Companies working out of serviced offices in Northampton may be eligible to receive investments from a new initiative.
The Buisness Growth Fund, which aims to encourage private sector growth, was launched in Birmingham today (May 19th) by business secretary Vince Cable and leading figures from the banking industry.
This fund has £2.5 billion to invest in small and medium-sized enterprises with annual turnovers between £10 million and £100 million, in return for a ten per cent equity stake and a seat on the board.
David Frost, director general of the British Chambers of Commerce, welcomed this fund, saying it will improve Britain's business environment and could prove very beneficial if it succeeds.
"Without clear lending processes and more sensible decision-making at a local level, many businesses will still be reluctant to ask for loans," he explained.
He concluded by saying that he hopes for cooperation between trade bodies, politicians and banks to ensure the relationship between lenders and businesses improves and targets are met.
