Tag Archives: SME

£37.5m investment pot available to SMEs in government drive

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Innovative small to medium-sized enterprises are set to benefit from a new £37.5 million government-backed scheme.

Business secretary Vince Cable announced details of a new scheme yesterday (October 8th), which will support those who invest in high-growth small businesses

Mr Cable has said that he is “determined” to give SMEs the financial support needed in order to help them grow.

Episode 1 will use the funding to put between £250,000 and £2 million into around 20 to 30 technology firms in their early stages. 

Alongside the government’s £25 million, a further £12.5 million has been raised through private investment.

One of Episode 1’s partners is Dr Simon Murdoch, who has invested in companies including LoveFilm, Shazam and Zoopla over the last ten years.

He said: “I know from personal experience, it is hard to start and grow a business, even without the added difficulties of the current economic climate.”

Posted by the Secret Businessman

CBI reveals plans to encourage SME growth

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A series of new measures have been unveiled to encourage growth for small to medium-sized enterprises (SMEs) in the UK.

The Confederation of British Industry (CBI) has partnered with built asset consultants EC Harris to develop a new report on how to rejuvenate the economy.

Among the study is a call to offer a business rates “holiday” for firms during their first year after moving into empty premises in an attempt to reduce the number of uninhabited properties on the high street.

Another measure is to encourage public bodies to free up surplus assets – including properties and land – to allow for future regeneration. The idea here is to create modern offices and good transport links, which will in turn encourage SMEs to invest.

EC Harris’s UK regional leader Tim Neal said: “The private sector has an important role to play in fostering the growth of our local economies and creating thriving communities across the country.”

Posted by the Secret Businessman