Mon, 10 Jan 2011
Setting up a business in Yorkshire and the Humber may have got easier with a £90 million fund revealed by the government.
The fund, known as Finance Yorkshire, was launched by minister for regional economic development and coordination Rosie Winterton.
As well as the £90 million venture capital and loan fund to help individuals when it comes to setting up a business, a £3 million programme to ensure businesses can access funding was also announced.
This smaller fund is backed by Yorkshire Forward, the region's development agency. It will help organisations become an attractive option for existing funding streams and potential investors.
Commenting on the support, Ms Winterton stated: "The recession has presented significant challenges for many people and businesses in Yorkshire, so I am delighted to formally launch this £90 million new investment fund at such a crucial time in the region's recovery."
It is hoped that businesses in the region will successfully expand, developing talent and opportunities. Hundreds of small and medium-sized companies and start-ups are expected to benefit from the funding.
In turn, thousands of new jobs should be created, something which would prove beneficial to the region.
Ms Winterton added that the £3 million Understanding Finance for Business programme would make sure companies know about the support available to them "to help them prepare high quality investment propositions".
Based on research of a thousand businesses, read more about how nurturing talent amongst your workforce will help you through the current economic climate.
/nurturingtalent
Thanks for your help,
The learndirect team