Outer Hebrides Business Development Scheme
Last Updated: 04 Jul 2024
Contents
Support provided by Western Isles Council (Comhairle Nan Eilean Siar)
What does this involve?
The Outer Hebrides Business Development Scheme (OHBDS) provides grant funding to businesses operating in the Outer Hebrides.
This funding can be used to purchase capital items of expenditure, such as tools, equipment and fixtures and fittings.
Grants of £3,000 for full-time businesses and £1,500 for part-time businesses are available, to cover up to 50% of your eligible costs.
The purpose of this scheme is to ensure that good, commercially viable businesses do not fail because they can't get finance, and to stimulate investment in new businesses and support long-term growth.
Am I eligible?
OHBDS funding is potentially available to businesses trading in the Outer Hebrides region.
Applicants may be:
- sole traders
- partnerships
- limited companies
- co-operative groups
- social enterprises
- other legitimate business trading entities.
Tourism accommodation developments are not eligible for support.
You must be able to show that you can fund the project until the grant can be claimed. Grant payments will be made only after you submit proof of spending. You shouldn't spend money on a project until your application has been approved and you have an official letter of offer.
Each application will be considered on its own merits. However, projects in areas which are already served by similar existing businesses are unlikely to receive funding.
The full list of eligibility criteria can be found on the Comhairle nan Eilean Siar website.
What does this cost?
There is no cost to apply, but you must be able to fund the project upfront until you can claim the grant. Grants will only be paid out after you submit proof of your expenses.
You shouldn't spend money on a project until your application has been approved and you have an official letter of offer.
These grants are only intended to cover up to 50% of your project costs. You must be able to cover the remainder from other sources.
Who is this for?
Businesses and business owners based in the Outer Hebrides.
How long does this take?
The time needed to approve an application will vary depending on your project's scale. Usually it will take anywhere from a few days to a few weeks.
Important information
To apply, you'll need to submit:
- a business plan
- financial projections for 3 years
- an application form
- bank statements
- other supporting information as required
Next steps
Visit the Comhairle nan Eilean Siar website for more information.
Support provided by Western Isles Council (Comhairle Nan Eilean Siar)