In a significant boost to the local business landscape, a new funding opportunity through the Tay Cities Deal has been launched which empowers small to medium-sized enterprises (SMEs) across Angus, Dundee, Perth and Kinross and North East Fife.
The new Tay Cities SME Skills Fund, backed by a £2.47 million allocation from the Scottish Government, offers eligible businesses with fewer than 250 employees a substantial grant of £5,000 to be put towards upskilling or re-skilling their workforce. The fund serves as a targeted resource to enhance employee capabilities, aligning them with ever-changing industry demands.
Launched earlier this week at an event held at Dundee and Angus College’s Gardyne Campus, the fund has strategically partnered with major training providers in the Tayside region, including Abertay University, Fife College, UHI Perth, Dundee and Angus College and the University of Dundee. These five training providers will deliver targeted training courses to address skills gaps within local SMEs, improving their employee experience and increasing retention rates.
The Scottish Government's Employer Skills Survey 2022 that was published in November 2023 showed that 15% of Scottish-based employers had a skills gap within their workforce and that 66% of employers anticipated a need to upskill their staff in the coming year. Currently, the engineering, manufacturing, business & finance, software and digital sectors are the industries being hit hardest by the skills gap.
Recognising the unique needs of each business, the Tay Cities SME Skills Fund project can offer bespoke training opportunities, catering to specific skill set requirements as necessary. The fund’s Training Needs Advisors, Elaine Donnachie and Heather McDonald, will guide SME businesses through skills gaps identification and training needs to ensure applicants maximise use of the fund given that businesses can only apply for the SME Skills Fund once over its operational lifetime (2024-2030).
As part of the project, businesses who utilise the fund will also gain access to additional support services provided by key business support partners which include Business Gateway/Elevator, Dundee and Angus Chamber of Commerce, the Federation of Small Businesses, Perthshire Chamber of Commerce, Scottish Enterprise - Workplace Innovation and Skills Development Scotland.
“This fund is not just about financial support, it is a strategic investment for SME businesses to put into their workforces. It will enhance the employee experience, foster professional growth, and ultimately, secure long-lasting success for these businesses,” says Elaine Donnachie, one of the fund’s Training Needs Advisors.
“We are delighted that we will also be able to connect these businesses with our supportive network of professional partners in the local business community to ensure they gain comprehensive support, addressing every facet of their business needs.”
For businesses looking to access the fund, a funding application form can be filled out at www.tcskillsfund.co.uk
Image above shows guest speakers at the event: (L-R) Simon Hewitt - Principal & CEO of Dundee & Angus College, Jade Robertson - Creative Director of Little Lies, Jimmy Urquhart - Owner of Discovery Flexibles, Caryn Gibson - Business Partnerships Manager at D&A College, and Stevie Baxter - CEO of The Sporting Pursuit.
Dundee & Angus College
Dundee and Angus College is moving away from traditional thinking and focussing much more on careers not courses. It wants the people of the Dundee and Angus region to be better informed and prepared for the career options available to them, no matter what stage they are at.
