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Young business hopefuls given boost with new lending scheme
Budding painters and decorators could soon get some cash to help them set up their own company, as the Government has announced a new £82m loan scheme for young business hopefuls.
David Cameron launched the initiative, called StartUp Britain, last week. The scheme will give loans of around £2,500 to 18-24 year olds who have plans to launch a business - ideal for aspiring painters and decorators looking to start out in the industry. It will also offer young entrepreneurs access to valuable advice and support from mentors.
It's hoped that the money, which will be paid back at the level of the Retail Price Index plus three per cent, over five years, will act as early-stage funding to help 30,000 new businesses get up and running across the country.
Commenting, Cameron said: "I want this to be the year where people can think yes, I can do it, that we can get as many viable businesses as possible off the ground, that people can have a go, and that we see a whole new wave of entrepreneurs who start small but think big."
To learn more, see: www.startupbritain.org
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