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Scots brewers celebrate grant awards

Category: Invoice Factoring — Paul Morgan on September 25, 2012

Two Scottish brewers have received grants from Holyrood, to help them shift production to Scotland and boost local economies.

BrewDog, which is based in Aberdeenshire, will receive £551,000 while Glasgow-based Heidi Beers will get £1.85m.

The cash injection will assist BrewDog with its plans to create an eco-brewery in its home region and move much of its production from Belgium and England. It is expected that the new facility will create 16 jobs.

The firm’s co-founder, James Watt, said:

“The grant award has ensured that our state-of-the-art eco-brewery is being built in Aberdeenshire.”

Heidi Beers, trading as West Brewery, meanwhile will use the cash to open a new facility in the country, moving 70 per cent of its production from Germany. Eighteen new positions are expected to be created as a result.

The funding has been awarded by the Scottish Government to boost the creation of new jobs in SMEs in the country. It is also aimed at boosting Scottish commercial finance investment.

Many companies unable to get the levels of investment they need are looking at alternative methods. For example, invoice based lending through factoring and discounting facilities are proving popular.

The brewers are two of 32 companies granted financial backing under the latest round of Food Processing, Marketing and Co-operation (FPMC) funding. A total of £9m has been apportioned to firms, which has also included a Fife distillery and a Falkirk-based butcher.

In the last four years, nearly 160 projects in Scotland have shared about £38m under the FPMC investment scheme.

'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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