- My enterprise will be trading across the whole of the UK. Is this eligible?
There are no geographical restrictions on trading. However, as the Social Entrepreneurs Fund and LaunchMe are funded by the Scottish Government, the majority of the social impact must be delivered in Scotland. This means that the majority of people who will benefit from the good work of the enterprise must live in Scotland.
- I’ve already set up as a sole trader/private company limited by shares. Am I ineligible for funding?
Firstport funds individuals as opposed to organisations, so you can still apply whether or not you have set up a legal entity for your project, and regardless of the type of entity you have chosen. However, at assessment, we will want to know why you have chosen to go down a particular route, and whether you are committed to sticking with it.
We always encourage applicants to base their choice of legal structure on what is best for the business, as opposed to being influenced by eligibility criteria for any particular funding stream – via Firstport or any other source. Please contact us if you would like further advice on this subject.