Scottish Government launches £2m digital development loan for businesses

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.”