The Government has announced plans to help thousands of small and medium-sized businesses get access to affordable finance to help build jobs and grow the economy.
Under the scheme, leading companies will be able to deliver up to £20 billion of new cheaper finance to their suppliers, including many UK SMEs.
The Government will also offer thi scheme to its own suppliers, starting with the first community pharmacies in England, unlocking up to £800 million of new credit for around 4,500 pharmacy businesses.
Stephen Metcalfe said: “This Government is backing businesses that want to get ahead and build jobs here in Basildon & Thurrock. This year, there are over 460,000 small and medium-sized businesses in the East of England, an increase of nearly 34,000 since last year. This new scheme will help these businesses secure the finance they need to protect jobs and help our economy compete in the global race.
“The scheme will mean that 4,500 pharmacies across the country will have access to up to £800 million of finance support right away. This is great news for the people of South Essex.”
