The City of London is involved in a number of organisations and
regeneration partnerships that are providing advice
and guidance to both start-up and established small and medium
sized enterprises. This includes One London (formerly the
London Enterprise Agency) which provides advice and training to
some 5,000 small businesses per year.
The City of London has provided direct funding in support of
SMEs through its contribution to One London’s London
Business Growth Fund . This fund provides loans of up to
£20,000 to small businesses run by people from non-traditional
backgrounds in underdeveloped communities that are unable to raise
finance through normal commercial sources.
In addition, the City of London has provided some £3m venture
capital to the Baring English Growth Fund for small businesses with
growth potential, managed by Greater London Enterprise,
One London’s parent company. A further £5m has been
provided to The Capital Fund, a venture capital fund supported by
the DTI, other London boroughs and private sector funds. The fund
is specifically aimed at London businesses requiring less than
£250,000.
The City of London has purchased a number of properties in the
City fringe and transformed them into accommodation for small
business users. The City of London also manages the London Fruit
and Wool Exchange which has been made available as office space for
small businesses unable to afford rents in the City.
The
City Property Advisory Team facilitates between City of London
departments, the property industry and the end users.