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Scotland’s cities to get £5m boost from government

Category: Scottish Investment — Mark on December 18, 2011

It has been confirmed that the six Scottish cities are to receive extra funding to boost their local economies.

The Council leaders of Aberdeen, Dundee, Edinburgh, Glasgow, Inverness and Stirling will have to decide what projects will receive the cash.

A total of £5m has been set aside by the government for the investment fund, which will be used on the projects agreed upon.

There are many areas for investment that are up for consideration to be given the cash and lobbying is likely to be strong. However, it is thought that initiatives concerned with the marketing of the cities will be a popular route.

By promoting the cities as attractive areas in which to live and work, and by showcasing them to tourists, it is hoped that further investment could come from Europe and private ventures.

The Scottish Cities Alliance will also likely provide advice to local business as to how they can help and benefit from the process. An important part of ensuring success of the investment is the presence of healthy local businesses, so their role could be crucial.

During hard times though, it can be difficult to move forward and take advantage of opportunities that present themselves. With traditional funding hard to come by, looking at factoring as a strategy is working for many.

Allowing companies to access their income effectively for reinvestment, it can be a lifeline and growth tool in equal measure.

With much of the new government funding being spent in a bid to bolster transport networks, digital connectivity and environmentally friendly initiatives, being in good financial shape now could help a company’s long term future.

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

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