Firstport launches new tool to help entrepreneurs navigate towards impact

Impact Compass helps early-stage entrepreneurs in Scotland take their first steps in deciding how to embed impact into their businesses.

We are excited to launch Impact Compass, a new tool we have developed to help entrepreneurs in Scotland navigate towards impact.

Impact Compass is an interactive quiz designed with a Scottish context in mind. The quiz guides entrepreneurs towards the most suitable business type based on their answers to questions about purpose, accountability, ownership, and profit distribution. Whether a co-operative, charity, social enterprise, or purpose-led business, the results offer a collection of carefully curated resources to help them navigate the Scottish start-up support ecosystem.

Image displays the Impact Compass homepage.
Impact Compass homepage

Why an Impact Compass?

We developed Impact Compass after speaking to purpose-led entrepreneurs navigating the legal, practical and financial challenges of setting up their businesses.

We found that many entrepreneurs and founders want to start businesses that are not only profitable but also purposeful. However, understanding and choosing the setup that matches their ambitions and impact aspirations can feel overwhelming. Even when entrepreneurs know the type of business they want to start, navigating the support ecosystem can be confusing.

Impact Compass removes that friction and helps entrepreneurs understand and decide the type of business they want to set up and where to go for support, funding, and connections.

Our Head of Business Development and Innovation, Megan Veronesi, shares more about the background of Impact Compass in her latest blog post. You can read it here.

She told us:

Our ultimate goals is to help stimulate and support more purpose-led start-ups of all types and structures and to make the journey of accessing support and investment easier, no matter how you identify your business.

Megan Veronesi, Firstport

Can Impact Compass help you?

We want entrepreneurs across Scotland to benefit from the insights and resources of Impact Compass, so if you are an early-stage entrepreneur who doesn’t know their CICs from their Co-ops, why not take the quiz? It only takes five minutes to complete. By the end, you will be more confident about the type of business you are starting and will access lots of valuable resources to help you move your business forward.

Let us know how you get on!