Good news for small businesses in Scotland this week, with the announcement that Barclays is doubling the amount it sets aside for SME funding. Economy minister Keith Brown welcomed the announcement, “This is positive news and will be a real boost for Scotland’s SMEs, which are the lifeblood of our economy.”
Jamie Grant, head of business and corporate banking for Barclays Scotland, said: “We believe we are equipped to help even more businesses realise their ambitions.
“We have a strong history of building relationships with many of the country’s leading companies while our global reach means we have the knowledge and expertise to help Scotland’s businesses compete on a world stage.”
Funding ‘absolutely critical’
The news arrives as part of Barclays’ plans to extend its presence in Scotland, and will be a boon to the region following the news that exports from the small business sector had fallen.
Scottish Enterprise chief executive Lena Wilson said: “This investment by Barclays is fantastic news for SMEs across Scotland.Access to funding is absolutely critical to enabling SMEs to thrive at home and around the world, supporting them to invest in innovation, workforce development and international activity. We will continue to work closely with Barclays and our partners to support company growth.”