Click here to sign up to our free newsletters!

Businesses in the Highlands eager to develop and expand are being encouraged to pop along to a special roadshow event in Inverness later this month.

Highland Council, Highlands and Islands Enterprise (HIE) and the Federation of Small Businesses (FSB) have teamed up with the British Business Bank to bring its SME Debt Finance Roadshow to the Highland capital on Wednesday, October 25.

The roadshow is targeted at ambitious business owners from across the Highlands and Moray seeking finance to develop and expand.

The event will bring north a variety of debt finance companies looking for opportunities to invest, and, thanks to the British Business Bank’s involvement, many will be visiting Inverness for the first time.

Organisers say the event will create “the perfect opportunity” for local businesses “to meet serious lenders looking for business opportunities”.

Barry McCulloch, senior manager Scotland, UK Network at the British Business Bank, said: “Access to finance remains a barrier to growth for businesses in the Highlands and Moray, particularly in rural areas. Small businesses may struggle to stay informed about debt market developments, and connecting with alternative debt lenders from the central belt can be challenging.

“This roadshow should help to bridge the gap between supply and demand for finance. The event provides a rare opportunity for businesses to engage with lenders, offering both growth and working capital via a range of debt products.”

The Federation of Small Businesses’ Highlands and Islands development manager, David Richardson, believes there will be plenty of businesses eager to grasp the “opportunities” the event will provide.

“It’s no secret that the north’s businesses have been going through a torrid time in recent years, what with Covid, skyrocketing costs, staff shortages and more, and many have been battling for survival. However, all is not doom and gloom, for there are many opportunities out there, not least those associated with our visitor economy and those that will arise out of the development of the new Inverness & Cromarty Firth Green Freeport.

“What we need – and what we have – are entrepreneurs who can seize and run with these opportunities, creating the strong, vibrant and sustainable businesses, economies and communities so important to the north’s future. The trouble is, they can’t always do it alone.

“Our FSB Scotland Big Small Business Survey, conducted last winter, found that a lack of finance was seen as a barrier to starting a business by around a half of Highlands and Islands respondents, and while just over a half planned to grow over the next two years, of those that didn’t a quarter cited a lack of finance as a reason. The need for support is obvious.

“We are delighted to join forces with the British Business Bank, Highland Council and HIE to create this event, which we believe will make a real difference to entrepreneurs who have almost everything they need, but who just require finance to get them over the line to success.”

Danny Gallagher, Highland Business Gateway manager, added: “Highland Council is delighted to support this event, for funding is key to SME success, enabling businesses to grow, innovate, adapt, and compete in the dynamic business landscape. Moreover, easy and affordable access to finance not only benefits individual businesses, it also contributes to job creation, economic growth, and overall societal well-being in the Highlands.”

And Lewis Macdonald, head of Enterprise Finance at HIE, said: “The Highlands and Islands is an attractive place to start-up and grow a business. Finding the right way to finance your business can be challenging. This tailored event is for SMEs in the region that need working capital or growth funding for their business development. It will help identify the right kind of funding and explore where to get it.”

The event will take place in the Inverness Town House on Wednesday 25 October, 10:00 until 14:00.

Organisers say there will be plenty of time for one-to-one conversations and networking, and a light lunch will be provided.

To register to attend click here.

More business news.

---

Do you want to respond to this article? If so, click here to submit your thoughts and they may be published in print.

---