Hundreds of small businesses will benefit from government investment of £95 million to help boost growth and rebalance the economy, Prime Minister David Cameron announced today.
The funding is expected to create at least 4,000 jobs and unlock around £500 million of new investment by small and medium businesses (SMEs).
RBS, NatWest and HSBC have agreed to facilitate the distribution of the £95 million - which is part of the government’s Regional Growth Fund. RBS and NatWest will facilitate £70 million and HSBC will facilitate £25 million. The banks will not profit financially from the administration of these schemes.
Through these schemes small businesses, which are unable to secure commercial funding for their project, have the potential to benefit from government support through the banks’ regional networks in order to make their project commercially viable. The schemes announced today will provide grants to support SMEs considering investing in new capital assets and creating new employment.
The funding is expected to create at least 4,000 jobs and unlock around £500 million of new investment by small and medium businesses (SMEs).
RBS, NatWest and HSBC have agreed to facilitate the distribution of the £95 million - which is part of the government’s Regional Growth Fund. RBS and NatWest will facilitate £70 million and HSBC will facilitate £25 million. The banks will not profit financially from the administration of these schemes.
Through these schemes small businesses, which are unable to secure commercial funding for their project, have the potential to benefit from government support through the banks’ regional networks in order to make their project commercially viable. The schemes announced today will provide grants to support SMEs considering investing in new capital assets and creating new employment.
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