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Treasury prepares start-up support

Funding, Investment

The Treasury is said to be considering a rescue package for start-ups that could see joint investment with private backers in a bid to ease pressures brought about by the COVID-19 outbreak. The mooted plans could also involve increased support from the British Business Bank, with the Chancellor likely to use the Government-owned development lender to deploy public money. Philip Salter, founder of the Entrepreneurs Network, has warned that many start-ups’ business models of investing for growth mean they don’t qualify for state-backed loans from banks, adding a warning that “investment deals are falling apart, extreme write-downs are taking place, and early-stage funding is drying up.”

 

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