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"Scotland should be attracting growth companies and entrepreneurship because it has capital, and people," he said. "A technology business needs capital and people everything else can be acquired. "The money is there. You've got all the resources. Scotland has a history of innovation and global impact those two things are what the internet requires of its entrepreneurs. It would be wise to find ways of funding those businesses because otherwise they will get funded somewhere else. "This website and its associated newspaper adheres to the Independent Press Standards Organisation's Editors' Code of Practice. If you have a complaint about editorial content which relates to inaccuracy or intrusion, then contact theIf you remain dissatisfied with the response provided then you can.

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requires ten to 100 times that in order to scale them rapidly," McAfee said. "That next layer is where pension funds, endowments, insurance companies and commercial banks all play a vital role. They have to be encouraged to do so and they have to be allowed to do so by the government and not restricted so much that they can't be effective in that role. "Given that Scotland is not short of money managers with the capital to invest, he suggests the government needs to encourage them to favour home based firms, ensuring that the money stays, and multiplies, in the local economy. That may require a higher tolerance of risk but Nike Air Max Women Shoes 2016 can bring large rewards. "Are you going to water your neighbour's field or your own field?" McAfee said. "Whether you are buying currencies of bonds or other conservative instruments, what you are effectively doing is transferring that job creation to a foreign country. "Instead, he suggests that with Womens Nike Air Max 2017

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natural wealth such as oil, resources could be leveraged so that Scotland becomes a destination for foreign entrepreneurs, rather than the other way around.

the UK figure of 52. The figure is based on VAT registrations so may underestimate the true number, but it is still lagging behind the US. However, McAfee is more excited by the nature of the enterprises coming out of Scotland's universities in particular. He said: "You will see some very exciting younger technology companies that rapidly grow employment. Educated younger people, because of the products they make specifically software products they leverage the internet and are almost automatically global. "In Scotland there is a very strong academic feeding ground for those types of company. What increasingly will be needed will be growth capital, not the angel capital that seems to be here, but the capital in the order of 10m to 20m and up that will lead companies to continue growing here instead of being pressured to move elsewhere to get that kind of funding. "He points out that Scotland's business angel community has become an effective force for providing early stage capital and backing to ambitious young firms. Those funding rounds are typically in the order of 1m or 2m.

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