A service to support more companies in Scotland with the potential to reach turnover of more than £100 million has been launched by Scottish Enterprise.
The Start2Scale service will target fast growing and early-stage companies as well as existing firms with plans to scale up.
“It will provide an intensive, tailored service focussing on the key drivers of growth: international sales, investment and talent acquisition and development,” said Scottish Enterprise.
Making the announcement at Venturefest in Glasgow on Wednesday, Paul Wheelhouse, Scottish Government Minister for Business, Innovation and Energy, said: “We know that stimulating the development of, and supporting, more high growth companies with the ambition and potential to grow their turnover to over £100 million is one of the most powerful drivers of growth.
“Evidence from Scotland, and benchmark economies such as Germany, shows these mid-sized businesses are the most dynamic group of companies which are most likely to boost innovation, increase productivity, exports, international competitiveness and to deliver sustainable, well paid new jobs.
“According to a UK scale-up report, boosting just one per cent of our scale-up business population could create 238,000 jobs and £38 billion of GVA (gross value added) across the UK within three years and we want to see Scotland pursue such an objective.
“That’s why our Programme for Government committed to working with our enterprise agencies and private sector partners to create an expanded and collaborative ‘scale-up’.”
Scottish Enterprise managing director Adrian Gillespie said: “Regardless of whether a company is starting up or is already well established, if it has the ambition to quickly grow to scale, we want to help.
“Our enhanced Start2Scale service has been developed following customer feedback for a more distinct approach and support system for companies facing challenges impacted by rapid growth.
“Our team of experts and specialists, working together with our CAN DO Scale partners, will ensure companies get access to the right support at the right time to match their growth ambition.
“We already actively work with around 180 fast growing companies on this journey.
“This enhanced service aims to build on that support, recognising that these important group of companies have specific needs.
“We aim to increase the number of companies we work with to 250 during 2018.”