Supporting Innovative businesses

The Exchequer Secretary has announced that a new fund will provide £200 million for British businesses, as the Conservatives; balanced approach to the economy means that we can support innovative companies, ensuring they can access the finance they need to grow.

Key facts: 
  • We are fully committed to supporting small businesses to succeed as part of our modern Industrial Strategy. 
  • As the UK leaves the EU and our relationship with the European Investment Fund changes, we remain committed to ensuring that innovative firms can access the finance they need to grow. 
  • The funding – made available through the British Business Bank – will provide loans to small companies looking to increase in size. 
  • Venture capital and investment firms will be able to approach the British Business Bank to bid for a share of the £200 million to invest in small UK firms. 

Why this matters:

We are creating more start-ups and attracting more venture capital funding than any other European country, but we want to do more to ensure our small businesses and entrepreneurs can thrive and make the UK the best place in the world to do business.

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