Young Business Capital Fund
This fund is open to applications until 12 August, apply today.
HIE's Young Business Capital Fund supports businesses of five years or less to achieve their growth ambitions, create or retain jobs and increase productivity.
One example of a business supported through the fund is Argyll Coffee Roasters, which was awarded £10,751.
Based in Tighnabruaich on the Cowal peninsula, founder Eve Macfarlane operates a coffee roasting enterprise, selling roasted speciality coffee to wholesale and trade customers as well as directly to customers online. They also provide a coffee subscription service and run a coffee bar.
Eve said: “We were really keen on expanding our product range and increasing our sales, however, adequate storage space for growing the business was challenging as packing alone took up a significant amount of space.
“The young business capital grant enabled us to purchase new storage and quality control equipment such as moveable benches and a moisture meter, as well as automated weighing, bagging and sealing equipment. This has really helped increase productivity within the business and we are now producing more coffee for sale following growing demand for our products.”
The project has also resulted in the creation of a new full-time operations manager post to support the growth of the business.
Eve initially turned to HIE for advice in 2018 where she received support through the HIE-supported W-Power programme, which was part of the EU Northern Periphery and Arctic (NPA) programme.
Eve said: “W-Power gave our business some great opportunities for networking and business skills development, and we were absolutely delighted to be involved in the project. Working together with likeminded businesses across other rural areas across Europe, helped us to share ideas and good practice. Together we were able to empower business-women across the region to develop and grow their businesses.”