£1 Million Invested Into Highland Businesses

30th May 2008

In the last financial year 2007/8 Highland Opportunity Limited (HOL) awarded over £1 million of investment into Highland businesses, matching the previous record level of investment seen in 2005/6.

In a report presented to The Highland Council's Planning, Development, Europe and Tourism Committee, members were told that 300 Highland jobs created or supported through HOL's activity last year, again matching the previous record from 2 years ago.

HOL is the Highland Council's business development company, which aims to create and sustain employment in the Highlands through active support to businesses and communities. The Council has an annual contract with HOL who undertake to deliver a number of services to set targets including providing discretionary loan finance to SMEs and community enterprises, support services to businesses and practical help for young entrepreneurs. HOL is also the operating agency for Prince's Scottish Youth Business Trust in the Highlands and hosts the Enterprise Europe Network office on behalf of the European Commission.

Chairman of The Highland Council's Planning, Environment and Development Committee, Councillor Drew Hendry said: "This performance shows that a culture of enterprise is growing across the Highlands from a range of entrepreneurs. All sectors are taking part, from manufacturing and tourism through to local food produce.

"The Council's support for HOL fits in with our Administrations aims, to work with the Scottish Government, the business community and statutory development bodies to develop services and infrastructure that reflects the needs of Highland businesses and creates employment opportunities."

After the presentation of the report, Members approved the renewal of HOL's contract and agreed targets to measure the service delivery for the next 12 months.

Highland Opportunity Ltd Web Site
www.highland-opportunity.com

Highland Opportunity Limited is a Highland Council Company limited by guarantee with a Board of Directors drawn from the elected Members of the Highland Council. The Directors currently serving are: -

Councillor Helen Carmichael, (Chair)
Councillor Ian Brown, (Vice Chair)
Councillor Bill Fernie
Councillor Jimmy Gray
Councillor David Henderson
Councillor Drew Hendry
Councillor Alan Torrance
Councillor Isobel McCallum
Councillor Graeme Smith

Highland Opportunity Limited is the Enterprise Trust for the Highlands providing discretionary financial assistance, professional business support, youth enterprise services and European consultancy to small and medium-sized enterprises. We have a particular interest in new and developing businesses. The company has been providing financial assistance to Highland businesses since 1986 and has a net asset value of more than £4 million.

OBJECTS
The objects for which the company was established are: -

1. To stimulate economic activity in the Highlands by helping to protect and expand existing employment and to create new employment within the region.
2. To identify prospective industrial entrepreneurs and community groups to develop business ventures.
3. To provide or assist in the provision of finance to persons carrying on or interested to carry on venture and small business projects located or intended to locate in the Highlands.

AIM
The Enterprise Trust's aim is to encourage employment in the Highlands by fostering businesses and community enterprises and in particular: -

to encourage local business start-up, growth and development.
to support young entrepreneurs.
to make effective connections with the European Community.
to promote community enterprise.
to operate projects which assist employers and job-seekers
To achieve this aim, Highland Opportunity Limited provides low interest loans to businesses, holds the agency for the Prince's Scottish Youth Business Trust, hosts the European Info Centre in Inverness and is working with Social Investment Scotland.