the navigation on the left to find out more.