Scottish Government launches £2m digital development loan for businesses

Written by Jenni Davidson on 20 June 2018 in News

The fund will help businesses meet the upfront costs of improving their digital capabilities

Computer with a data dashboard - Image credit: Pexels

The Scottish Government has launched a £2m digital development loan for businesses to improve their digital capabilities.

The money can be used in areas such as cyber security, data analytics and software engineering, as well as to develop staff digital skills.

It will enable businesses to cover the upfront costs of investing in digital technology and skills and repay the expenditure gradually.

Loans will be interest free and the repayment can be spread over three to five years.

The tender to deliver and manage the digital development loan has been awarded to Lanarkshire Enterprise Services, a business support specialist for SMEs.

Economy Secretary Keith Brown said: “We are committed to investing £36 million to improve Scotland’s digital productivity and ensure we are ready to embrace the opportunities of a digitally driven economy in the future.

“The £2 million Digital Development Loan is the first phase of that process and will provide access to finance for small and medium sized businesses who want to improve their digital capabilities and the skillset of their staff.

“The Scottish Government will continue to work with business to ensure companies across Scotland have support they require to invest in their company, their staff and in their digital future.”

Tags

Categories

Related Articles

HMRC to open high-tech Edinburgh hub
17 June 2019

Plans to relocate almost 3,000 civil servants to a new office building in Edinburgh city centre have...

Lloyds to create 500 high-skilled jobs at a new digital tech hub in Edinburgh
20 May 2019

LBG has started recruiting software engineers and data scientists for the hub, which will be based at its Scottish Widows' headquarters

Free-to-use cash machines disappearing at 'alarming rate'
1 May 2019

Figures from Which? show around 1,700 cashpoints were converted to pay-to-use in the first three months of 2019

Related Sponsored Articles

Associate feature: 5 ways IoT is transforming the public sector
5 February 2018

Vodafone explores some of the ways IoT is significantly improving public sector service delivery

Balancing security and digital transformation
24 October 2018

With the annual worldwide cost of cybercrime set to double from $3tn in 2015 to $6tn by 2021, BT offers advice on how chief information security officers can better...

Associate feature: Who keeps your organisation secure?
19 February 2018

BT's Amy Lemberger argues that having the right security in place to protect your organisation is no longer just an option. It is a necessity.

Share this page