 |
answer text |
<p>Support for businesses in Scotland is largely a devolved matter, and <a href="https://www.mygov.scot/business"
target="_blank">https://www.mygov.scot/business</a> provides advice to people starting,
running and growing a business, including a section on funding and grants in Scotland.
In addition, British Business Bank (BBB) programmes are supporting finance to smaller
businesses. Since November 2014, BBB programmes have facilitated around £2.2m* to
71 businesses in the constituency of Glasgow East. This includes 49 start-up loans
totalling over £250,000.</p><p>Alongside designing and delivering programmes through
its partners, the British Business Bank works to promote the provision of better information
in the market to increase smaller businesses’ understanding of the finance options
available to them. The Business Finance Guide (<a href="http://www.thebusinessfinanceguide.co.uk/bbb"
target="_blank">http://www.thebusinessfinanceguide.co.uk/bbb</a> ) sets out the different
sources of finance available to businesses – from start-ups to SMEs and growing mid-sized
companies.</p><p>In order to support innovation by small businesses, Innovate UK awarded
99 projects to SMEs in Scotland with a commitment of £16.7 million in 2016/17.</p><p>Small
businesses in Scotland also benefit from UK-wide initiatives to encourage investment,
for example the Enterprise Investment Scheme and the Seed Enterprise Investment Scheme.
If they have business premises, small businesses will also benefit from the Small
Business Bonus Scheme and receive 100% relief on their rates bill for property valued
below £10,000.</p><p> </p><p> </p><p><em>*This does not include ENABLE funding data
as this is not available at a constituency level.</em></p>
|
|
