|
answer text |
<p>The Department continues to engage regularly both across Whitehall and with business
and industry on the matter of exiting the EU.</p><p> </p><p>Regarding financial support
for business, the British Business Bank already offers a number of programmes and
support mechanisms to small businesses at all stages of their development. British
Business Bank programmes are already supporting more than £5.2bn of finance to nearly
75,000 smaller businesses (as at August 2018).</p><p> </p><p>Through the British Business
Bank’s Enterprise Finance Guarantee programme EFG a lender is enabled to extend credit
to businesses which, while viable, may have insufficient security to otherwise secure
credit lines to support their businesses; this can include revolving facilities, such
as overdrafts, and can be a powerful tool in supporting SMEs needing working capital.</p><p>
</p><p>The British Business Bank also supports a variety of cash flow finance options
through its Investment programme, including unsecured loans to businesses through
alternative providers such as debt funds and peer to peer platforms, and dedicated
cash flow lenders who can advance loans to small businesses secured against their
future income, such as invoices payable or future credit card payments.</p><p> </p><p>Businesses
are encouraged to explore the variety of funding opportunities available to them and
to visit the British Business Bank’s Finance Hub which can direct them to the most
appropriate sources of support: <a href="https://www.british-business-bank.co.uk/finance-hub/"
target="_blank">https://www.british-business-bank.co.uk/finance-hub/</a>.</p><p> </p><p>As
negotiations progress, the Department is working hard to put plans in place that ensure
businesses across the UK can easily access the information they need to properly prepare
for our departure from the EU.</p><p>We will continue to listen to businesses up and
down the country through our regular engagements.</p><p> </p><p>In addition, we will
continue to publish all relevant material on gov.uk. Businesses can register to get
information on the progress of negotiations direct to their inbox by signing up to
the DExEU stakeholder bulletin.</p>
|
|