Fife payment business to showcase wares on international trade mission

Payment specialist Renovite Technologies has been selected to showcase its payments technology to Swiss and Austrian financial firms.


The Dunfermline business has been selected by the UK Department for International Trade (DIT) and Scottish Development International (SDI) to take part in a fintech trade mission to Vienna and Zurich later this month.


Taking place from January 23-24, the mission aims to stimulate business between the UK delegation and financial institutions in Switzerland and Austria.  Renovite and a select group of other Fintech companies will be meeting with banks, venture capitalists and other organisations with an interest in fintech and innovation.


Previous fintech missions to Switzerland led by the DIT have subsequently generated £45 million in business deals.


Jim Tomaney, chief operating officer at Renovite Technologies said:


“We are thrilled to have been selected as a delegate for the mission and look forward to showcasing how our work is enabling positive change using state-of-the-art cloud technology.


“It’s really a very positive sign that major financial organisations are now rising to the challenges and demands of an increasingly complex payments environment by looking to businesses that can offer the kind of agility and innovation they can’t source from traditional suppliers.”


Renovite Technologies, which also has offices in California and New Delhi, established its European headquarters in Dunfermline in 2017.  The UK team has grown from four to 20 since then and plans to add another ten employees – including six trainees – by the end of 2019.


Click for more information about the trade mission.




Scottish Government announces additional funding for SMEs

Businesses will be able to access more than £100 million to help them expand and unlock investment through the next phase of the Scottish Growth Scheme.


Small and Medium Sized Enterprises (SMEs) across Scotland will have the chance to apply for financial support, including micro-finance loans of up to £25,000, debt or loan finance of up to £100,000 and equity investment deals of up to £2 million.


As part of the initiative, Scottish Enterprise has also introduced a loans scheme offering loans from £250,000 to £2 million, or up to £5 million in exceptional circumstances, for growth-focused SMEs.


Announcing the funding, Economy Secretary, Derek Mackay, said:


“This next phase of the Scottish Growth Scheme will unlock substantial investment for the most ambitious new and existing businesses, helping them scale-up for the future.


“Amid the uncertainty of Brexit, it’s important that the wider business community remains confident that access to finance should not hinder their ambition or growth.  This direct investment will boost the economy and give even more companies access to vital capital.”


For more information about the fund, SMEs should contact Scottish Enterprise.

Briggs Marine Turnover up by 17%

Briggs Marine and Environmental Services is reporting a 17% increase in turnover.


The Burntisland-based company, which supplies a range of services throughout the marine industry, has just published its new accounts for the year ending March 2018 at Companies House, showing an annual turnover of £58 million, 17% more than the previous year.


Collieson Briggs, Managing Director of the Briggs Group, said: “The marketplace remains challenging, but the company has delivered a profitable performance in the year to March 2018, and in the short to medium term, I expect the company to continue delivering improved operational performance in the year 2018/19.  It is great to see that across the whole group, we continue to be successful in winning new contracts, as this further develops our presence and reputation in the marine services industry.”


Click to read the whole story.



Partnership appoints new Chair

The Fife Economy Partnership announces the appointment of Michael Longstaffe as its new Chair.


Chief Executive Officer at Smith Anderson – the UK’s leading manufacturer of paper bags, based in Kirkcaldy – Michael was previously chair of the Partnership’s Trade Development Group and is a longstanding director of the Fife Chamber of Commerce.


Retiring Chair Stephen Edmiston (right) welcomes new Chair, Michael Longstaffe (left)

Michael will be assisted by Ian Palmer, Managing Director of John Fergus & Co Ltd, who was elected the Partnership’s Vice-Chair.


The appointments were made at the Fife Economy Partnership (FEP) Executive Group’s quarterly meeting held last month at John Fergus & Co Ltd’s Inchdairnie Distillery in Glenrothes when members thanked its outgoing Vice-Chair, Stephen Edmiston.


Stephen, who has been an active member of the Fife Economy Partnership for a number of years, was presented with a crystal award in recognition of his Vice-Chairmanship over the past four years.


Director of Operations at Ingenico in Dalgety Bay, Stephen was elected Vice-Chair in January 2015 and took over the Chair’s responsibilities in June 2018.


Cllr Altany Craik, Convener of Fife Council’s Economy, Tourism, Strategic Planning and Transportation Committee, praised the work carried out by Stephen during his four year term of office saying:


“We’re all indebted to Stephen for the commitment and leadership he’s given the Partnership.  Under his leadership, the Partnership launched a new Economic Strategy for Fife and refreshed and reviewed the structure of the FEP, setting up a number of business-led delivery groups to take forward our new strategy along with an annual business forum with local MPs and MSPs.


“We are delighted that Michael and Ian have both agreed to take on the respective rols of Chair and Vice-Chair.  Their collective wealth of experience will bring great value to the FEP and we look forward to working with them both as we take on the big challenges and opportunities facing Fife’s economy.”

Additional £50m Scottish government funding for Tay Cities Region

The Scottish Government has announced a further £50 million investment in the Tay Cities Region for new transport and industry projects.


First Minister, Nicola Sturgeon said £40 million would be invested in the Cross Tay Link Road in Perth, with the remaining £10 million funding an ‘industrial investment programme’ to support manufacturing businesses in Dundee, Perth, Angus and the north of Fife.


This funding is additional to the Scottish and UK governments’ commitment to each invest £150 million in the Tay Cities Deal.


The Tay Cities Region Deal brings together public, private and voluntary organisations in Angus, Dundee, North East Fife and Perth and Kinross.  The Heads of Terms for the Deal was signed on 22 November 2018 which is estimated to secure more than 6,000 jobs and lever in more than £400 million in investment over the next ten years.


Click for more information on the investment announcement.