Home Business NewsBusiness Where and how new business funding was spent in London

Where and how new business funding was spent in London

by LLB Reporter
15th Jun 18 1:30 pm

Find out here

The government lending scheme Start Up Loans, has revealed how new business funding was spent across the UK last year.

Based on official data, Start Up Loans lent £62,861,292 across 20 sectors in 2017. Interestingly, London received the most financial support and got £7.2 million more in investment than the entirety of Scotland.

So which sectors received the most start-up funding?

  • Restaurants in London received £328,533
  • Of the £1.46 million loaned in the travel agency sector, London saw £727,699 of it
  • The growth of other perennial crops saw double the investment in 2017 when compared to the previous year, London alone got £124,000 of the £318,740 invested in this area
  • London borrowed the most money overall in the finance and insurance sector, borrowing a total of £136,500

All this information can be found on the interactive which you can view here: https://www.startuploans.co.uk/business-breakdown/

Cameron Bisset, Digital Content Manager for Start Up Loans commented:

“We back thousands of start-up businesses each year and we wanted to share some of the transformations with the public. The interactive showcases where money is lent, and provides a breakdown of the work we do in enhancing business communities nationwide.

We have supported more than 40,000 businesses with around £250 million in funding, and the guide illustrates the work we do in making businesses a success in key industries.”

How did areas compare to London when it comes to which received the most funding in total?

  • London- £11,977,161
  • South East – £7,963,315
  • West Midlands – £7,963,315
  • North West – £6,460,348
  • South West – £5,276,558
  • Yorkshire and the Humber – £5,109,671
  • Scotland – £4,786,646
  • East of England – £4,186,056
  • North East – £4,072,444
  • Wales – £3,672,190
  • East Midlands – £3,270,311
  • Northern Ireland – £778,690

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