Highlands and Islands Enterprise (HIE) has launched its fourth round of transformative funding aimed at propelling the region’s newest businesses towards significant growth and innovation.
The Young Business Capital Grant scheme, which has already pumped nearly £3 million into Highland enterprises, opens its doors to ambitious companies trading for less than five years.
Previous rounds of the initiative have proven remarkably successful, generating 196 full-time equivalent jobs and boosting regional business turnover by an impressive £33.7 million.
Highland entrepreneurs can now apply for substantial grants ranging from £10,000 upwards, with HIE offering to cover between 20 and 50 percent of eligible project costs.
Rachel Hunter, HIE’s director of enterprise and community support, emphasised the transformative potential of the funding:
“We’re seeking projects that drive genuine growth, whether through new market entry, increased sales, or quality job creation.”
The scheme’s impact is already evident across the Highlands, with North Uist Distillery securing £93,000 for whisky production equipment, positioning itself as a future producer of world-class single malt.
Shetland’s growing aquaculture sector received a boost when Whiteness-based Shetland Oysters secured £11,690 for crucial harvesting and processing equipment, leading to immediate job creation.
In Argyll, speciality coffee entrepreneur Eve Macfarlane expanded her Tighnabruaich-based roasting enterprise with a £10,751 grant, enabling new equipment purchases and workforce expansion.
North Coast Watersports, run by two champion surfers in Caithness, exemplifies the scheme’s diversity, receiving 50 percent funding towards a £67,000 investment in safety equipment and vessels.
Lossiemouth’s agricultural innovation received significant support, with machinery manufacturer Agropack securing £47,209 to enhance their workshop capabilities and global competitiveness.
Applications remain open until December 31st 2025, with HIE actively encouraging enterprises from across their defined growth sectors to submit expressions of interest through their website.
Successful applicants can direct funding towards various growth initiatives, including premises development, technological advancement, and essential capital equipment.
Businesses and social enterprises more than five years old that are interested in finding out how HIE can support their capital investment plans, should contact enquiries@hient.co.uk
