Delighted with the announcement today by the Exchequer Secretary that £200 million of government support will be made available to innovative businesses through funds supported by the British Business Bank. Great to see that the Conservative's balanced approach to the economy means that we can support innovative companies, ensuring they can access the finance they need to grow!
Full information can be found over here, or if you're short of time the key facts are:
As the UK leaves the EU and our relationship with the European Investment Fund changes, we remain committed to ensuring that innovative firms can access the finance they need to grow.
The funding – made available through the British Business Bank – will provide loans to small companies looking to increase in size.
Venture capital and investment firms will be able to approach the British Business Bank to bid for a share of the £200 million to invest in small UK firms.
Amazing news that we are creating more start-ups and attracting more venture capital funding than any other European country - definitely something to be proud of! Despite this success, the Government still wants to do more to ensure our small businesses and entrepreneurs can thrive and make the UK the best place in the world to do business. A very welcome announcement!