FPB: Regional growth funds can only be a good thing

Date: 1st July 2010

The coalition government's new £1 billion regional growth funds can "only be a good thing".

This is the view of the Forum of Private Businesses (FPB), which has welcomed the support and money that small businesses will now receive to develop their ideas.

However, Chris Gorman, a spokesperson for the FPB, said businesses will not find it so tough to focus on private sector work now the government has announced plans to reduce public sector spending.

"I think there are very few who rely solely on public sector work. Some might rely on it quite heavily, but I think they have all got experience of both sides of the coin," he said.

"Whichever way you look at it, drawing vast amounts of money from the economy is going to affect businesses one way or the other. I think everyone will feel the pain to some extent, even if you are a business who doesn't do any public sector work whatsoever."

The fund, which will be operated in the financial years 2011-12 and 2012-13, is intended to help areas that are particularly affected by the public sector cuts.

Posted by Thomas Fletcher