A FUND that nurtures the next generation of entrepreneurial talent in Scotland is to receive a cash injection of £1 million to help more young people get businesses off the ground, First Minister Alex Salmond has announced.
The Prince’s Trust Youth Business Scotland (PTYBS) will receive the money to enhance its Revolving Loan Fund, which offers grants of up to £5000 to people aged between 18 and 25 who wish to set up or grow their business.
Speaking at the Business in the Parliament conference at Holyrood, the First Minister announced that Scottish Enterprise, through the Scottish Investment Bank, would invest in the Revolving Loan Fund.
He added: “I am pleased to announce that Scottish Enterprise, through the Scottish Investment Bank, will allocate £1 million of funding in 2012-13 to the Revolving Loan Fund. This investment will make a major difference to the impact of the fund.”