Funding

Funding Services

AdvantageLab Research

Phase: Discovery/Alpha/Beta

Audience

Focus

What we discovered

Learning
💡 Pain Points The issues below hold back our customers from having the customer experience we want to provide.
Complexity gets in the way
We burden business with cost and risk
Location, relationship and size matter
Companies fall through the cracks
The expertise lottery
Disproportionate, inconsistent and complex processes

🎧 Quotes

Pain Point Quote
Complexity gets in the way  
THERE ARE TOO MANY PRODUCTS AVAILABLE ‘The landscape is somewhat cluttered with SE promoting eight large grant programmes and there is varying levels of understanding amongst partners and intermediaries (and even within SE) as to the type of projects and activity the grants can support. ’
THERE ARE TOO MANY PRODUCTS TO ADVISE ON ‘Impossible to understand what the grant can be used for.’
THERE ARE TOO MANY FORMS ‘Form-filling for grant funding is too complex.’
We burden business with cost and risk  
IT TAKES US TOO LONG TO MAKE A DECISION ‘Application process is slow, complicated and created added pressure on us. Not being able to start the project before the application has been approved.’
WE PUT ALL THE RISK ON CUSTOMERS ‘It is hugely financially debilitating when you have to wait until you have spent the amount in cash of the fund borrowed before you can get it back.’
WE ASK FOR THE SAME INFORMATION AGAIN AND AGAIN ‘You keep asking me for the same data. It is annoying and also erodes my trust in you.’
Location, relationship and size matter  
LOCATION MATTERS WHEN GETTING FUNDING ‘[There is an] inconsistent offer of support across different geographies of Scotland.’
SIZE MATTERS WHEN GETTING FUNDING ‘SE is only interested in big companies.’
RELATIONSHIPS MATTER WHEN GETTING FUNDING ‘It’s jobs for the boys.’
Companies fall through the cracks  
WE DON’T SPEAK TO OUR POTENTIAL CUSTOMERS ‘I’m so wrapped up in working that I don’t know where to go for advice.’
WE STOP TALKING TO YOU YOU WHEN YOU LEAVE US ‘Businesses don’t stop needing help.’
WE NEVER ASK YOU IF WE’RE HELPING ‘The approach and processes don’t always align with a fast-moving business.’
The expertise lottery  
EXPERTISE IS SPREAD TOO THIN ‘What we value … is that human aspect, the interaction… you get the most out of a meeting … rather than emails and form filling’ 
EXPERTISE IS TOO INCONSISTENT ‘I need to know that [I’m dealing with] someone who really understands the business and works in our best interests.’ 
EXPERTISE IS TOO BEHIND THE CURVE ‘Advisers need to be at the cutting edge – offering high quality output.’
Disproportionate, inconsistent and complex processes  
LACK OF FLEXIBILITY ON WHAT CAN BE CLAIMED The flexibility of the process to deal with “variance”, for example, one case study had challenges with drawing down funding as the make/model of the capital equipment they purchased had changed from the initial application.
DISPROPORTIONATE EVIDENCE BURDEN ‘I have to scan payslips, save names and PDF numbers - for each person, invoices and bank statements.’
IT TAKES TOO LONG TO MAKE A PAYMENT ‘The payment process is unreliable, slow and tedious, where you are treated like a criminal rather than a valued partner.’