Up to £20 billion financing boost will help small businesses in Brentford and Isleworth

 

The Government has announced plans to help thousands of small and medium-sized businesses get access to affordable finance to help build jobs and grow the economy.

Under the scheme, leading companies will be able to deliver up to £20 billion of new cheaper finance to their suppliers, including many UK SMEs. The Government will also offer this scheme to its own suppliers, starting with the first community pharmacies in England, unlocking up to £800 million of new credit for around 4,500 pharmacy businesses. This news comes in the week, when there was a 1% GDP increase in the last financial quarter, the highest increase since 2007.

Mary Macleod MP said:

“This Government is backing businesses that want to get ahead and create jobs here in Brentford and Isleworth. There are 6,350 small and medium-sized businesses in the local area and the new scheme will help these businesses secure the finance they need to protect jobs and help our economy compete in the global race. The scheme will also mean that 4,500 pharmacies across the country will have access to up to £800 million of finance support right away. This is great news for local residents.”