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Responsible Finance responds to National Audit Office Report on business support
Responsible Finance responds to a National Audit Office that has warned that Government support for business is fragmented, which could make replacing EU development funds more difficult after Brexit.
Now that a pathway to Brexit is confirmed, businesses need stability and certainty during the transitionary period. The NAO report that the business support landscape is fragmented shows that we’re not there yet in terms of stability and certainty, but it presents an opportunity for Government to rethink its programme delivery in a way that works best for businesses, the engine of our economy.
Responsible finance providers are trusted delivery partners of existing British Business Bank programmes, and have successfully delivered millions of pounds of EU funding to businesses across the UK, addressing regional imbalances and supporting the revitalisation of communities. They are an effective and good value for money mechanism of supporting businesses across the UK, and It is vital that they are central to any new scheme the government develops to replace EU funding following the UK’s withdrawal from the bloc.
You can read the full National Audit Office report on their website: https://www.nao.org.uk/report/business-support-schemes/