Thousands more young people could benefit from government loans which aim to turn their business ideas into reality. The 'Start-Up loans scheme' is being boosted by £30 million to £110 million over three years.
With our economy flat-lining it’s essential that initiatives like the Start-Up loans scheme are delivered effectively if they are to provide real opportunities for our young entrepreneurs.
That’s why it was disappointing that figures released at the end of last year suggested delivery of this scheme, like so many others from this Government, was not living up to David Cameron’s rhetoric.
As Ed Miliband said in his New Year message, building a One Nation economy means supporting the small businesses and entrepreneurs that have been let down by this out of touch Tory-led Government.
– Chuka Umunna MP, Labour’s Shadow Business Secretary
There has been a major shift in the way business is viewed by the public, and entrepreneurs are now seen as creative and exciting role models; and I am delighted to see that more and more young people are now looking to set up their own business.
It is only with this renewed focus on youth entrepreneurship, that we will create more jobs and wealth and see the economy flourish once again.
Start-Up Loans enable young people to harness their skills, and gives each budding entrepreneur not just a low interest loan, but also the help and support from an experienced mentor to guide them to success.
– James Caan, Chairman of the Start-Up loan scheme