Mark Hoban MP highlights importance of SMEs for UK economy at 2011 aim conference

  • Head of AIM expresses support for government’s increase of qualifying limits for VCTs announced in Budget

Today the London Stock Exchange Group hosted its annual AIM Conference at its headquarters in Paternoster Square, London. Keynote speaker, MP Mark Hoban opened the conference, praising the role AIM plays in supporting growing businesses and the UK economy.

Head of AIM, Marcus Stuttard, welcomed the Government’s plans, announced in yesterday’s Budget for the qualifying limits for VCT investment to be increased, leading to greater support for growth companies seeking investment.  

Speaking at today's conference Mark Hoban MP, Financial Secretary to the Treasury said:

"Small and medium sized business enterprises play a vital role in our economy, providing both jobs and services throughout the UK and beyond. As a government, we are committed to supporting SMEs and have launched a range of initiatives including reform of EIS and VCT, funding for new Enterprise Zones and improving access to credit facilities for smaller companies. These and other projects are all designed to drive growth and innovation which will fuel the continued recovery of the UK economy"

Marcus Stuttard, Head of AIM, London Stock Exchange Group, said:

 “The annual AIM Conference has become a key event for growth companies and this year is no exception. AIM is the most successful market in the world for growth companies seeking finance and AIM’s importance as a source of funding has never been more critical. SMEs are at the forefront of UK and European policymakers’ minds as drivers of economic recovery, innovation and growth and today’s conference represents an opportunity to build on the continued success of the international AIM community.

We have been working closely with the Government and European policy makers to find ways of encouraging equity investment in growing businesses and we are delighted at yesterdays increase in qualifying limits for VCT investment to include companies with up to 250 employees and £15 million gross assets.”

The AIM conference is attended by AIM companies, investors and members of the small cap community. Sessions during the day include presentations from Abchurch Communications, Capita Registrars and PricewaterhouseCoopers.

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For further information, please contact:

Lauren Crawley-Moore                                 Press Office +44 (0)20 7797 1222
                                                                 newsroom@londonstockexchange.com

 

Notes to editors:

About London Stock Exchange Group:

London Stock Exchange Group (LSE.L) sits at the heart of the world’s financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, offering pan-European and US lit and dark equity trading. Through its markets, the Group offers international business unrivalled access to Europe’s capital markets.

The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world an extensive range of real-time and reference data products and market-leading post-trade services. 

Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1500 people. Further information on London Stock Exchange Group can be found at www.londonstockexchangegroup.com.