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SMEs in need of £1bn funding

Posted on Wednesday Oct 28 0:00:00 UTC 2009

Listed under: in the news

Government for £1bn or more is what is needed for finance for business growth for SME’s This according to leading venture capital figures.

When he spoke to the Western Mail earlier Cardiff born Mr Rowlands said it was clear that some form of government intervention would be needed to provide new growth lines for SMEs looking to expand. He said: “I think it has got to be in the order of at least £1bn as an initial fund.”

He then added: “You have to be absolutely clear that this is a difficult fundraising market, full stop, but I think the underlying nature and characteristics around the sort of SME portfolio it would create should be attractive.

“Secondly I think the scale should also be attractive. If we were just raising another £100m as it would just not be big enough?”

Full story found at Wales Online

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