Oct. 30, 2012
-- Businesses in Scotland will soon be able to bid for cash from a £1million fund by pitching their plans to a group of leading business figures including Sir Tom Hunter and Sir Willie Haughey. George Kennedy, Managing Director of G10 Global believes the introduction of the new scheme is a further sign that the Government is keen to kick-start the economy after recently entering a double dip recession.
G10 Global understand the Dragons Den-style fund is set to be announced today by Scottish Finance Secretary John Swinney and applicants will began to be considered before the end of the year. Swinney expects the fund to contribute greatly to Scotland’s economic success and explained: “the Scottish government is looking at new and innovative ways for the private and public sectors to work together to assist business growth in Scotland.” The new EDGE fund - short for Encouraging Dynamic Growth Entrepreneurs, will offer up to £50,000 to successful businesses and Sir Willie Haughey, chairman of City Refrigeration believes: "This scheme is something that Scotland has been crying out for. I have no doubt that this support for start-up businesses will increase the success rate."
In order to be successful, contenders must submit a detailed business plan and come up with a 60-second online video pitch. If selected, the applicants will appear before the business panel in early 2013. George Kennedy explained that he will be actively encouraging some of his business partners and understudies to apply for what he describes as a fantastic opportunity to receive not only a sizeable financial aid but also access to vital mentoring and support. Kennedy understands the difficulties involved in starting a new business and cited the people currently working around him as the catalyst behind the incredible rate at which G10 Global has grown. He explained: “Coaching and developing budding entrepreneurs by showing them how it can be done gives them the confidence to try it for themselves. This in turn creates growth, revenue and jobs for Scotland as well as a stable and successful future for those willing to give it a shot, it’s win-win.”
G10 Global operate out of the heart of Glasgow city centre and manage several clients across differing industries, specialising in the growing industry of Direct Sales & Marketing. For those currently involved with G10 Global, the EDGE fund is another reminder of the supportive environment in which entrepreneurs are fortunate enough to find themselves in Scotland today.