03 April 2020
Funding boost aids Perthshire grower
A £1 million boost from HSBC UK's national SME Fund will enable Perthshire-based FIMM Potatoes to purchase a new optical potato grader which could enable the company to almost double throughput.
The HSBC's SME Fund aims to support British businesses amid Brexit and the Covid-19 outbreak.
As well as the UK, the company supplies seed and table potatoes exports to Europe, North Africa and the Middle East.
Mike McDiarmid, Director at FIMM Potatoes, said the new optical grader will modernise its equipment and help to safeguard the business while relieving FIMM’s 10-strong team from manual labour, allowing them to focus on additional duties and developing technical skills to help the business continue to grow.
The fund was launched in 2014, with more than £60bn committed to UK SMEs to help British businesses innovate, evolve and grow.
An HSBC statement said: "This year’s fund has increased by £2bn from last year, reflecting our commitment to supporting businesses through economic uncertainty. For those companies exploring opportunities overseas, the ring-fenced pot for international businesses has been doubled to £2bn."