Posts Tagged 'BIS'

Global 1st For Green Investment Bank

I understand the worlds first Green Investment Bank has just been launched by Vince Cable.  The bank has made its first investment in an anaerobic digestion plant on Tees-side and is looking to follow this up using £3bn of funding under it’s belt.

Said Vince Cable, “The Green Investment Bank has the potential to be a game-changing component of the UK’s low carbon economy, and a profitable centre of excellence in specialist and renewable investment.”

Click here to find out more


SME Supply Chain Payment Update

Following my recent blog on the subject of HMG taking action to help SMEs in their problem with slow payment from customers.  I am grateful to Karl Barker of Taurus Collections who, in discussing a similar topic on LinkedIn provided a very useful link to the BIS document advising SMEs on combating late payment.

Sc: Taurus Collections; MGBA; UKBA

£1bn for Regional Growth Fund, Clegg

Deputy Prime Minister Nick Clegg has announced how a flagship government scheme is to spend £1 billion in a bid to boost economic growth in England.

The Government says the investment will help manufacturing firms, small businesses and local partnerships across England to expand their operations, create new jobs and stimulate growth.

Planned to safeguard or develop 240k jobs and working in parallel with the new Local Enterprise Partnerships, the Regional Growth Fund will operate across England from 2011 to 2015, providing support for private sector and public/private projects that offer significant potential for sustainable economic growth and job creation.

The allocation of £1 billion to the latest round of Regional Growth Fund spending was announced by Chancellor George Osborne in the 2011 Autumn Statement.

Sc: HMG BIS; j4b

If you would like more information on this topic please complete the comment box below or email me

Looking To Export? Read On..

The Dept for Business working with UK Trade and Investment is investing £13m in helping SMEs to build their export sales.  The fund is aimed specifically to help ambitious SME’s attend trade shows abroad; win overseas by helping them with the cost of travel to shows and overseas trade missions.

Interested? Click here for more information.  Alternatively complete the comment box or drop me an email to where I can provide information about a number of funding initiatives currently available.


Start Up Loans for Young Entrepeneurs

A BIS scheme to offer business loans has just been launched to entrepreneurs aged  between 18 – 24. Vince Cable has launched a scheme offering up to £2500 in start up loans as well as professional mentoring support.  Cable believes it’s not just about the money but the professional guidance to help ensure successful businesses.

If you would like to know more about this scheme drop me an email to or comment on this blog.


Business Link Closure – They Must Have Been Listening

In my blog last week I discussed HMG business advice websites and asked what real benefit they actually provided.  Indeed a leading business group had found that fewer of us SMEs were accessing them presumably because we found the information therein to be irrelevant.

Well I must have been clairvoyant because it has just been announced that the Business Link website is to be closed.  Any relevant content is to be merged with and re-branded as on 17th October providing details of government services and information for business.

Well I hate to be the one to say I told you so but how the mandarins BIS believe they have any understanding of what it means to be in business is completely beyond me.



Online Government Advice Sites – Any Use?

Are you using government support services such as Mentorsme and Business Link?  Apparently not, says BIS.  New government Business Barometer research is saying that only a fraction of SMEs are using these services.  BIS have found that awareness of these services is very low and usage figures are as low as 1%.

So have you used these services?  If so what did you think of them?  Frankly I have never heard of Mentorsme and I thought BIS had closed Business Link.  Obviously I was wrong. But let me know what you think.  Add a comment below.



Plans To Simplify Staff Dismissals

The BBC are reporting that new plans to allow employers to dismiss staff using a settlement agreement have been announced by Business Secretary Vince Cable.

The proposal is to provide employers and employees with an alternative to employment tribunals to solve workplace problems. British Chambers of Commerce (BCC) and the Confederation of British Industry (CBI) have both welcomed the plans saying they would give businesses confidence and simplify the dismissal process.

However, shadow business secretary Chuka Umunna said the move could undermine employee rights and might be counter-productive in terms of growth.

More Information:


EEFG Has Helped 5 Firms. Not A Good Record

According to The Guardian, the much maligned Export Enterprise Finance Guarantee (EEFG) scheme has been heavily criticised for helping a mere five firms since it opened last April. It was designed to help small businesses secure loans by providing lenders with a guarantee for 60% of the loan, while the firm pays 3% upfront.

Shadow Business Secretary Chuka Umunna said it was worrying that the EEFG had been taken up by so few firms. This criticism follows a recent review of the Regional Growth Fund by the National Audit Office (NAO), which revealed that relatively few jobs had been created for the sums invested in projects.

Scource: The Guardian

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BIS Launches High Growth Scheme

The Department for Business (BIS) has launched a£200 million scheme to support high-growth businesses in England.  The Growth Accelerator scheme will provide coaching for businesses to identify and tackle problems such as securing finance, commercialising innovation and developing leadership. Under the scheme, firms will be fast tracked to receive business advice from providers such as UK Trade and Investment (UKTI) and angel investors. Business Secretary Vince Cable commented: “With targeted support we are giving entrepreneurs a fantastic opportunity to take their businesses forward to succeed both here and abroad.”


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