By Marcus Leach

Business and Enterprise Minister Mark Prisk today (Friday) announced the appointment of Lucy Armstrong as the new chair of Capital for Enterprise Limited (CfEL).

Capital for Enterprise Limited is the company which advises the Government on the design, implementation and management of finance measures to support small and medium sized enterprises (SMEs) across the UK. It manages programmes that provide around £4 billion in finance to SMEs.

“I am pleased to announce Lucy Armstrong as the new chair of Capital for Enterprise Limited. She brings a breadth of experience from working directly with high growth small companies, business angels and regional funds," Business and Enterprise Minister Mark Prisk said.

“The finance programmes managed by Capital for Enterprise Limited are vital for supporting new and growing small businesses across the UK, and Lucy’s expertise and insight will ensure these programmes continue to be successful.”

Lucy Armstrong is chief executive of The Alchemists, a company that matches up experienced, successful entrepreneurs with high growth medium sized business to accelerate their growth. She will serve as the non-executive chair of Capital for Enterprise Limited from 1 April 2012 initially until 31 March 2015.

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