Capital For Enterprise
Capital for Enterprise Limited (CfEL) was a limited company in the United Kingdom owned by the Department for Business, Innovation and Skills (BIS). CfEL was responsible for managing BIS's financial schemes, such as venture capital funds and loan guarantees, aimed at helping small and medium enterprises (SMEs). It invested over £1.8 billion from its formation and alongside private capital provided £6.5 billion in credit for SMEs. It ceased operating independently on 1 October 2013 and became part of the British Business Bank. History Foundation CfEL commenced actively trading on 1 April 2008 when it took over responsibility for the management of BIS's Enterprise Capital Funds, along with other equity funds and the Small Firms Loan Guarantee. Restructure and closure In September 2012 the Secretary of State for Business, Innovation and Skills, Vince Cable, announced that the government would be creating a business bank to aid the growth of SMEs. The intention was for the ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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State-owned Enterprise
A state-owned enterprise (SOE) is a business entity created or owned by a national or local government, either through an executive order or legislation. SOEs aim to generate profit for the government, prevent private sector monopolies, provide goods at lower prices, implement government policies, or serve remote areas where private businesses are scarce. The government typically holds full or majority ownership and oversees operations. SOEs have a distinct legal structure, with financial and developmental goals, like making services more accessible while earning profit (such as a state railway). They can be considered as government-affiliated entities designed to meet commercial and state capitalist objectives. Terminology The terminology around the term state-owned enterprise is murky. All three words in the term are challenged and subject to interpretation. First, it is debatable what the term "state" implies (e.g., it is unclear whether municipally owned corporations and ente ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Enterprise Capital Fund
Enterprise Capital Fund is a British government financial programme that provides venture capital funding to Start-up companies that is operated by the British Business Bank. It was established in 2006 by the UK governments Department for Business, Innovation and Skills (BIS) in the United Kingdom to address a market weakness in the provision of equity finance to UKs small and medium enterprises (SMEs). Government funding is used alongside private sector funds to establish funds that operate within the "equity gap"; targeting investments of up to £5 million that have the potential to provide a good commercial return. History The first five funds supported under the scheme were launched in 2006-7 following a pathfinder competition. A further three funds were awarded ECF status in 2007. As of 1 April 2008, responsibility for the management of ECFs along with BIS's other equity funds and the Small Firms Loan Guarantee (SFLG) was transferred to a new body, Capital for Enterpri ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Defunct Public Bodies Of The United Kingdom
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Defunct may refer to: * ''Defunct'' (video game), 2014 * Zombie process or defunct process, in Unix-like operating systems See also * * :Former entities * End-of-life product * Obsolescence Obsolescence is the process of becoming antiquated, out of date, old-fashioned, no longer in general use, or no longer useful, or the condition of being in such a state. When used in a biological sense, it means imperfect or rudimentary when comp ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Regional Development Agency
In the United Kingdom, regional development agencies (RDAs) were nine non-departmental public body, non-departmental public bodies established for the purpose of development, primarily economic, of England's Government Offices for the English Regions, Government Office regions between 1998 and 2010. There was one RDA for each of the Nomenclature of Territorial Units for Statistics, NUTS level 1 regions of England. Similar activities were carried out in Wales by the Welsh Government Department of Economy and Transport, in Northern Ireland by the Department of Enterprise, Trade and Investment and in Scotland by Scottish Enterprise and Highlands and Islands Enterprise. In June 2010 the UK government announced the abolition of the RDAs which took place on 31 March 2012, with a view to reducing the government deficit; similar economic development would be undertaken by local councils and local enterprise partnerships (LEPs). [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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European Investment Bank
The European Investment Bank (EIB) is the European Union's investment bank and is owned by the 27 member states. It is the largest multilateral financial institution in the world. The EIB finances and invests both through equity and debt solutions companies and projects that achieve the policy aims of the European Union through loans, equity and guarantees. The EIB focuses on the areas of climate, environment, small and medium-sized enterprises (SMEs), development, cohesion and infrastructure. It has played a large role in providing finance during crises including the 2008 financial crisis and the COVID-19 pandemic. Over 60 years since its inception in 1958 to 2018 the EIB has invested over 1.1 trillion euros. It primarily funds projects that "cannot be entirely financed by the various means available in the individual Member States". The EIB is one of the biggest financiers of Sustainable finance, green finance in the world. In 2007, the EIB became the first institution in ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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European Regional Development Fund
The European Regional Development Fund (ERDF) is one of the European Structural and Investment Funds allocated by the European Union. Its purpose is to transfer money from richer regions (not countries), and invest it in the infrastructure and services of underdeveloped regions. This will allow those regions to start attracting private sector investments, and create jobs on their own. History During the 1960s, the European Commission occasionally tried to establish a regional fund, but only Italy ever supported it. Britain made it an issue for its accession in 1973, and pushed for its creation at the 1972 summit in Paris. Britain was going to be a large contributor to the CAP and the EEC budget, and sought to offset this deficit by having the ERDF established. They would then be able to show their public some tangible benefits of EEC membership. The ERDF was set to be running by 1973, but the 1973 oil crisis delayed it, and it was only established in 1975 under considerable Brit ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Enterprise Finance Guarantee
The Enterprise Finance Guarantee (EFG) is a UK government-guaranteed lending scheme intended to help smaller viable businesses who may be struggling to secure finance, by facilitating bank loans of between £1,000 and £1 million. It is intended to enable banks to lend to viable small businesses who are unable to provide the security that the bank would otherwise require. The government announced the launch of the Enterprise Finance Guarantee Scheme (EFG) in November 2008 to provide targeted intervention for viable SMEs, close to the margins on risk, who could not access debt finance during times of tight credit conditions. EFG replaced the previous Small Firms Loan Guarantee scheme. Under the scheme, the decision on whether or not to lend rests solely with the participating bank. The Government meets some of the bad debt costs incurred by the lender on the scheme loans. The borrower pays interest and fees to the participating bank on normal commercial terms; and in additio ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Vince Cable
Sir John Vincent Cable (born 9 May 1943) is a British politician who was Leader of the Liberal Democrats from 2017 to 2019. He was Member of Parliament (United Kingdom), Member of Parliament (MP) for Twickenham (UK Parliament constituency), Twickenham from 1997 to 2015 and from 2017 to 2019. He also served in the Cabinet of the United Kingdom, Cabinet as Secretary of State for Business, Innovation and Skills and President of the Board of Trade from 2010 to 2015. Cable studied natural science and economics at University of Cambridge, Cambridge, and after graduation was an ODI Fellow working as a finance officer in the Kenya Treasury under President Jomo Kenyatta. He then lectured in economics at Glasgow University and obtained a PhD studying part-time. He worked in the Diplomatic Service; directed research at the ODI; was a Special Adviser to the Commonwealth Secretary-General; headed the international economics programme at Chatham House; and worked for Shell Group Planning, beco ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Secretary Of State For Business, Innovation And Skills , with responsibility for the Department for Business and Trade. The incumbent is a member of the Cabinet of the United Kingdom.
The incumbent business secretary is Jonathan Reynolds who was appointed by Keir Starmer on 5 July 2024.
The Secretary of State is shadowed by the Shadow Secretary of State for Business and Trade, currently Andrew Griffith since 2024.
The secretary of state for business and trade (business secretary), is a secretary of state in the Government of the United Kingdom His Majesty's Government, abbreviated to HM Government or otherwise UK Government, is the central government, central executive authority of the United Kingdom of Great Britain and Northern Ireland. Responsibilities Corresponding to what is generally known as a Commerce Minister, commerce minister in many other countries, the business secretary's remit includes: * Relations with domestic and interna ...[...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Small Firms Loan Guarantee
The Small Firms Loan Guarantee (SFLG) was a UK government loan support scheme for small businesses that ran from 1981 to January 2009. Under the scheme, participating banks could lend up to a maximum of £250,000 to eligible UK companies trading less than five years with a turnover of less than £5.6 million, and have 75% of the loss at default met by the government. The SFLG was replaced by the Enterprise Finance Guarantee (EFG) on 14 January 2009. See also *Enterprise Finance Guarantee The Enterprise Finance Guarantee (EFG) is a UK government-guaranteed lending scheme intended to help smaller viable businesses who may be struggling to secure finance, by facilitating bank loans of between £1,000 and £1 million. It is intended ... References {{Reflist Economic history of the United Kingdom Financial history of the United Kingdom ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Small And Medium Enterprises
Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by many national agencies and international organizations such as the World Bank, the OECD, European Union, the United Nations, and the World Trade Organization (WTO). In any given national economy, SMEs outnumber large companies by a wide margin and also employ many more people. On a global scale, SMEs make up 90% of all companies and more than 50% of all employment. For example, in the EU, 99% of all businesses are SMEs. Australian SMEs makeup 98% of all Australian businesses, produce one-third of the total GDP (gross domestic product) and employ 4.7 million people. In Chile, in the commercial year 2014, 98.5% of the firms were classified as SMEs. In Tunisia, the self-employed workers alone account for about 28% of the total non-farm employment, and firms with fewer than 100 employees acco ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Financial Services
Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns financial management and consumer finance. The finance industry in its most common sense concerns commercial banks that provide market liquidity, derivative (finance), risk instruments, and broker, brokerage for large public company, public companies and multinational corporations at a macroeconomics, macroeconomic scale that impacts domestic politics and foreign relations. The extragovernmental power and scale of the finance industry remains an ongoing controversy in many industrialized Western economies, as seen in the American Occupy Wall Street civil protest movement of 2011. Styles of financial institution include credit union, bank, savings and loan association, trust company, building society, brokerage firm, payment processor, many ty ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |