Since the 2008 global financial crisis businesses throughout the UK have found the conditions to build their operations increasingly difficult. A lack of support from traditional lenders or the experience required to grow their business are often the reasons.
Ultimately these conditions have an adverse effect on businesses because it does not allow them to invest in growth and development. In turn this has a detrimental effect on local communities because jobs fail to be created and retained as inward investment is blocked.
The Highlands, Islands & Moray regions face the same difficult lending circumstances which are prevalent in the wider UK economy. The creation of Highlands & Islands Business Finance Ltd is designed to be part of the solution to signpost accessible finance and support for SME's in these regions. This will enable them to grow their products and services, create employment and in turn boost the economy of their communities.
We have already supported over 20 businesses, creating and retaining around 40 jobs.
The unique part of HIBF is that we are a voluntary organisation and receive no income from what we do. We rely on our wide range of supporters and contacts, using their knowledge and experience to help other business people thrive.