Menu
10/04/2013
Governments Business Bank Launched With £300m Investment
The first phase of the government’s new business bank has been launched with the announcement of an investment of £300m aimed at boosting smaller businesses struggling to get finance.
It is the first slice of £1bn of new capital , with ministers expecting the first transactions to take place by the autumn, although small and medium-sized enterprises (SMEs) were urged to submit an expression of interest by 22 May.
"Small and medium-sized businesses are still telling me that access to finance is their number one problem, preventing them from investing and growing,” business secretary, Vince Cable, said.
"That's why through the business bank we are developing a range of measures to provide businesses with the power to choose the type of finance that suits them.
"Today's £300m boost shows we are serious about increasing competition and diversity in the business lending market.
"Establishing a lasting business bank institution is a long-term project, but getting this money reaching SMEs as soon as possible is the first step."
(H/CD)
It is the first slice of £1bn of new capital , with ministers expecting the first transactions to take place by the autumn, although small and medium-sized enterprises (SMEs) were urged to submit an expression of interest by 22 May.
"Small and medium-sized businesses are still telling me that access to finance is their number one problem, preventing them from investing and growing,” business secretary, Vince Cable, said.
"That's why through the business bank we are developing a range of measures to provide businesses with the power to choose the type of finance that suits them.
"Today's £300m boost shows we are serious about increasing competition and diversity in the business lending market.
"Establishing a lasting business bank institution is a long-term project, but getting this money reaching SMEs as soon as possible is the first step."
(H/CD)
Related UK National News Stories
Click here for the latest headlines.
23 February 2011
Welcome For EU Review Of Support For Small Businesses
The UK Government, alongside other European member states including Belgium and Italy, today welcomed publication of the European Commission’s Small Business Act Review.
Welcome For EU Review Of Support For Small Businesses
The UK Government, alongside other European member states including Belgium and Italy, today welcomed publication of the European Commission’s Small Business Act Review.
17 January 2011
Simple Tax Laws 'Would Pay Off'
Some small business owners are so frustrated with the complexity of the UK tax system that they would pay more just to see it simplified, new research has found.
Simple Tax Laws 'Would Pay Off'
Some small business owners are so frustrated with the complexity of the UK tax system that they would pay more just to see it simplified, new research has found.
27 June 2013
UK Green Investment Bank Receives £800m Extra Funding
Business Secretary Vince Cable today confirmed that the UK Green Investment Bank (GIB) will get £800m additional funding for 2015/16. Speaking at the GIB's first annual review event in London, he said this meant that the bank would be able to allocate £3.
UK Green Investment Bank Receives £800m Extra Funding
Business Secretary Vince Cable today confirmed that the UK Green Investment Bank (GIB) will get £800m additional funding for 2015/16. Speaking at the GIB's first annual review event in London, he said this meant that the bank would be able to allocate £3.
12 December 2011
Green Investment Bank Plans Published
The Department of Business (BIS) has published plans to establish the first Green Investment Bank (GIB) to accelerate private sector investment in the UK’s green industry. On Monday morning, Business Secretary Vince Cable published criteria for deciding where the Bank will be based and what the Bank’s first priorities will be until 2016.
Green Investment Bank Plans Published
The Department of Business (BIS) has published plans to establish the first Green Investment Bank (GIB) to accelerate private sector investment in the UK’s green industry. On Monday morning, Business Secretary Vince Cable published criteria for deciding where the Bank will be based and what the Bank’s first priorities will be until 2016.
10 November 2011
£95M Bank Fund For Business
Hundreds of small businesses will be given £95 million as part of a bank fund to "boost growth" and "rebalance the economy", the Prime Minister said today. David Cameron said the funding was expected to create 4,000 jobs and "unlock" around £500 million of new investment by small and medium businesses (SMEs).
£95M Bank Fund For Business
Hundreds of small businesses will be given £95 million as part of a bank fund to "boost growth" and "rebalance the economy", the Prime Minister said today. David Cameron said the funding was expected to create 4,000 jobs and "unlock" around £500 million of new investment by small and medium businesses (SMEs).
-
Northern Ireland WeatherThis Evening and Tonight:A dry evening with some sunshine to end the day, then staying dry overnight with clear periods. It will be a milder night with light southeast winds. Minimum temperature 6 °C.
