A review to examine if Government will need to intervene to help small and medium businesses access growth capital will be led by venture capital expert Christopher Rowlands.
The Growth Capital Review is one of the first measures to be taken forward from the Government's 'New Industry, New Jobs' strategic plan for Britain's recovery. The plan focuses on the resources our businesses need to prepare for the upturn and prioritises high growth firms being able to access the financing they need as opportunities emerge in a new, global economy.
The review will determine if any intervention, including a modern-day version of Industrial and Commercial Finance Corporation/3i, is required to ensure small and medium sized firms with good growth potential have access to the capital they need to take advantage of the upturn.
Business Secretary Lord Mandelson said:
"We have taken action to help businesses access short term finance to survive the global downturn, and to build our economic future.
"This review will identify if there is a role for Government in facilitating public and private investment to address gaps in the market.
"Our priority will be to ensure that high-growth businesses, which will be very important for the economy, are able to secure the capital they need."
The review will be supported by an advisory group which will seek views and input from a wide audience, including industry and government. It will report to Business Secretary ahead of the Pre-Budget Report.
Read more: http://nds.coi.gov.uk/Content/Detail.asp?ReleaseID=402586&NewsAreaID=2
www.ukba.co.uk
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