Scotland’s national economic development agency has announced “unprecedented” business support of more than £568 million in investment to Scottish businesses in 2020 and 2021.

Scottish Enterprise said that their “record level” of funding supported more firms in Scotland than ever before, resulting in more than £1 billion additional planned private sector investment.

Additionally, Scottish Enterprise said the support also secured almost 7,000 planned Real Living Wage jobs for communities across the country.

The organisation worked with domestic and international businesses, with the aim of boosting innovation and investment in “key assets” to help companies become more resilient and drive growth.

Supported projects include inward investments, adopting new ways of working including using digital, R&D, early-stage company equity investments and entrepreneurship.

To help Scotland achieve its net zero aspirations, a high proportion of investment went to projects that will help the country move towards low carbon economic future.

Commenting on the announcement, Scottish Enterprise Interim Chief Executive, Linda Hanna, commented: “Scottish Enterprise is determined to play a key role in supporting Scotland’s economic recovery and deliver a future green economy that is fair for all. Our performance over the past year shows we are on the path to achieving that.

“We are incredibly proud of these significant achievements in such an extraordinary year but none of it would have been possible without the hard work, determination and strength of Scottish Enterprise colleagues and the many businesses we had the privilege to work with.

“Despite the challenges presented by the pandemic and Brexit, Scotland was able to maintain solid levels of investment which has helped sustain and create employment for many thousands of people.

“Scotland is very much open for business and we look forward to working with our communities to develop further economic opportunities throughout the year ahead.”

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Emergency Covid-19 funds were developed and rolled out by Scottish Enterprise at the start of the pandemic, which resulted in £220m of grants providing vital support to 4,000 firms and  helping to protect more than 70,000 jobs.

Advice and guidance has also been a major part of the offered support, provided via the Find Business Support site, with more than 1,600 offers of industry support.

This helped to quickly accelerate and scale up Scottish manufacturing of PPE supplies and laboratory equipment to help combat PPE issues at the start of the pandemic.

Hanna continued: “As we fast approach the half-way point of this performance year we are seeing encouraging signs with continued appetite for investment.

“We can look to the future with optimism and together with businesses, industries and our partners, Scottish Enterprise is taking action together to deliver more, better jobs and places for the future that will enable shared wealth and wellbeing.”