Scottish Growth Scheme

Thu 24 Jan 19

Seeking opportunities to grow innovative businesses of scale with exporting potential and global ambitions, to unlock investment for viable companies, delivering ‎ benefits to businesses and the wider economy.

Scottish Government want to see Scotland foster a much broader range of young growth-oriented SMEs, with companies readily accessing the investment they need to fund grow and achieve their exporting and other ambitions.

Introduced the £500m Scottish Growth Scheme, addressing market failure, targeting SMEs with growth and export potential. In particular those that are technology intensive and at the pre-revenue stage that would not normally obtain finance through conventional means.

On scale, under the Scottish Growth Scheme,  some £106 million in equity funding has already been invested in a range of 82 innovative, technology based companies over the period October 2016 - 2017.

Scottish Growth Scheme is now providing  a range of financial funding for SMEs including:

  • microfinance (up to £25k);
  • debt (£25-100k, and £250k -£2m);  
  • equity  (up to £2m, and £2m-£10m). 

 

These funding options can help in a number of ways, for example by:

  • Providing funding to get your business started
  • Funding innovation and expansion projects
  • Purchasing new machinery or equipment
  • Leasing new commercial premises
  • Expanding into overseas markets.

 

Within some of the funding options, there is more than one fund manager thus giving SMEs greater choice.  If you wish to explore the financing available, you should contact the relevant appointed Fund Manager direct. 

Bear in mind that finance is not automatic: be prepared to justify your  business case and provide the necessary evidence that your plans are achievable and likely to grow your  business.

Find out more at: https://www.mygov.scot/scottish-growth-scheme/ 

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