Scotland's business angels have an enviable record of providing the vital investment that allows fledgling companies to develop and grow.
They have never been more vital. The latest figures from Linc Scotland, a consortium representing around one-third of private investors, show Scottish companies received £15.5 million through its network in the first half of this year, compared with £10.3m during the same period in 2011. Encouraging as it is that such funding is increasing, the additional amount provided funding for only one more company than last year – 36 against 35 – and the larger stakes, with four over £1m, is an indication that even those businesses which have found their feet are finding it impossible to gain bank loans on terms they can meet, despite agreements to increase lending by those largely owned by the taxpayer.
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