New start up grant to be launched next month

A business start-up grant will be launched next month aimed at helping under 30s and businesses with net zero aspirations get off the ground.

Thomas Coutts, SIC executive manager for economic development, made the announcement at today’s (Tuesday) development committee meeting.

The Shetland Business Start-up Grant, to be launched on 1st April, will award grants of up to £2,000 to support early capital investment, training costs and marketing and promotion, and will incentivise applications from young entrepreneurs and businesses which contribute to Shetland’s net zero ambitions.

The scheme will offer further top up funding of £1,000 in each category to a maximum of £4,000.

The pilot scheme has been funded by SIC’s economic development service and Highlands and Islands Enterprise (HIE) with a total initial purse of £50,000 and will add to the existing Shetland Investment Fund and Economic Development Grant Scheme.