Small Business Minister Nigel Griffiths today announced a series of new projects to help small businesses with high-growth potential maximise the financing opportunities available by providing them with access to high quality management and financial expertise.
Following the Chancellor of the Exchequer's Budget announcement that the Government wants to improve the effective demand for risk capital, Mr Griffiths announced that the pilot 'investment readiness demonstration projects' will be backed by over Ј1 million of Small Business Service funding.
The pilot projects will:
seek out dynamic small businesses with high-growth potential;
educate business owners about the types and sources of private sector funding available to them; and
groom a proportion of these businesses to ensure they are 'investment ready' and best prepared to present their proposals to potential investors.
The projects will be run by:
