It takes the average reader and 40 minutes to read Department for Business, Innovation and Skills by Great Britain: Parliament: House of Commons: Committee of Public Accounts
Assuming a reading speed of 250 words per minute. Learn more
Since 2000 the Department for Business, Innovation and Skills (the Department) and its predecessors have invested public money, alongside private investors, in a series of funds managed by private sector fund managers. The funds provide support to small businesses unlikely to receive support from other sources. The programme currently comprises 28 funds. By December 2009 taxpayers had contributed £338 million, alongside £438 million from private investors. The Department's intervention in the venture capital market was experimental and risky, yet it did not set clear, prioritised objectives for the funds, including the expected economic benefits, and did not set targets at the outset for expected rates of return. The Department did not begin to properly evaluate the progress of its early funds until late 2008 and, to the concern of the Committee, did not publish any information on the funds until December 2009. The evidence suggests that the funds are underperforming. As at December 2008 the Regional Venture Capital Funds, the largest category of early funds, showed negative returns and the average rate of return was minus 15.7 per cent whilst private European venture capital funds of a similar size had an average rate of return of minus 0.4 per cent. The Department has not done enough to curtail the high costs of managing the funds. Fees for the Regional Venture Capital Funds have totalled £46 million compared to the £130 million invested. Substantial fees have been paid to fund managers even though the performance of the funds has been poor.
Department for Business, Innovation and Skills by Great Britain: Parliament: House of Commons: Committee of Public Accounts is 40 pages long, and a total of 10,000 words.
This makes it 13% the length of the average book. It also has 12% more words than the average book.
The average oral reading speed is 183 words per minute. This means it takes and 54 minutes to read Department for Business, Innovation and Skills aloud.
Department for Business, Innovation and Skills is suitable for students ages 8 and up.
Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.
When deciding what to show young students always use your best judgement and consult a professional.
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