Government industry aid

Time 6:46 am, January 6, 2009

Government aid for auto industryMOTORSPORT body the MIA has secured Government financial aid – news that is key to car dealers, too.

MP Ian Pearson has written to the MIA chief, Chris Aylett, to say that the Department for Business Enterprise & Regulatory Reform – the BERR – will offer support to the UK’s motorsport industry.

The packages he set out in a letter, of which Car Dealer has seen a copy, spell out schemes that will offer assistance to car dealers as well.

‘While support, under any of these schemes, cannot be guaranteed,’ said Pearson, ‘please encourage your suppliers to consider carefully whether they are relevant to their business.’

He also urged businesses to ‘make the most of any opportunities that might be available’.

The schemes he outlined include:
•    Small Business Finance Scheme
•    £1 billion guarantee facility
•    £50 million fund to convert business’s debt into equity
•    £25 million regional loan transition fund
•    Free business health check through Business Link.
•    Free training through Train to Gain initiative
•    15 billion Euro loans to small and medium sized businesses from the European Investment Bank
•    8 billion Euro investment in clean green cars – still to be finalised

‘We acted as fast as we could to link with Government to secure a range of support for motorsport businesses in the UK,’ said MIA CEO, Chris Aylett.

‘We will ensure that our vital sector, and MIA members, are not overlooked by any support being made available. The initial range of support is covered in the documents supplied to us by the Minister.’

Car Dealer has seen these documents, too. Follow the links below to see what Government assistance may be available to your business.


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