Small and Medium-sized enterprises (SMEs) are essential to the Scottish economy, and to delivering the Scottish Government's ambition, as set out in Scotland’s Economic Strategy, to achieve a more productive, cohesive and fairer Scotland.
To grow, become more innovative and productive, create jobs, and seek opportunities in new markets, SMEs often require access to appropriate and affordable finance.
This report analyses the market for business finance in Scotland, drawing on the extensive evidence base, and engagement with key stakeholders from across the financial sector, wider business sector, and public sector partners.
It finds that whilst Scotland benefits from extensive business banking services and a vibrant angel investment community – and many SMEs are able to access the funds they require – there is evidence of viable Scottish SMEs across all sectors facing challenges raising the funding they need. There is also evidence that others are discouraged from applying for the finance they need as they do not believe they will be successful.