NEWS & EVENTS
National News
£100 million for New Enterprise Capital Funds
As part of the launch of the launch of Enterprise Week, which promotes and celebrates an enterprise culture and instils in young people the aspiration to succeed as entrepreneurs, the Government has announced that it is opened a second round of bidding for the management of two new Enterprise Capital Funds (ECFs). Enterprise Capital Funds are a government initiative to provide finance and investment for small and medium sized companies with high growth potential. The aim is to stimulate economic growth by providing access to investment for companies that may lack access to finance from more traditional sources. The competition for second round ECFs will run through 2007 with two closing dates. To be considered in the first closing date, prospective ECF fund managers have until the end of February to prepare their bids in accordance with the guidance published on the SBS website. Bidders need to demonstrate how their proposal will target small and medium sized businesses in the equity gap.
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