Government launches regional business funds

Date: 15th March 2010

Small businesses in Yorkshire and the Humber could be among those to benefit from new government investment.

Rosie Winterton, minister for regional economic development and co-ordination, recently launched a £90 million venture capital and loan fund, entitled Finance Yorkshire, to boost the area.

"This is the biggest venture capital fund the region has ever seen," she said.

"Alongside other government support measures, this fund will help drive economic growth across Yorkshire and the Humber … by providing finance to hundreds of small and medium-sized businesses and start-ups, helping them to flourish and creating thousands of new jobs."

Ms Winterton also announced the launch of a £3 million programme, which has been created in order for enterprises in the area have better access to Finance Yorkshire and other funds.

"In addition, we need to make sure that companies know about the support available to help them prepare high quality investment propositions, and the £3 million Understanding Finance for Business programme is a great example of how to do this," she added.