News: Digital Development Funding

Posted on 20 June 2018

The Scottish Government recently launched the Digital Development Loan to provide Scottish SMEs access to finance to improve their digital capabilities.

Companies can apply for £5,000-£50,000 to improve areas such as cyber security, data analytics and software engineering, as well as to develop staff skills in digital.

The loan in interest free, allowing the initial cost of investment to be spread over up to 5 years.

If you’d like to find out more about the Digital Development Loan visit:
http://digitaldevelopmentloan.org/

What could you use it for?

  • Virtual Tours, perhaps accompanied by a Digital Assistant
  • Drone Filming
  • Integration of Digital Processes e.g. e-commerce
  • Internationalisation – Translating Websites
  • App Development
  • E-commerce Systems, Booking Systems and CRM Systems
  • Cyber security
  • Data analytics
  • Software engineering

The loan also covers digital skills development (e.g Digital Training and Social Media skills) for your staff.

Eligibility Criteria:

• Applicant businesses must be located in Scotland
• Must be trading a minimum of 6 months
• The purpose of the loan must be to improve digital capacity and or capability of the business
• Applicants must be over the age of 18
• Applicants must be a UK resident with the right to work in the UK
• Business sector must be eligible
• Businesses must meet the European* definition of an SME in relation to employees, balance sheet and turnover.

*European Definition The category of micro, small and medium-sized enterprises (SMEs) is made up of enterprises which employ fewer than 250 persons and which have an annual turnover not exceeding 50 million euro, and/or an annual balance sheet total not exceeding 43 million euro