Mon 16 Feb 15
The Scottish Government has set out its plans to establish a Scottish Business Development bank. In the initial period. they propose to work with partners to research the nature of the challenges that businesses, banks and investors have faced in accessing and providing finance. They aim to understand better the nature of the challenges and scale of market need so they can find the best way to help. They will also look at whether the need is stronger connections between businesses needing finance and people willing to offer it or, if an actual finance provider is needed, how that might best be positioned and structured.
On 26th November the First Minister told Parliament: "We will establish a Scottish Business Development Bank. The Bank will work directly with small and medium enterprises, and the financial markets, to support the high-growth businesses that Scotland needs".
The case for a Business Development Bank derives from evidence that some viable SMEs struggle to access the debt and equity finance they need, constraining growth. Estimates suggest an investable gap of several hundred million pounds p.a. The aim would be to help address the needs of those 100,000+ SMEs who employ staff.
They would very much welcome working with you and attached is a short questionnaire they have prepared to help uncover some of this market information.
It is encouraged that businesses and any associated companies to complete it by 20th February, so they can to ensure the policy meets your needs?