FOR IMMEDIATE USE 12/02/
NEW SCOTTISH BUSINESS CROWDFUNDING WEBSITE LAUNCHES.
To help Scottish businesses to raise seed and start up capital a new website, www.scottishfunding.co.uk, has been launched. A locally based version of the Crowdcube funding website, it has been launched by Glasgow company Scrimshaws ID Ltd in conjunction with the Exeter-based owners of Crowdcube.
Spencer Pryor MD of Scrimshaws commented: "This is the first Scottish crowdfunding website to be set up that is aimed at start up and early stage Scottish companies and investors. If you are a Scottish entrepreneur looking for between £5,000 and £1 million and you are prepared to give away some equity to some of our 29,000+ registered 'angel' investors then you should definitely be 'pitching' your business on scottishfunding.co.uk. Many of our start up businesses will enable our investors to have significant tax breaks under certain conditions through the SEIS and EIS schemes run by HMRC. So morally and financially it makes sense to invest some money in new Scottish businesses, rather than give the money straight to the taxman who'll probably squander it in other parts of the UK!"
"The use of the internet to market new businesses and opportunities is a great idea and is cost effective in relation to bank loans and other forms of capital raising. That is even supposing the banks were interested in start up businesses and offering loans, which they're not, even with supposed governmental support with cheap financing."
"We have launched this site in association with Crowdcube, who are provinding the due diligence, back office and FSA regulatory functions. Our expertise will be in helping Scottish businesses to prepare their pitches from the Scottish angle and make them ready to market their ideas to potential investors. As with most 'crowd funding' sites there are no upfront costs to pay and businesses only pay a fee when they are successful in raising their investment."
Spencer Pryor, Scrimshaws ID Ltd. 0843 50 60 141