The government has announced a series of measures designed to help small businesses grow and access finance.
It has confirmed the Enterprise Finance Guarantee (EFG) will continue for the next four years, making around £2bn available to viable small companies without a credit history or collateral.
Furthermore, an extra £200m is to be injected into Enterprise Capital Funds, supporting equity investments in the highest growth potential businesses over four years.
Chancellor George Osborne says: "Ensuring that viable businesses have access to suitable and diverse sources of finance is crucial for helping to get the economy growing again.
"The government is dedicated to creating the conditions for strong, sustainable growth, by ensuring the UK has competitive, dynamic and efficient markets that provide the right support to business.
"These measures will ensure stable financial conditions for business, a more competitive and transparent banking system and access to a more diverse range of sources of finance that suits their needs."
The government also confirmed it will work with banks in developing the £1.5bn Business Growth Fund.
Earlier today, Lord Young was appointed the government's enterprise tsar, replacing Lord Sugar in the unpaid post.
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