FUNDING BOOST FOR CRAFT BEER BREWERS

Craft brewers 71 BREWING and FIERCE BEER, have been awarded combined Regional Selective Assistance (RSA) funding of £120,000 as part of a total planned capital investment of over £600,000.

The award, from Scottish Enterprise, will support the creation of 11 new jobs.

Both companies have been supported through Business Gateway in recent years to help them develop strategies for growth, and these RSA awards represent a further step in their development.

There are currently over 100 craft breweries operating across Scotland, with numbers increasing monthly, servicing both a growing market in the UK and oversees.

The UK premium bottled ale market is worth an estimated £490 million – up 10.5 per cent year on year, with estimates that this will grow to over £1bn by 2020.

This latest announcement coincides with a trade mission for Scotland’s craft brewing industry to Hong Kong next week attended by 14 companies, led by Scottish Development International, the international arm of Scotland’s enterprise agencies.

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