Key ways new initiatives aim to attract diverse new generation of entrepreneurs

Nearly £3 million is being invested in initiatives to provide an easier path for women and people from all backgrounds to start a business.

They include a pilot programme, launching initially in the south of Scotland, which will fund specialist enterprise coaches to provide tailored support to help aspiring entrepreneurs, particularly females and other under-represented groups, to kick-start their business ideas, with grants of up to £1,000 also set to be available.

The pilot will be delivered by South of Scotland Enterprise (SOSE) and run alongside a new Scottish Government-administered Pathways Fund to support entrepreneurial activity across Scotland, building on last year’s Pathways Pre-Start Fund, and also seeking to particularly help women and other under-represented groups.

Pathways report author Ana Stewart welcomes the latest moves to help would-be founders take their first steps into entrepreneurship. Picture: Greg Macvean.

The two projects are to receive funding of up to £2.6m altogether this financial year, and form part of the Scottish Government’s ongoing commitment to delivering the recommendations of the Pathways report on the under-representation of women in entrepreneurship.

Scotland’s Deputy First Minister Kate Forbes, who commissioned the report in 2022 while Cabinet Secretary For Finance and the Economy, said: “Scotland has all the ingredients to be one of Europe’s fastest-growing start-up economies: an economy that is strong, successful and dynamic. Entrepreneurship is at the heart of a healthy, vibrant and growing economy. This expanded package of support for entrepreneurs at the start of their journey continues our drive to ensure everyone, from every walk of life, is given the right support and encouragement to make their business idea a reality.”

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Entrepreneur and investor Ana Stewart, who spearheaded the Pathways report, said: “If Scotland is really serious about building a richer, deeper, and healthier entrepreneurial economy, we must widen the funnel beyond existing routes to encourage more people to set up and scale their businesses, as opposed to sticking with existing structures and systems; systems we know are not currently reaching a large majority of the population.

“Whilst there is still much more to do to achieve equal access to entrepreneurship, it's encouraging to see the launch of the SOSE pre-start pilot in tandem with the creation of the light-touch, micro-grant funding, giving would-be founders the best chance of successfully navigating their very first steps into entrepreneurship.”

SOSE chief executive Jane Morrison-Ross welcomed her organisation’s role delivering the Pathways Pre-Start pilot across the south of Scotland. “It is a region of entrepreneurs, and the Pathways pilot will be key to delivering our vision for a wellbeing and inclusive economy, and accelerating the fantastic entrepreneurial pathway work our Innovation and Entrepreneurship team are already doing. This work can now be supercharged and will be critical for economic growth, as we will be able to tap into the potential the south of Scotland has to become a rural economic powerhouse.

“During the pilot, our new enterprise coaches will focus on pre-start up stage, and support individuals to realise their entrepreneurial potential and guide them to the next stages of business, whilst helping with the development of an entrepreneurial mindset. We would urge all budding entrepreneurs who want to be part of the programme to watch this space.”