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Tuesday, 1 November 2016

£60m European Funding Boost for Scottish SMEs

More than 20,000 businesses will benefit from a £60 million investment, with EU money being used to grow Scotland’s small and medium-sized enterprises (SMEs).

The European Regional Development Fund support will bolster the business growth pipeline, allowing companies to access the help they need to expand. With SMEs accounting for 95% of businesses in Scotland, this funding will target growth through innovation and investment.

Cabinet Secretary for Economy, Jobs and Fair Work Keith Brown will confirm the funding on a visit to manufacturing firm Andrew Wright Glass in Irvine. He said:

“This is a fantastic opportunity to support our SMEs – the engine of the Scottish economy. The investment will benefit more than 20,000 enterprises, with the aim of identifying and developing our next 1,000 growth businesses. Business Gateway support alone is forecast to create 11,000 jobs.

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