Joint report finds that Scotland starts businesses but fails to grow them
More ways of filling the investment gap between early-stage angel funding and large-scale funding are needed for emerging Scottish companies. This is one of the key findings in a new report by the Royal Society of Edinburgh (RSE), Scottish Financial Enterprise (SFE) and the Institute of Chartered Accountants of Scotland (ICAS).
The three institutions examined the challenges facing emerging companies in sourcing growth capital. Their report finds that the health and dynamism of the Scottish economy would be enhanced if more young businesses could be grown to a nationally and internationally significant scale.
Ian Ritchie, Vice President of the RSE and Chairman of the group which produced the report commented, “Scotland's long record of innovation and scientific research excellence and its natural assets provide an environment for the creation of new businesses of great potential. We need to find ways of enabling more of them to realise that potential more fully. Our report examines the core issues and outlines a number of approaches and initiatives for developing a more effective growth capital market in Scotland.”