Scottish Growth Scheme (SGS) Launches To Support “Investing in Ambition”
The £500 million Scottish Growth Scheme, a Scottish Government initiative, provides a range of commercially focussed finance to help viable small and medium-sized enterprises (SMEs) in Scotland to start-up, grow and scale up.
A number of new funding options (microfinance, debt and equity) are now available under the Scheme for Scottish SMEs.
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, the Scottish Government wants 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.
It has therefore Introduced the £500m Scottish Growth Scheme, addressing market failure, targeting SMEs with growth and export potential.
In particular, those companies that are technology intensive and at the pre-revenue stage that would not normally obtain finance through conventional means.
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 of 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, click here.
Published: 27 February 2019