Access to finance
While most Small and Medium Enterprises (SMEs) have access to the finance they need, there are still some businesses in Scotland that are unable to access finance, or are not trying to. Since the global financial crisis of 2008, most SMEs have been using external finance less and focusing on remaining debt-free.
We want to make it easier for SMEs to access finance so that they can use it to support jobs and achieve growth. We are doing this through:
- the Scottish Growth Scheme
- direct equity funding and support from Scottish Enterprise's Scottish Investment Bank
- promoting financial best practice between businesses by encouraging SMEs to sign up to the Prompt Payment Code
- providing information on all funding available to Scottish businesses on mygov.scot
Scottish Growth Scheme
In September 2016 the First Minister announced a three-year scheme offering £500 million of financial support to help businesses grow. Read the news story: £500m new support for businesses.
The Scottish Growth Scheme will offer investment guarantees and loans to new and early-stage companies with high-growth potential, particularly those in technology-intensive sectors and emerging markets such as financial technology.
Scottish-European Growth Co-investment Programme
The Scottish-European Growth Co-investment Programme is the first part of the Scottish Growth Scheme and is being delivered through the Scottish Investment Bank, in partnership with the European Investment Fund.
Supported by £50 million from Scottish Enterprise and £50 million from the European Investment Fund (EIF), the Programme will help Scottish companies looking to raise more than £2 million in equity finance (by selling shares in their business) to secure investment from EIF-accredited fund managers all over Europe.