28 February 2003                 For Further Information contact: 
                                      David Davis
                                      Phone: 020 8558 1160
                                      email: david@2-small-bisiness.com




£1 million fund to aid inner city businesses



A £1 million pound fund to help entrepreneurs in deprived parts
of London is being launched today.



Aimed at supporting enterprise in the capital, The Inner City
Entrepreneurs Fund will enable entrepreneurs to get up to £10,000
towards the cost of developing their business and managerial
skills.




Launched by the London Development Agency and the New Economics
Foundation think-tank, the fund seeks to increase competitiveness
in London by supporting activities such as mentoring, networking
projects or staff training.

Michael Ward, chief executive of the London Development Agency 
said: "We are working hard to regenerate London's inner-city
areas by helping improve the performance of local businesses,
creating local jobs in the process".





The Inner City 100, a New Economics Foundation project that
ranks the fastest growing inner-city enterprises in deprived
areas, will operate the fund. Companies that want to apply to
the fund must have been running for five years, employ at least 
five people and be able to show that they are socially and 
environmentally responsible.




For more information on how small businesses can take advantage
of grants from EC, the Government, Local Authorities, Regional
Development Agencies and loans from the Loans Guarantee Scheme,
visit www.2-small-business.com






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