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The ESF in the news

Up to 10 000 new youth jobs for Scotland

13/06/2013

MD David Millar and First Minister Alex Salmond watch young staff member at work at Miller Callaghan Engineering in Irvine
© John Young / www.YoungMedia.co.uk

Almost £90 million is to be invested in helping Scotland’s young people into work and supporting small business growth.

Up to 10 000 young people Scotland-wide are expected to be supported into work – particularly in small businesses – thanks to a new 87.85 million total investment package bringing together cash from the Scottish Government, local councils, Cosla, the European Commission and employers. An additional 3 000 jobs are expected to be created in small business around the country for workers of all ages.

In all, the investment package is comprised of two different funding streams:

  • The £50 million Youth Employment Scotland Fund, made up of £25 million from the Scottish Government and European Social Fund, matched by £25 million worth of in-kind support from employers and local councils
  • The £37.85 million SME Growth Programme to support businesses to grow and create employment opportunities for people of all ages – including young people, made up of £15.1 million cash from the European Regional Development Fund matched by £22.75 million worth of support from Scottish Enterprise and Business Gateway.