John Baron MP encourages business entrepreneurship

MP highlights extra £30 million investment in Start-Up Loans

The Government has announced a £30 million boost to Start-Up Loans to create thousands of new businesses and help young people find jobs. The announcement brings the total pot for Start-Up Loans to more than £110 million over the next three years, and will see the age range extended to 30 years old. Figures show that in the first three months of the scheme alone, over £1.5 million worth of loans have been approved, helping nearly 500 new businesses get off the ground. The Southeast has received 19% of the total loans which have been awarded so far.

John said,

“This £30 million boost could make a difference to young people in Basildon and Billericay who have always aspired to own their own business, thereby helping new companies get started and bringing much-needed jobs and growth to the local economy.”

“I would encourage any budding entrepreneur to apply for a Start-Up loan to get their business ideas going.”

James Caan, Chair of the Start-Up Loans Company said:

“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.”

Notes to Editors:

• The total pot for start-up loans is now more than £110 million. The first wave of cash started being distributed in September 2012. Start-Up Loans provide entrepreneurs between the ages of 18-30 with a range of support, including access to a business mentor and capital, in the region of £2,500, to help get their business idea moving.

• James Caan, Chair of the Start-Up Loans Company also said:

“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. I am proud to chair the Start-Up Loans Company, responsible for delivering this excellent initiative.”

• For more information, see http://www.startuploans.co.uk/.