An additional £25 million in new government funding is to be made available to small firms in the engineering, science, and technology sectors.
Michael Fallon, the business and enterprise minister, spoke recently about the large cash infusion that the government will be making directly to these small businesses. He also made the announcement that private investors may make the commitment of an additional £15 million as the UK explores avenues for economic growth and recovery, which could lead to an increase in work opportunities for contractors working through umbrella companies over the next few months as these businesses likewise increase their need for interim workers.
This support infrastructure will help the country to cement its reputation for the premier pace in Europe for business start ups, said Mr Fallon, as it will make finance for small firms much more accessible – especially if they are started within the UK to begin with. It’s vital to aid entrepreneurs to gain access to a wide variety of finance options, explained the government minister, adding that the new Enterprise Capital Fund, which combines the £15 million private sector investment with the £25 million government one to create a massive £40 million superfund, will fill gaps within the marketplace and aid the UK’s small firms in their quest to find the capital they need so dearly to grow and develop their businesses.
The new government announcement comes right on the heels of research findings announced by Deloitte that entrepreneurs and and start-ups are champing at the bit to make forays into emerging markets.
