Extra £200 million backing for British business

High-flying firms across the UK will benefit from a further £200 million of government support to ensure that innovative British firms can access the finance they need to grow.The Exchequer Secretary, Robert Jenrick marked the launch of the new funding that will be made available to innovative businesses through funds supported by the British Business Bank. He said ministers were determined to make the UK the best place in the world to start and grow a business. This type of funding has traditionally been sought by fast-growing firms in the science and technology sectors.As the UK leaves the EU and the relationship with the European Investment Fund changes, the government remains committed to ensuring that innovative firms can access the finance they need to grow. The British Business Bank makes finance markets for smaller businesses work more effectively, allowing such firms to prosper and grow – therefore boosting the UK economy.