Government proposes new fund for start-ups
The government is planning to set up a national investment fund to help fledgling UK businesses compete with their US counterparts. The Treasury said a consultation had identified a £4bn funding gap between US and British firms, as well as highlighting that British businesses currently rely on financial backing from the European Investment Fund. "Britain is an innovation powerhouse and it"s vital that we make sure our cutting-edge firms have the funding they need to meet their potential and conquer new markets," said Philip Hammond.
Source: The Independent (01/08/2017)