With the Brexit vote months behind us, the UK government continues to look for ways to keep small and medium businesses (SMEs) growing. Margo James, the Small Business Minister, recently “announced the creation of a the British Business Bank’s 21st Enterprise Capital Fund, to be run by Active PE. The fund is aimed at helping Local Enterprise Partnerships, cities and growth hubs deliver economic growth in their local areas.”
The government owned British Business Bank currently aids more the 48,000 UK businesses lending over €3 billion in support. In connecting with Active PE, the British Business Bank will now “provide £24 million of the fund’s £40m investment capacity.”
As this website has constantly preached, investing in small businesses will always lead to a nation’s growth. The key with this new fund is to invest in SMEs exclusively. Apparently the fund will focus on consumer, leisure and retail businesses in the UK with high potential growth rates. Whatever the case, a big win for small businesses in the country and a great idea adding additional capital options led by a private entity who specializes in growing businesses.