Small- and medium-sized enterprises located in and around these areas could receive unsecured, subsidised loans and free expertise – if they have the potential to create high-quality, long-term jobs, Scottish Business News reports. 

Brian Cairns, Michelin Development manager, Dundee, said: “In spite of all the challenges faced by businesses at the moment, some are absolutely primed for growth – they just need extra support to unleash really significant potential.

“That’s what Michelin Development is here for, and we need entrepreneurs and high-growth companies who want to invest in the future and create local jobs to come forward.”

Manufacturing, engineering and business to business service companies with fewer than 250 employees are eligible to apply. Unsecured loans from £5,000 are available, and they can usually be used to attract additional funding from other sources.

Mr Cairns added: “A lot of exciting things are happening in and around Dundee at the moment and Michelin Development wants to support and amplify that investment and regeneration. There are new and existing businesses across Dundee and South Angus that are ready to grow – we want to help them reach their potential.”