Mitie's £10m fund for entrepreneurs

Outsourcing and contract maintenance specialist Mitie has launched a £10m "entrepreneurial fund" in a bid to create more mutually owned businesses across the UK.

The firm, which has a long history of partnering with management teams to start up companies, said the fund would be open to "dynamic" teams with a viable business plan. It will provide support in the way of management expertise, back office and administrative infrastructure. Mitie, which is planning a series of follow-up funds, said: "We are passionate about providing opportunities for people to develop their careers."