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London's young entrepreneurs could get Dragons Den-style loans from the government to help them start a business.
The Prime Minister David Cameron has today announced £30million is being put into a scheme for start-up loans.
The average loan will be around £2,500. But will it be enough?
Ria Chatterjee reports.
The £30 million boost to the Government's start-up loans scheme will give the next generation of entrepreneurs the finance and support to start their own business, helping Britain to get ahead in the global race.
The additional money will boost the total pot for start-up loans to over £110 million over the next three years, potentially helping to start tens of thousands of new businesses.
The Prime Minister also announced that due to demand from those who had just missed out on the scheme, and the challenges faced to secure loans to start a business, the age limit for application will now be extended from 24 to 30 years old.
David Cameron has announced a £30m boost to the start-up loans scheme, bringing the fund to £110m. London entrepreneurs have benefited the most, with 34% of them going to people in the capital.