UHI Shetland - Open the door to your future
Sunday 23 June 2024
 11.4°C   WSW Moderate Breeze
Ocean Kinetics - The Engineering Experts

Council / Councillors approve new business start-up grant scheme

SMALL grants will be on offer to local business start-ups through a new funding scheme.

The scheme is a joint initiative between Shetland Islands Council and Highlands and Islands Enterprise, with both organisations pledging £25,000 each.

The scheme, approved by councillors on Monday, aims to encourage new business starts while stimulating diversity and entrepreneurship.

It will offer grants of up to £2,000, but there will be additional top-ups available for some applicants.

It will operate for a pilot period of 18 months from 1 April and the funding will support early capital investment, training costs and marketing and promotion.

There will also be a further £1,000 of top-up funding available to incentivise applications from people who will contribute to Shetland’s net zero ambitions, as well as young entrepreneurs.

This means for some the maximum grant on offer will be £4,000.

Development committee chairman Alastair Cooper he was “absolutely delighted” to see the fund come to fruition.

He felt it could potentially be the difference between young people going ahead with a business or not.

“They need support in that critical stage as they enter into business,” Cooper said.

Councillors also approved continued financial support for the existing economic development grant scheme.

In 2021/22 the scheme has supported 16 projects with total grant commitments of just over £270,000.

Some changes were also approved to the Shetland Investment Fund, which was formed to support businesses through investment capital.

Become a supporter of Shetland News

Shetland News is asking its many readers to consider start paying for their dose of the latest local news delivered straight to their PC, tablet or mobile phone.

Journalism comes at a price and because that price is not being paid in today’s rapidly changing media world, most publishers - national and local - struggle financially despite very healthy audience figures.

Most online publishers have started charging for access to their websites, others have chosen a different route. Shetland News currently has  over 600 supporters  who are all making small voluntary financial contributions. All funds go towards covering our cost and improving the service further.

Your contribution will ensure Shetland News can: -

  • Bring you the headlines as they happen;
  • Stay editorially independent;
  • Give a voice to the community;
  • Grow site traffic further;
  • Research and publish more in-depth news, including more Shetland Lives features.

If you appreciate what we do and feel strongly about impartial local journalism, then please become a supporter of Shetland News by either making a single payment or monthly subscription.

Support us from as little as £3 per month – it only takes a minute to sign up. Thank you.



Subscribe to a selection of different newsletters from Shetland News, varying from breaking news delivered on the minute, to a weekly round-up of the opinion posts. All delivered straight to your inbox.

Daily Briefing Newsletter Weekly Highlights Newsletter Opinion Newsletter Life in Shetland Newsletter

JavaScript Required

We're sorry, but Shetland News isn't fully functional without JavaScript enabled.
Head over to the help page for instructions on how to enable JavaScript on your browser.

Your Privacy

We use cookies on our site to improve your experience.
By using our service, you agree to our Privacy Policy and Cookie Policy.

Browser is out-of-date

Shetland News isn't fully functional with this version of .
Head over to the help page for instructions on updating your browser for more security, improved speed and the best overall experience on this site.

Interested in Notifications?

Get notifications from Shetland News for important and breaking news.
You can unsubscribe at any time.

Become a supporter of Shetland News

We're committed to ensuring everyone has equitable access to impartial, open and quality local journalism that benefits all residents.

By supporting Shetland News, you play a vital role in ensuring we remain a pivotal resource in supporting the community.

Support us from as little as £3 per month – it only takes a minute to sign up. Thank you.