Boris promises millions to SMEs


A whopping £40 million cash injection has been promised by Boris Johnson to help boost jobs and growth in London.

The Mayor of London announced the investment last week (May 2nd) on a visit to dessert firm Gu Puds, where he helped chefs make a chocolate souffle. I don’t know whether the rising pud was supposed to symbolise the increase in cash for London’s small and medium-sized enterprises (SMEs), but it was good news nonetheless.

It’s hoped the fund will will boost a new jobs and growth strategy developed by the London Enterprise Panel (LEP), with around £25 million going to SMEs and the remainder being invested in technology, science and infrastructure.

“My top priority is to get London’s economy moving and create jobs,” Mr Johnson said. “Today’s fund, which will enable significant support for small and medium businesses, is just one way we are working to unlock potential and provide jobs for our growing city.” 

Gu Puds is one example of a London business doing well – in ten years it’s grown from a small start-up with an initial £100,000 investment, to a household name. Here’s hoping the mayor’s cash injection can help other SMEs get a taste of Gu’s sweet success.

Posted by the Secret Businessman