Thursday, 12 September 2013

£69m to support business creation

A total of £69m is to be provided to support the creation of new businesses by the government.
The package includes £34m for Start-Up Loans to support around 7,600 businesses.


So far more than 35,000 entrepreneurs have formally registered an interest in loan through the scheme with almost 8,000 start-ups helped.
The Start-Up Loan scheme typically provides a loan of about £4,500 to help get business ideas off the ground.
Previously only available in England and Northern Ireland it will also be rolled out for Wales and Scotland.
Funding will also be provided to provide business mentoring and cash for unemployed people to start a company. The New Enterprise Allowance will be extended for new starters until the end of 2015 and provide an additional 60,000 mentoring places.
The scheme has helped to create more than 26,000 businesses so far.
Prime Minister David Cameron said: "I am determined to do all I can to support the British economy and that includes helping small businesses and budding entrepreneurs to get on. In the last two years we have helped tens of thousands of people to turn their ideas into a viable business, and this additional support will help thousands more.
"My message is simple: if you have drive, determination and are prepared to work hard, we will back you."

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