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Support for Aberdeenshire Business

Introduction

In an effort to expand the local economy Aberdeenshire Council has produced an Economic Development Strategy where the Council outlines how it will target support to certain industries and activities. To achieve this the Council offers assistance through its scheme – Support for Aberdeenshire Business (SAB).

SAB aims to strengthen Aberdeenshire’s economy by encouraging the expansion of local businesses.

The scheme places importance on businesses selling outwith the area or attracting money into Aberdeenshire. The ultimate goal is to secure and expand the employment base and the economy of Aberdeenshire.

SAB offers practical business advice and discretionary financial assistance, in the form of loans and grants, to both new and existing businesses throughout Aberdeenshire.

Criteria

Businesses must demonstrate that they are meeting certain criteria before a project will be considered for SAB funding.

  • The proposal will have to bring additional economic benefit to Aberdeenshire
  • The proposal must demonstrate viability
  • The proposal must have the potential to increase employment in the Aberdeenshire area
  • The proposal must prove there is a need for top-up finance over and above what is available on the open market or within the business
  • The proposal must not have a detrimental effect on existing Aberdeenshire businesses.

Rural shops that are vital to their local community may also be able to access SAB support.


Applying for SAB assistance

Businesses can apply for SAB assistance through any of the local offices of Aberdeenshire Council, Economic Development, that are listed below.

Businesses applying for assistance will be asked to complete an application form demonstrating compliance with the above criteria.

Guide to SAB Grants

The grant schemes on offer are as follows:

1. Development Grants

Up to a maximum of £10,000 or 50% of the costs of the following, whichever is the lower:

  • Non statutory training
  • Research and development
  • Market development
  • Implementation of a recognised quality system
  • Feasibility studies for business co-operatives, community trusts and social enterprises
  • Establishment of business co-operatives, community trusts and social enterprises
  • Exhibition grant for first time exhibiting at a particular exhibition/trade show outwith North East Scotland, for costs of renting, setting up and running a stand.

2. Rental Grants

Up to six months rental or £50,000 whichever is the lower, for the rental of industrial premises where at least five new jobs are being created at any one time.

3. Job Creation Grants

Grants of up to £1,000 per job are available where at least five permanent jobs are being created at any one time.

4. Sustainable Business Grants

Grants of up to £5,000 or 50% of the costs of the project, whichever is the lesser, are available to encourage businesses to install environmentally sustainable processes. In addition the grant is available to encourage good practice in areas such as using renewable energy, waste management, efficient use of resources, recycling and establishing sustainable working practices.

The grant is also available for the installation of equipment.

5. Rural Shop Support Scheme

Grant assistance up to £7,500 may be available to help the development and diversification of rural retail outlets, which provide small communities with general store and/or Post Office facilities. In addition retail consultancy may be available. A separate leaflet is available on the Rural Shop Support Scheme.

Guide to SAB Loans

Loans may also be available through SAB towards the purchase of plant and equipment and for working capital in line with the activities described previously. Loan repayment holidays may be available for a period of up to six months.

Aberdeenshire Council will not fund more than one third of any project with loan finance.

  1. Interest-free loans up to £15,000 for the purchase of new or used plant or equipment, repayable over a period of up to five years.
  2. Low-interest loans of up to £25,000 for working capital, bearing interest at half Public Works Loan Board (PWLB) rate, repayable over a period of up to five years. (PWLB rate approximates to bank base rates).
  3. Loans at PWLB rate plus an interest margin may be available to businesses that do not meet all the Criteria.


Note:

  • Company directors are required to give repayment guarantees for loans
  • Heritable security will be required for loans over £25,000
  • Loan arrangement fees will be charged out by the Law and Administration service of Aberdeenshire Council
  • No Officer of the Council can promise assistance as every case is discretionary
  • The Council may be restricted by European State Aid Rules when offering assistance
  • After being awarded assistance a business cannot apply to the SAB scheme for a further six months
  • Minimum grant of £500. No retrospective applications will be accepted.

Download Leaflet

Contacts

Further information on SAB is available from the following Economic Development officers:

Banff and Buchan Area, and Buchan Area

Formartine Area, and Garioch Area

Marr Area, and Kincardine & Mearns Area

Woodhill House