GLASGOW Chamber of Commerce last night welcomed a donation of £100,000 from a local businessman.
John Watson OBE made the "extremely generous" gesture as he presented the Chamber's Lifetime Achievement award to Baron Gordon of Strathblane CBE at the 2015 Glasgow Business Awards. Mr Watson was last year's recipient of the award.
The chamber will use the money to assist local businesses, enabling up-and-coming firms to grow "and hopefully create the city’s next success story."
It will invest in firms, providing an injection of finance which can help them to develop. Amounts will vary but could extend up to £10,000.
Businesses will also be given access to the Chamber's network of contacts and support services which can help them with issues including trade certificates, advice on recruitment or securing additional finance.
Over the last 12 months, Mr Watson has been making a number of donations around the city. In 2014 he gifted Marie Curie Hospice £50,000 and gave £125,000 to Glasgow Academy to part-fund a new science and technology building.
Stuart Patrick, chief executive at Glasgow Chamber of Commerce said: “We would like to extend our sincerest gratitude to John Watson OBE for this extremely generous donation. It is our intention to use this money to provide maximum benefit to the city’s business community.
“There are many aspiring companies operating in their early stages around Glasgow and this fund will be used to help some of them grow to reach ambitions which may be beyond reach without additional funding.
“Together with our board of directors, we are currently putting the finishing touches to the detail of how the money will be used, setting out the processes by which the Chamber will utilise this fund.
“It has also been our mission statement to support businesses across Glasgow but this fund will allow us to directly invest in some rising stars, hopefully fostering the city’s next business success story.”
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