Companies: Finance
The question
To ask the Secretary of State for Business and Trade, what assessment his Department has made of the potential impact of limited capital access on scale-up firms outside of (a) London and (b) the South East.
Answered by Gareth Thomas
Businesses in shallower finance markets outside London and the South East are less likely to be able to access growth capital, meaning high-potential businesses may be forced to relocate or else accept slower growth. The British Business Bank’s Nations and Regions Investment Funds help close the gap by providing finance for businesses to invest and grow across the UK, meaning the growth and jobs created by businesses benefit local communities. In the longer term, the Funds will create more dynamic ecosystems made up of investment-savvy business owners and private investors who know there are good investment propositions available.
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