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Why businesses are applying to the Digital Development Loan

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The Digital Development Loan is provided by the Scottish Government to enhance the digital capabilities of Scottish small and medium sized enterprises to keep businesses flowing with work, yet protected in a digital era. If you are a small to medium sized Scottish business, read on…

The Digital Development Loan was created by the Scottish Government to provide loans to companies who wish to improve their digital capabilities and processes. This includes;

  • Cyber security, such as becoming Cyber Essentials Plus accredited, testing your cyber resilience or improving your cyber protection.
  • Data analytics, making more informed decisions that drive higher return on investment to your business.
  • Software engineering, including selecting and developing software solutions that are cyber secure.
  • The loan also covers staff digital skills development as part of the Scottish Government’s drive to improve economic productivity.

You can read more about it and how to apply here https://digitaldevelopmentloan.org/

Criteria for the Digital Development Loan

Once aligned with the eligibility criteria, applications will be assessed on a variety of factors including:

  • If the project will increased capacity – for example, will it enable you to take on new and additional work? Often achieving Cyber Essential Plus status can do this by qualifying you for new tender submissions.
  • If the project will increase capability – for example, faster production, higher quality work, faster or improved business processes. Often addressing software solutions for efficiencies and or ISO 27001 accreditation can dramatically improve your business in a digital era.
  • Increased digital skills within the workforce – structured workshops and testing to be sure that your team are well educated on security processes, risk management and tactics used by criminals can protect your business from breach as well as data or financial theft. Such security and resilience are both good for recruitment and securing new work.

Overall, the loan is aimed at helping Scottish SMEs to improve processes and productivity through digital application. Hardware and software that increases the digital capacity and capability of the company can also be eligible. Systems upgrades, provided the resulting business development can be evidence, may be eligible too.

What’s not included also features on the Digital development Loan website.

Our Testing & Compliance Bundles may be an effective starting point for your business.

If you would like to discuss potential solutions to improve your digital performance and security or support making an application to the Digital Development Loan for your organisation contact us. Our team is award winning and a Trusted Partner of the Scottish Business resilience Centre, approved by Police Scotland.

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