Sunday 14 July 2024
 11.4°C   NNE Moderate Breeze
Ocean Kinetics - The Engineering Experts

Business / Grant scheme for new businesses to continue

A BUSINESS start-up grant scheme in Shetland is set to continue for a further 18 months after positive feedback.

The scheme will have a pot of funding worth a total of £50,000, with Shetland Islands Council (SIC) and Highlands and Enterprise each providing half.

During an 18-month pilot launched in 2022, a total of 11 new businesses received funding – from chocolate, copywriting, construction and coasteering companies to book-keeping and fitness initiatives.

Under the scheme grants between £500 and £4,000 will be on offer.

Speaking at a meeting of the local authority’s development committee on Wednesday, SIC economic development manager Tommy Coutts said feedback had been particularly positive regarding the engagement with the Business Gateway service.

He added that the scheme was helping to make businesses “more long-term sustainable”.

Development director Neil Grant also said there was a “real need” to invest in the small start-ups to diversify the business base in Shetland.

North Isles member Robert Thomson asked about the heated economy in Shetland at the moment, particularly when it came to shortages of staff, and whether supporting new businesses might place pressure on this.

But Grant said it is large projects, like construction, that are overheating the economy.

Shetland Central councillor Davie Sandison said it was important to take note of outcomes – but reiterated there was a need to encourage entrepreneurial growth, and called the scheme “good value”.

Council leader Emma Macdonald said the £25,000 contribution from the SIC would be relatively small, but would make a significant difference to small businesses.

Speaking as a former small business owner, Macdonald said start-ups need “need the opportunity to thrive”.

In a statement, head of enterprise support at HIE Shetland Fiona Stirling said: “The first phase of the Business Start up Scheme has delivered excellent outcomes to date. We’re delighted to work in partnership with Shetland Islands Council and Business Gateway to support the next phase of the scheme and look forward to new entrepreneurs coming forward.”

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.

 

Newsletters

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.