– John Walker, national chairman of the Federation of Small Businesses
Finance continues to be hard to get for people that want to set up a business, so it is good news that more funding is now available to more people.
However, in some cases £2,500 may not get a business very far so we would call for a more flexible approach where a start-up could apply for more if needed.
We also believe that delivery of this finance should be through the business bank once it is established so that all Government finance initiatives are housed under one roof.
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.