Shetland Islands Council has established a Business Transition Fund to support and incentivise businesses to adapt to new ways of working or make investment to remain competitive.
The Business Transition Fund will offer grants of between £1,000 and £10,000 for businesses to invest in adaptations and new ways of working e.g. implementation of new online systems, new machinery, investment in green technology to reduce costs, etc.
The Business Transition Fund is financed from funding made available through the Scottish Government’s Local Authority COVID-19 Economic Recovery Fund.
Grants will support up to 75% of project costs, and businesses will be expected to provide details of how proposals will be match funded. The support provided will seek to ensure investment in new ways of working are in line with the Council’s net zero target.
Investment costs relating to growing or diversifying a business will be considered under the scheme. These might include, but are not limited to, the following:
- Premises adaptation, upgrades and improvements;
- Digital launch, marketing, and publicity costs for new business activities or products;
- New digital sales and/or booking platforms;
- Energy efficiency upgrades, such as lighting, windows, walls or energy options including solar panels, small-scale wind turbines and air source heating;
- Specialist training for staff.
Further information on the Business Transition Fund, including how to apply can be found here
The fund is now open for applications and will close when all funds are committed, or on 31 January 2023, whichever comes first.