According to recent research, 47 percent of UK small business owners have injected personal cash in the company to keep it running, with 13 percent having to remortgage their family homes. The average amount of personal cash used to bale out their business is £20,400, and 27 percent of small company owners have borrowed from friends and family. A quarter have used personal credit cards to pay for business overheads, and 22 percent have taken out a personal bank loan. Related Posts:New funding for East London digital businesses

 An extra £1million of investment is being offered to digital businesses in East London as part of a government backed initiative to encourage greater collaboration between businesses in the area. The funding is being made available by the Technology Strategy Board, a government run agency which aims to increase economic growth by supporting technology development in UK businesses. The move has doubled the funding which was already being made available through the agency’s Tech City Launchpad initiative, which offered grants of £100,000 to innovative and creative businesses in the region. When the initiative launched in April this year it received 200 applicants. This funding will enable 20 of those applicants to develop their ideas further. Related Posts:Half of small business[…]