Roseanna Cunningham MSP has highlighted a new £500m package of financial support for investment that local businesses can access. The Scottish Growth Scheme was announced as part of the plans to increase economic growth set out by the First Minister in the Programme for Government. Ms Cunningham has urged local business people to examine whether they might be eligible for support through the scheme.
Ms Cunningham said:
“The private sector is facing massively increased uncertainty as a result of Brexit and this three-year Scottish Growth Scheme will see the Scottish Government unlock investment which might otherwise be difficult to access in that climate.
“Individual investment guarantees, and some loans, of up to £5 million will be available to small and medium sized firms who would potentially be unable to grow because of a lack of investment finance.
“The scheme will be open to new and early-stage high growth potential companies, with clear export growth plans, particularly in technology-intensive sectors and businesses in emerging markets, such as financial technology. As financial guarantees, the support will not come from existing spending plans, and will instead see the Scottish Government share some of the risk faced by small companies, when they make big investment decisions.
“I know that there are many entrepreneurs and people with innovative ideas within the local business community. I hope that this assistance will be useful in supporting growth within the Perthshire economy and I would urge anyone looking for support to develop their business to examine whether they might be eligible for this scheme.”