Bog standard 2 Posted May 12, 2012 Report Share Posted May 12, 2012 Any ideas please!!??Needing help financing an already profitable enterprise .Banks are so tight these days, I'm looking for an alternative please?!Thanks very much. Any help appreciated. Quote Link to comment Share on other sites More sharing options...
crofter Posted May 12, 2012 Report Share Posted May 12, 2012 Try the charitable trust. They have millions to invest in sure fire profitable ventures. Quote Link to comment Share on other sites More sharing options...
Ghostrider Posted May 12, 2012 Report Share Posted May 12, 2012 Try the Charitable Trust, they seem to be up for investing vast amounts in just about anything. The man for the SCT, he always say "yes". The sooner they get it all thrown away, the sooner the endless bickering between those who have been suckered in with their PR spin and bull, and everyone else will end, so salt them for plenty. Quote Link to comment Share on other sites More sharing options...
oddtablet Posted May 12, 2012 Report Share Posted May 12, 2012 The Lord Lieutenant may be able to offer assistance. maybe not via ii / Millgaet Media Shetland Enterprise may be a better option. If not, bag packing is a good way of raising cash since there are no overheads. Good luck Quote Link to comment Share on other sites More sharing options...
klanky Posted May 12, 2012 Report Share Posted May 12, 2012 Great. Someone posts a reasonable question and is immediately pulled down by Shetlink online expert knobheads. How unusual.......... Quote Link to comment Share on other sites More sharing options...
crofter Posted May 12, 2012 Report Share Posted May 12, 2012 My suggestion was serious, and might be helpful - worth an ask... Address:Shetland Charitable Trust22-24 North RoadLerwickZE1 0NQ Telephone: 01595 744 994 Fax: 01595 744 999 Email: mail@shetlandcharitabletrust.co.uk Quote Link to comment Share on other sites More sharing options...
unlinkedstudent Posted May 12, 2012 Report Share Posted May 12, 2012 Great. Someone posts a reasonable question and is immediately pulled down by Shetlink online expert knobheads. How unusual.......... Crumbs, and I hadn't said/typed a word ... ... in order to get a loan/grant/whatever from the Shetland Charitable Trust/SIC Business Economic Development Unit or whatever blooming title the blooming thing goes under, you must have been resident here for at least a year. They can put you in touch with a business advisor who'll give you a list of questions and also help with a business plan. Yep, then they'll take a few weeks deciding whether or not you deserve the dosh; so say you want a new website - forget it if you already have one but, for example, if you've never advertised in the local paper before, they'll give you some money for that but AFTER you have already paid for it. Quote Link to comment Share on other sites More sharing options...
crofter Posted May 13, 2012 Report Share Posted May 13, 2012 [to get a loan/grant/whatever from the Shetland Charitable Trust/SIC Business Economic Development Unit or whatever blooming title the blooming thing goes under, you must have been resident here for at least a year. Wasn't aware of that, but fair enough; if Bog Standard 2 is already running a successful business, it's possible they have been here for a while? Anyway, by the time the application is processed and approved that time will always be running near... Quote Link to comment Share on other sites More sharing options...
Ghostrider Posted May 13, 2012 Report Share Posted May 13, 2012 Great. Someone posts a reasonable question and is immediately pulled down by Shetlink online expert knobheads. How unusual.......... Serious, or not, it may have been. Containing enough detail of information to be able to give serious and helpful reply, it didn't. There are plenty of folk and organisations interested in investment opportunities, but without ballpark info on field of business, size of investment etc, etc. Pretty much any suggestion other than Banks, SIC/SCT etc, is going to be about as much help as telling them to call names picked at random from the phone book. Quote Link to comment Share on other sites More sharing options...
Bog standard 2 Posted May 13, 2012 Author Report Share Posted May 13, 2012 Thank you for the suggestions. In reply to ghostriders queries...Yes I have been a resident for over a year. I know specs are important but don't want to air all the details on here. I am looking at buying a retail type business that is profitable and has been for sometime. I have experience as in decades of it in the focus of operation of said business. I'm looking for 20 - 25k in total. I would of course pay an attractive interest package on the loan as may be requiredI have limited time to move on it and SCT will take considerably more time than I have as I must position myself for our spring/summer months in order to maximise potential. It's a wonderful opportunity and really can't let it slip through my fingersThanks again, hope that's a good amount of specs to work with. Quote Link to comment Share on other sites More sharing options...
owre-weel Posted May 13, 2012 Report Share Posted May 13, 2012 Any ideas please!!??Needing help financing an already profitable enterprise .Banks are so tight these days, I'm looking for an alternative please?!Thanks very much. Any help appreciated. Hi Bog standard 2 I may be wrong but I don't think the SCT give out loans to small business, but it's always worth a call as they may be able to direct you to others. As for business gateway, development or whatever there called, I hope you get a better response than I did. Following a year on job seekers and little hope due to age, I decided to set up in a small home business myself. Didn't need much, but was struggling to get the equipment needed. I approached gateway and was told there was nothing they could do as they can't be seen to support a business when there are other similar businesses out there. No start up grant to get me off the dole no offer off help with training or advertising etc. absolutely nothing, which I thought was pathetic considering the grants the council dish out to already established businesses, with directors driving around in the latest vehicles. How many fish farms have the council supported despite the similarity etc. As far as I was concerned they showed no interest, despite business plans etc. a small grant or low cost loan would have been supportive to get me back into gainfull employment. I think they have got their priorities completely wrong, is it best use of our resources to hand out grants for a business to advertise its wears when it's been around for 20+ Years, or help a new business start? Never mind, despite their lack of support, I have struggled, but managed to establish a busy, sucessful small home business. So if similar businesses already exist in Shetland, then I wouldnt hold out any hope of any support from business development. They seem to have lost all direction. Try asking for a million and they will probably bite your hand off, but ask for a little support and they are not interested. Don't rule out the banks as they may be more supportive then you think. Quote Link to comment Share on other sites More sharing options...
MJ Posted May 13, 2012 Report Share Posted May 13, 2012 Well then I wouuld suggest speaking to Scottish Enterprise/HIE or what ever they're called now, down at the Northness Business Park. If it hadn't been for the "Decades" mention Princes Trust might have been a suggestion but you need to be under 30 (but I've put it in for others who read this who it might be applicable for) HIE website http://www.hie.co.uk/highlands-and-islands/area-information/shetland/ If you hover over the names it's give you the details of the folk that work there Quote Link to comment Share on other sites More sharing options...
owre-weel Posted May 13, 2012 Report Share Posted May 13, 2012 Well then I wouuld suggest speaking to Scottish Enterprise/HIE or what ever they're called now, down at the Northness Business Park. If it hadn't been for the "Decades" mention Princes Trust might have been a suggestion but you need to be under 30 (but I've put it in for others who read this who it might be applicable for) HIE website http://www.hie.co.uk/highlands-and-islands/area-information/shetland/ If you hover over the names it's give you the details of the folk that work there It was the offices at Northness that I was advised to go to, and age problem is on the upper side not lower, but well under retirement age. You are right that there seems to be some assistance for various age groups etc, but then there are hugh gaps for others. Quote Link to comment Share on other sites More sharing options...
unlinkedstudent Posted May 13, 2012 Report Share Posted May 13, 2012 Thank you for the suggestions. In reply to ghostriders queries...Yes I have been a resident for over a year. I know specs are important but don't want to air all the details on here. I am looking at buying a retail type business that is profitable and has been for sometime. I have experience as in decades of it in the focus of operation of said business. I'm looking for 20 - 25k in total. ... Oops, I hope you pay more attention to small print - twas I that mentioned resident for a year, not Ghostie! Honestly, I know He sometimes logs on as moi but it really was me that time! Anyway, back on track ... ... are you saying that you've an existing business already established in Shetland and you are looking at expanding by purchasing another business? If the answer is no, then I doubt that the SIC Business Unit Wotsits would assist. Re £20-25k - if that is the purchase price then again, you wouldn't get it. You can get loans to purchase equipment but not an outright business. Me thinks your time may be better spent looking at the likes of Ruth the Badger of Apprentice fame and seeking advice from her via her website. Yes, banks are tight, especially if you're a sole trader so you're probably better off seeking out venture capitalists and get dosh off them in exchange for a percentage share of the business. And OW, I'm in full agreement with you; I could have done with help as due to the recession, I really needed to advertise more and had cashflow problems. The SIC Business Unit Thingy don't seem to realise that relatively new businesses do need a helping hand and whilst still making a profit/a living, we can't all afford to splash out thousands on a flash website, fancier equipment, etc. Having to pay upfront for goods/services doesn't help before they decide to give you any loan - if we could afford to pay for it upfront then we wouldn't be going to them necessarily for help! And yes, Business Gateway are a shambles. Yes, I appreciate there is a fine line when the SIC BU make their calls as to which businesses get help and many a time they appear to have screwed up but their focus does need some redirection IMHO. Quote Link to comment Share on other sites More sharing options...
MuckleJoannie Posted May 13, 2012 Report Share Posted May 13, 2012 What appears to be the latest SIC advice on their support to business is here http://www.shetland.gov.uk/business-jobs/documents/EconomicDevelopmentPolicyStatement2007-2011.pdf Unless you fit into one of the headings on pages 8 to 20 you are very unlikely to get any financial assistance. And as has been said above the process moves very slowly. Since the Shetland Development Trust was set up the Charitable Trust has not invested in small local firms. Quote Link to comment Share on other sites More sharing options...
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