Capital for Enterprise Fund

First SMEs Benefit from Capital for Enterprise Fund

First SMEs Benefit from Capital for Enterprise Fund

Technology firms KeTech and Vamosa are the first to benefit from a government-backed fund providing vital investment to innovative small businesses. In Nottingham today, Business Secretary Lord Mandelson announced an investment of £2m from the Capital for Enterprise Fund to local firm KeTech. A further £1m investment is being made in Glasgow-based Vamosa, which provides IT systems to businesses and the public sector. Lord Mandelson said: “Ambitious and innovative businesses like these are the lifeblood of the economy but tough credit conditions can make it difficult for them to invest in their future. The Government is committed to ensuring that viable companies have the finance they need to grow”. Ensuring innovative British businesses can access this sort of risk ... »

Government Unveils New Finance Schemes

Business Secretary Lord Mandelson today unveiled a package of measures designed to address the cash flow, credit and investment needs of small and medium businesses. The support package, which builds upon the commitments outlined in November’s Pre Budget Report, consists of loan guarantees and a new Enterprise Fund aimed at helping companies struggling to access finance for working capital and investment. The Government measures include: A £10bn Working Capital Scheme, securing up to £20bn of short term bank lending to companies with a turnover of up to £500m An Enterprise Finance Guarantee Scheme, securing up to £1.3bn of additional bank loans to small firms with a turnover of up to £25m A £75m Capital for Enterprise Fund (£50m from Governme... »