Business founders received an average of £9,223 to help them get started as their own boss, alongside additional support from the programme in areas such as marketing, business development, and business plan writing.

Of the loans awarded to Glasgow entrepreneurs, 38% have gone to female founders, 11% to under 25s and a further 24% to those aged between 25 and 30, highlighting the programme’s role in widening access to enterprise opportunities across the city.

Additionally, of those under 25s who received finance to start a business, 38% had previously been not in employment, education, or training (NEET).

Small business minister, Blair McDougall, said: “The government is determined to unlock the UK’s immense growth potential and that means ensuring entrepreneurs can access the finance they need including through the Start Up Loans programme.

“This is an impressive milestone for the programme which has supported entrepreneurs and businesses in Glasgow, boosting the local economy and raising living standards.”

Louise McCoy, managing director, Start Up Loans Products, British Business Bank, said: “Supporting Glasgow’s entrepreneurs with more than £10 million in funding is a huge achievement for the Start Up Loans programme.

“The city is bursting with energy and creativity, and it’s inspiring to watch local founders take the first leap and grow their businesses.”