South of Scotland Enterprise (SOSE) increased the number of firms it supports and the level of funding it distributes during its most recent financial year.
The latest annual report and accounts of the economic development agency shows it supported 1,300 businesses, social enterprises and community groups and distributed 152 grants totalling £9.2 million during the year to March 2024 from April 2023.
This compares with the 1,100 firms supported over the publicly funded agency’s previous financial year.
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The new report shows SOSE’s activities helped to safeguard 1,136 jobs and create 377 jobs during 2023/ 24. Investments of £13.7m into business and community enterprises were made, while a further £5.7m was provided for 48 strategic projects to help transform the region.
SOSE chief executive Jane Morrison-Rose said: “SOSE continued to work hard to deliver on our goals and ambitions in 2023/24. Having launched in 2020 we are determined to make the South of Scotland a rural economic powerhouse and a fair, green and flourishing place for all.
“Measuring the impact of what we do is key, and we now have a baseline set of data to be measured against. We are working to capture innovative measures on wellbeing and generational return alongside the harder data.
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“As expected, 2024/25 is proving to be a challenging year for all of us but we are absolutely committed to delivering success for the economy, environment and communities in the South of Scotland.”
Russel Griggs, chair of SOSE, said: “While our accounts show the level of funding we provide, I am becoming increasingly convinced that a lot of our best help is coming in the form of advice, advocacy, expertise and focus on key infrastructure issues like housing.
“The expertise and knowledge we have through our staff is helping us to build lasting relationships with our communities and businesses.
“While a challenging time, every one of the SOSE team is committed to meeting the ambitions of the south - at the same time as continuing to help communities, businesses, social enterprises and all of the people of the south to thrive, grow and fulfil the potential we know the region has.”
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