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Local Enterprise Agencies

Volume 84: debated on Wednesday 30 October 1985

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asked the Paymaster General what progress has been made in encouraging local enterprise agencies to promote equity investment in small firms.

I welcome the initiatives taken by some local enterprise agencies to bring together small companies seeking equity finance and potential investors. The business expansion scheme introduced in the 1983 Finance Act makes this form of investment particularly attractive and local enterprise agencies are ideally placed to operate "marriage broking" services which respond to the interest the scheme has generated. My Department, in conjunction with the Department of Trade and Industry, will be issuing guidance notes to local enterprise agencies to explain the legal considerations which might arise under investor protection legislation and to offer advice to those agencies considering activities in this area. There is considerable scope for local enterprise agencies to encourage equity investment at local level to the mutual

The following information is in the Library. The table shows the requested information in respect of unemployed claimants as at 11 July 1985, the latest date for which an analysis of unemployment by duration is available.benefit of both small companies and investors and I hope that the guidance notes will help them to continue and expand their contribution to this important objective.