Firms using facilities management could benefit from VCT rises
April 23rd 16:50 Cost Management
Small businesses in the UK, including those reducing costs through the use of effective facilities management, could be set to benefit from an increase in the money raised by venture capital trusts (VCTs), according to new figures.
A recently-released report from the Association of Investment Companies (AIC) revealed that the VCT sector raised £340 million during the 2009-10 tax year.
By way of comparison, just £158 million was raised in the previous 12-month period.
Ian Sayers, director general of the AIC, said the money could help "bridge the finance gap" for a number of small businesses.
"This year's impressive fundraising will increase VCTs' capacity to support companies which find it difficult to raise development capital," he said.
"It is particularly valuable given banks' continued reluctance to lend to small businesses. This money will support enterprises across the UK in key growth sectors, help create jobs, develop export markets and increase investment in research and development."
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