The Caithness Business Fund is a private sector initiative dedicated to driving economic growth across the Caithness and North Sutherland regions. Managed by the Caithness Chamber of Commerce, the fund serves as a strategic resource for small and medium-sized enterprises (SMEs) looking to strengthen their business base, promote local innovation, and create sustainable employment opportunities. By providing targeted financial grants, the fund assists both new entrepreneurs and established businesses in upskilling their workforce and navigating the challenges of a competitive regional market.
Apprenticeship and FutureSkills Grants
- Provision of Apprenticeship Grants for businesses demonstrating a strong commitment to modern apprenticeships and supportive career pathways.
- Availability of the FutureSkills apprenticeship scheme, offering financial support up to a maximum of £24,500 over a three-year period.
- Variable grant awards based on specific business needs, the nature of the apprenticeship, and the availability of complementary funding sources.
- Requirement for businesses to demonstrate a desire to grow and create new employment through host pathways.
Business Development and Training Grants
- Availability of Training Grants for businesses seeking to provide relevant professional courses for their employees.
- Requirement for training applications to demonstrate a clear linkage to overall business growth and development.
- Provision of Business Start-Up Grants for individuals with the potential and desire to create employment through new ventures.
- Restriction of start-up funding for "lifestyle" businesses unless they offer unique benefits to the local area.
- Availability of Business Growth Grants for existing entities that can demonstrate the direct creation of new jobs.
Eligibility Criteria for Applicants
- Must be a small to medium-sized enterprise (SME), including sole traders, partnerships, or limited companies.
- Must be based within the Dounreay Travel to Work Area, covering Caithness, north west to Melness/Tongue, and south to Brora in Sutherland.
- Must demonstrate the development of an existing business through growth plans, training, or apprenticeships.
- Must prove that new business startups will not significantly displace existing local businesses.
- Must provide evidence of financial viability and suitable progress reports as required.
Excluded Sectors and Activities
- Prohibitions on funding for activities related to alcohol, weapons, gambling, or financial services.
- Exclusion of primary agriculture and forestry, though limited funds may be available upon specific inquiry.
- Restriction on property development and any activities deemed to have a detrimental impact on the environment.
- Exclusion of morally or ethically controversial activities.
- General requirement to consult with the fund team regarding ringfenced funds that may have specific sectoral restrictions.
Conditions of Grant Award
- Mandatory agreement to participate in publicity related to the grant award.
- Strict prohibition on applications for retrospective funding; costs must not be incurred before an award is made.
- Requirement to submit regular progress reports as reasonably requested by the fund management.
- Possibility of additional specific conditions being placed on individual grant awards following assessment.
- Requirement for comprehensive information including business plans and financial forecasts for the assessment process.
Application Support and Procedures
- Regular assessment meetings held by the fund to review and approve incoming applications.
- Access to free support for the production of business plans and financial forecasts through the Dounreay-funded Business Support Programme.
- Requirement for applicants to contact the Chamber team prior to submission to ensure all necessary information is included.
- Availability of downloadable application forms and detailed guidelines via the official fund management portal.
- Direct access to the management company for assistance with application queries or the production of financial documentation.
By bridging the gap between private sector contributions and local enterprise needs, the Caithness Business Fund provides a critical platform for regional advancement. This structured support system ensures that businesses in the North of Scotland have the necessary resources to expand their capabilities and secure a prosperous future for the local workforce.