ScotComp
New Member
Today I had a meeting with the Prince's Scottish Youth Business Trust and Business Gateway about funding that's available to persons such as myself who are under the age of 26.
I was advised that there are no grants whatsoever available this year because of the cuts and they doubt very much that I'd even be able to get a grant next year because they're mainly for the unemployed.
I was then given details of the business loan which is set at 4% interest and can go up to £5,000, they require you to provide a credit report, a business plan, figures for your business and then go in front of a funding panel and answer some questions. The loan would need to be repaid pretty much straight away.
For a country that's trying to bolster it's private sector and get more and more people into self employment, am I the only one that thinks the above funding really isn't good enough?
I appreciate that a 4% loan is a good interest rate but why do they need to charge it if the government is looking for this organisation to become bigger and better and hopefully invest more into society? Why do the businesses need to pay it straight away? Can't they be allow for delayed payments to let the companies get up and running before chasing them for money?
It annoys me that once again I'm being given less support because I'm not unemployed?
Sorry... rant over!
I was advised that there are no grants whatsoever available this year because of the cuts and they doubt very much that I'd even be able to get a grant next year because they're mainly for the unemployed.
I was then given details of the business loan which is set at 4% interest and can go up to £5,000, they require you to provide a credit report, a business plan, figures for your business and then go in front of a funding panel and answer some questions. The loan would need to be repaid pretty much straight away.
For a country that's trying to bolster it's private sector and get more and more people into self employment, am I the only one that thinks the above funding really isn't good enough?
I appreciate that a 4% loan is a good interest rate but why do they need to charge it if the government is looking for this organisation to become bigger and better and hopefully invest more into society? Why do the businesses need to pay it straight away? Can't they be allow for delayed payments to let the companies get up and running before chasing them for money?
It annoys me that once again I'm being given less support because I'm not unemployed?
Sorry... rant over!