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New £200m Government Funding Initiative

A new government fund has been revealed which is looking to re-invigorate growth across a range of UK businesses. With funding notoriously difficult to come by for many companies in the current climate, this new fund could breath some life back into growth figures across a variety of industries.

Growth Accelerator campaign

Vince Cable, the Business Secretary, has launched the £200million Growth Accelerator campaign as an initiative to give up to 26,000 UK businesses a boost. Aiming to help those with the biggest potential who perhaps are struggling to get funding, this campaign will improve growth as well as create jobs.

The funds look set to help with the creation of 55,000 new jobs. With unemployment figures still worryingly high, this can only be good news. This also shows the level of growth it is looking to encourage within Britain’s brightest businesses, and with small business being seen as the life blood of the economy, this is just what the government needs to be doing.

Vince Cable has indeed said that this is part of the government’s ‘exciting’ new program aimed squarely at benefiting small business. UK growth figures are looking dismal at best in the coming year, so hopefully this initiative will provide some respite.

Cable commented, ‘The UK boasts vibrant small and medium businesses that have the chance to become the household names of tomorrow. With targeted support we are giving entrepreneurs a fantastic opportunity to take their businesses forward to succeed both here and abroad. I look forward to seeing what this great programme help them achieve in the future.’

Government initiatives can be a good way to small business finance, especially for new and innovative businesses who may find it hard to convince banks to lend to them. If your business is struggling for finance, make sure to stay aware of all the latest funding campaigns which might go unnoticed. Alternative means of finance are always available, it’s just a case of awareness across the small business sector.

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