SCC comment on UK Government support for start-ups
Commenting on the UK Government unveiling financial support for start-ups affected by Covid-19, Dr Liz Cameron OBE, Chief Executive of the Scottish Chambers of Commerce, said:
“The entrepreneurial pedigree of Scotland and the UK’s start up community has helped build up a world-renowned international reputation for creativity and innovation.
“There were gaps in the current major support measures that meant that these newer companies were not able to access the existing Covid-19 business support schemes. This new package will enable these fast-growing and dynamic businesses to continue trading with more ease of mind, at the very forefront of our most cutting-edge sectors and technologies.
“The most important thing now for firms is ease and speed of access to this support. This funding must be made available as soon as possible, with as few administrative hurdles as possible, in order to safeguard against the potential of firms folding in the time it takes for this support to be accessible.’’
Notes to Editors:
- The £1.25 billion support package from the UK Government includes a new £500 million loan scheme for high-growth firms, called the Future Fund, and £750 million of targeted support for small and medium sized businesses focusing on research and development, please see further details here – Billion pound support package for innovative firms hit by coronavirus
