To improve productivity and increase investment in the manufacturing industry, the Scottish government has started to allocate funds throughout the sector. Thanks to the Circular Economy Investment Fund and Circular Economy Business Support Service, moving towards a circular economy constitutes an opportunity for Small and Medium-sized Enterprises (SMEs) to get access to helpful fundings.

Supported by £70 million of investment, a new strategy for manufacturing - A Manufacturing Future for Scotland - outlines how the government will work with industry and with higher and further education institutions to stimulate innovation, improve productivity and increase investment in Scottish manufacturing in order that it can better compete globally.

The funding, includes £30 million from the European Regional Development Fund (ERDF), and will enable companies to capture new opportunities presented by a move to a more circular economy. The ERDF allocation is part of a targeted approach investing European funding to develop a resource-efficient, greener and more competitive economy in Scotland. This includes a Circular Economy Investment Fund to help manufacturers develop innovative technologies, business models and infrastructure, from the proof of concept stage through to implementation. It will also introduce a new Circular Economy Service, offering development support to businesses seeking to redesign their processes and products.

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