Mayor announces help for small businesses

The Mayor of London has announced £29million in public money to boost jobs and support 11,000 small businesses in London.

It is hoped 1,100 jobs will be created and another 2,700 saved in small firms feeling the effects of the recession.

TheEuropean Regional Development Fund money will be awarded to 32 projects across the City which aim to help businesses expand.

Mr Johnson said: "These projects are vital to supporting London's businesses. Small businesses are critical to London's success and play a significant role in our economy. More importantly the firms supported through this funding are going to be the springboard to economic growth and prosperity once the upturn arrives."

Projects which have already successfully bid for cash from the LDA include the Heathrow Area Supply Chains which helps more than 250 small and medium-sized firms in West London gain access to major local supply chains.

More at the Evening Standard.

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