The Shetland Islands Council Economic Development Grant Scheme provides grants of up to £25,000 to small to medium-sized businesses (SMEs) and third sector organisations based in Shetland. It aims to help companies with the costs related to developing growth or research projects.

Financial assistance is provided to businesses which can demonstrate that their projects meet key eligibility criteria, and where the projects will result in benefits to the Shetland economy.

To apply, you should have a development plan, which a Business Gateway adviser can help you with.

Grants may be awarded for:

• capital expenditure – equipment, building and/or engineering costs, building improvements
• revenue expenditure – professional fees, marketing and promotion, office costs, travel costs
• working capital – up to a maximum of £5,000

Applicants must be a small to medium-sized business (SME) or a third sector organisation based in Shetland. You must be able to demonstrate that a number of the following outcomes can be achieved:

• improved product quality
• import substitution
• new market development
• improved productivity
• improved service delivery
• introduction of new or improved manufacturing processes
• introduction of new business activity

Applicants must also be able to demonstrate some pre-specified secondary priorities in their submission - more detail on these can be found on the Shetland Island Council's website using the link below.

Projects which are in direct competition with other local businesses (or have the potential to be so) will not be considered for support.

You must provide 70% match funding for development grants and 50% match funding for research grants.

Small or medium-sized businesses (SMEs) and third sector organisations based in Shetland that are looking to develop growth or research projects.

Timescales will vary depending on the amount of grant you apply for and the quality of your application submission.

Grants are paid in arrears, after you submit evidence of the amount you've spent for approved items. You cannot claim for items purchased or committed to before your grant application is approved.

Visit the Shetland Islands Council website to check your eligibility and submit an online enquiry.