Boris Johnson to launch £10m business scheme

MAYOR of London Boris Johnson will today launch a new £10m funding boost for small and medium-sized businesses in the capital.

The financial advisory service, called “Investment and Finance Readiness” is aimed at helping around 4,500 businesses raise nearly £65m.

The funding is to be split between two finance and investment services and is set to build on similar previous investment programmes that have helped London businesses raise nearly £14m.

The London Development Agency has invested £2.5m in each programme with matched funding from the European Regional Development Fund, making a total of £5m investment per project.

Businesses receiving funding will also be given specialist financial guidance about raising debt or equity.