£200 MILLION INVESTMENT BOOST FOR SMEs WITH BIG AMBITIONS

Small and medium-sized enterprises in Falkirk district with big ambitions could benefit from a new package of support for business growth.

The £200million Scottish-European Growth Co-investment Programme is the first part of the Scottish Growth Scheme, a £500million financial package backed by the Scottish Government to help businesses thrive.

With advice and support from the Scottish Investment Bank, SMEs will be able to seek significant investment from European Investment Fund (EIF) accredited fund managers, Scottish Enterprise and the EIF. The programme is specifically designed for companies with international ambitions who are looking to raise £2million or more in equity finance to grow their business.

Falkirk West MSP Michael Matheson said: “By opening up a new pool of potential investors from Europe, this programme will allow SMEs to expand and create more job opportunities.

“While the UK Government is causing economic uncertainty with its reckless approach to Brexit and insistence on withdrawing from the single market, the Scottish Government is working hard to stimulate growth and strengthen Scotland’s business links with Europe.”

Scottish Investment Bank director Kerry Sharp added: “This announcement is great news for Scottish companies with ambition for scale. This new programme will allow us to engage with even more international investors and attract larger amounts of investment into Scottish companies.”