New £40 million entrepreneur fund
A new £40 million entrepreneur fund backed by the British Business Bank has been announced by Small Business Minister Margot James.
The new Enterprise Capital Fund is supported with £26 million from the government-owned British Business Bank, and will offer a total investment capacity of £40 million designed to specifically help rapid growth businesses scale up.
Making the announcement in Manchester during the Scale-Up Institute’s regional economic growth programme, James explained how Active Private Equity will run the fund.
James said: “Small businesses are at the heart of our economy and the whole country benefits when they grow and create jobs for people. The government-owned British Business Bank is helping more than 48,000 businesses with over £3.1 billion of support, much of it going to those with high-growth potential.”
The minister met with local businesses and representatives from the Local Enterprise Partnership (LEP) to hear about the issues that matter most to them.
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