3. £1.25 billion government support package for businesses
A new support package has been launched to protect firms driving innovation in UK. The package includes a new £500 million loan scheme for high-growth firms, called the Future Fund, and £750 million of targeted support for small and medium sized businesses focusing on research and development.
The £500 million Future Fund, delivered in partnership with the British Business Bank and launching in May, will provide UK-based companies with between £125,000 and £5 million from the government, with private investors at least matching the government commitment.
The £750 million of targeted support for the most R&D intensive small and medium size firms will be available through Innovate UK’s grants and loan scheme.
Future fund: https://www.gov.uk/guidance/future-fund