Trading income is given a boost

A social investor has extended its terms to enable more enterprises grow their trading activity.

Firstport announced that it has expanded eligibility for Step Up, its 0% interest loan programme for Scottish social enterprises, to include established organisations looking to grow their trading activity.  

With significant cuts to public and third-sector budgets, many charitable and community organisations are rapidly adapting by developing sustainable income streams through trading.

As Scotland’s agency for startup social entrepreneurs, Firstport is supporting this shift toward enterprise.  

The Step Up programme, part of the Scottish Government’s Social Entrepreneurs Fund, offers 0% interest loans of £5,000 to £30,000 to help Scottish social enterprises scale or repeat successful trade-generating activities.

Previously, only startups under six years old could apply.

However, from now on, eligibility has expanded to include social enterprises of any age; and new enterprises and those starting to trade – offering loans up to £30,000.  

Daisy Ford-Downes, head of group investment programmes at Firstport, said: "We know organisations across the country are as dedicated as ever to serving their communities, despite a challenging funding environment.

“Some now have the opportunity to develop income-generating activities through trading, and Firstport is here to help them do just that. We’re keen to support not only early-stage organisations but also those just beginning their enterprise journey.  

“Many have struggled to grow their trading activities due to upfront development costs. We see Step Up as a crucial tool, helping organisations establish trade as a sustainable, independent income source.”  

To be eligible, applicants must demonstrate a proven trading strategy that has increased revenue—for example, a high-demand product or a successful marketing campaign that attracted customers.