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<p>Our Industrial Strategy aims to make Britain the best place to start and grow a
business, and a global draw for the most innovative companies. We are already doing
a lot for small and medium sized (SMEs) enterprises in Telford.</p><p> </p><p>Over
14,000 businesses have been supported and 239 people have had help to start a new
business by The Marches Growth Hub which provides support to local SMEs in the area.
Growth Hubs help simplify the business support landscape providing joined up access
to the full range of local and national support programmes (public and private).</p><p>
</p><p>Since November 2014, British Business Bank programmes have facilitated over
£70m to 131 businesses in the constituency of Telford.* This includes 63 Start Up
loans at a value of over £420k. Telford constituency is also part of the Midlands
Engine. A key part of the Government’s strategy for fuelling growth in the region
is the £250m Midlands Engine Investment Fund, which aims to transform the finance
landscape for smaller businesses in the Midlands, accelerate economic growth and promote
job creation. The Fund launched its first wave, £120m of Debt and Small Business funds,
in August 2017.**</p><p> </p><p>Since 2010-11, Innovate UK has also provided over
£345,000 of funding to 8 businesses in the Telford constituency so that they can take
forward their ideas and make them commercially viable.</p><p> </p><p><em>*British
Business Bank received State Aid clearance in November 2014, figures show flow of
finance facilitated from November 2014 date to the end of September 2017 only</em></p><p><em>**
constituency level data on MEIF is not available</em></p>
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