Additional funding has been provided for universities in London which is intended to help business insurance holders through the economic downturn.
The Department for Innovation, Universities and Skills has announced that £6.4 million in government money has been given to institutions in the area.
Among the areas this will be spent on are courses for employees on reduced working hours, which aim to develop managerial and financial skills, and placements for graduates with research expertise.
David Lammy, minister of state for higher education, claims that the successful bidders have demonstrated the central role they play for business insurance holders.
He states: "It is particularly encouraging to see that more than 2,000 internships and work placements with universities and local businesses have been approved."
John Wright, national chairman of the Federation of Small Businesses, recently claimed that financial advice is essential for the survival of companies throughout the economic downturn.
Seven to ten firms have contacted the organisation each day seeking guidance and advice, he reports.
