Leading Academic: We need to “hit the reset button” on Scottish National Investment Bank
Business expert Professor Ross Brown, in paper for Reform Scotland, says SNIB is “shackled”, its mission “vague” and its impact “limited”
Reform Scotland, the independent, non-partisan think tank, has today released a new paper written by Professor Ross Brown, Professor in Entrepreneurship and Small Business Finance at the School of Management, University of St Andrews, in which he calls for a full review of the operation of the Scottish National Investment Bank (SNIB).
The paper – Mission Accomplished? Assessing the Performance of the Scottish National Investment Bank lauds the concept of SNIB, but finds that more than a year after the bank’s launch its strategy, operation and impact have only had a very modest impact.
Professor Brown finds:
- The Scottish Government’s broad mission for SNIB has unintentionally prevented the firm-specific investments it needed to make
- Only seven companies have received funding so far, creating a very limited economic impact
- The Scottish Government should consider channeling resources to SNIB from poorly performing organisations such as Scottish Enterprise