Published: 5th Jun 2019

Small businesses who have had difficulties securing investment will share £100m of a ‘first of its kind’ fund, the Mayor of London Sadiq Khan has announced. The Greater London Investment Fund will be available to businesses in the cultural and creative industries, financial and business services, life sciences, low carbon and environmental goods and services, tech and digital, and tourism sectors. As well as investing in 170 companies, the fund will secure at least another £103m in private sector investment and create 3,500 new jobs in the capital. While London has a world-leading financial ecosystem, some small and medium-sized enterprises (SMEs) struggle to access the funding they need to grow as lenders often tend to focus on larger companies with a more established credit history. The funding will come from a number of sources: £35m of European Regional Development Fund; £50m from the European Investment Bank; £7m from the London Waste … (To read the full article, subscribe below)