In the fast-paced world of entrepreneurship, getting the right guidance and support can make or break a young business.

At Johnston Carmichael we’ve been a long-term supporter of emerging businesses. This year marks our 10-year anniversary of working with Scottish EDGE, the nation’s biggest business funding competition, since its inception in 2014.

As we approach that milestone for this important event, it has made me reflect on the real value of funding competitions like this, as well as how vital it is that up-and-coming new businesses receive the correct advice so they can progress to the next level.  

Firstly, Scottish EDGE is much more than a funding competition—it’s a vital platform that provides startups with both financial support and constructive feedback. Starting a business can often feel like a lonely endeavour, particularly for new entrepreneurs who have yet to establish a network of peers.

Winning the competition opens doors for a company and invites them into important networking groups to learn from peers and meet important contacts.

We really value our own role in the competition as mentors and advisers, as well as helping guide entrepreneurs through the ups and downs of building a business, offering grounded, practical advice. There’s been so many success stories that have come out of the competition over that period, and many have become longer term clients of ours.

I personally get a reward from knowing I’ve played even a small part in helping these businesses grow and succeed.

What sets Johnston Carmichael as a firm apart from our competitors is our approach to fully understanding the unique needs of each client, rather than a “one size fits all” approach.

We listen to the specific challenges and goals of each business – every entrepreneur has a different vision and offering, and their own set of hurdles to overcome.

By tailoring our advice and services, we ensure we offer more than just basic compliance or financial advice. Instead, we focus on building long-term relationships where the advice is customised, relevant, and proactive, helping clients avoid pitfalls that could affect them further down the line.

Our broad range of services - business advisory and tax planning to digital advisory and outsourced finance, to name but a few —gives entrepreneurs access to a wide range of tools that are all essential to business success.  

What begins with compliance work, like accounts preparation and payroll, can evolve into more strategic guidance on entrepreneurial taxes, corporate structuring, and even personal tax planning for directors.

Entrepreneurs are critical to the growth and evolution of our economy and supporting them requires more than just financial advice.

Our own approach is centred around listening to the client’s needs, providing tailored advice and ensuring the business is primed for future growth.

Through partnerships like Scottish EDGE we continue to champion the next generation of innovators, and we are excited to welcome the next cohort of entrepreneurs, playing a small but important role in growing Scotland’s business ecosystem.  We look forward to the competition continuing to go from strength to strength in the months and years ahead.