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£10m funding scheme launched in London

Mayor of London Boris Johnson has announced a £10m fund designed to support London's small businesses and help them overcome the effects of the recession and create jobs.

The London Development Agency and the European Regional Development have provided the £10m of funding equally.

The service is aimed at helping around 4,5000 businesses raise nearly £65m. The funding is to be split between two finance and investment services and is set to build on previous investment programmes that have helped London firms raise nearly £14m.

"London has the people and the spirit of enterprise to pull itself and the UK out of the recession. The role of good government is to support this by ensuring that businesses have access to the good advice and finance that is sometimes hard to find on the open market," said Boris Johnson.

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Post Date: May 25th, 2010