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May 2nd 2018

Grant support in Orkney

Here’s a rundown of some financial support options currently available to Orkney-based businesses.

Flexible business development grant

  • £750 to £5,000 towards total costs at a maximum of 50% contribution
  • For capex, marketing, training, or other significant costs as agreed (not working capital)
  • Businesses just serving existing Orkney markets are unlikely to be eligible
  • Preferred sectors: tourism, food & drink, green tech, manufacturing, creative, social enterprise

Graduate placement scheme

  • Up to £15,000 towards wages and NIC, year 1 only, maximum 50% contribution
  • Graduates must be qualified to at least HND level and employed within 2 years of graduation
  • A lower level of funding is available for post-graduates
  • Preferred sectors as above, though other sectors may be considered

Economic development grant scheme

  • Up to £55,000 towards capital expenditure, maximum 30% contribution
  • Targeted to projects which encourage economic diversification; raise average wages; improve exports; or otherwise benefit the Orkney economy
  • Preferred sectors as above
  • Proposals must be accompanied with a robust business plan

New business start-up

  • £500 to £1,500 towards capex, marketing, training or start-up costs
  • Priorities: creating employment; supporting fragile communities; boosting the local economy
  • Proposals must be accompanied with a business plan and 2 year cashflow forecast

Rural shop grant

  • Up to 75% of eligible costs, depending on location; maximum of £10,000 (normally) in any three-year period
  • General stores are considered eligible if they stock a range of foodstuffs and household goods
  • Petrol pumps considered separately

Tourism grant

  • Various schemes available for upgrades to existing accommodation; new facilities at existing accommodation; and new or upgraded visitor attractions
  • Up to 30% of eligible costs for some schemes, with a maximum grant of up to £55,000
  • Projects which are considered to be repairs & maintenance, or like-for-like replacements of existing assets, are not eligible

Community development fund

  • Aims to support projects benefiting the community as a whole
  • Up to £100,000 towards eligible costs, maximum 50% contribution
  • An ‘own resources’ contribution of 5% required
  • Available to formally constituted community councils, development trusts etc

For support with your grant application, contact us today. To apply, contact Claire Kemp at Business Gateway on 01856 886666.

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