Small businesses are the lifeblood of the UK economy. Supporting enterprise is a vital part of the Government’s long term economic plan and latest figures on Start-Up Loans and the New Enterprise Allowance scheme demonstrate the vitalising impact of this commitment.
Across the UK 30,000 people have benefited from £155 million of finance via the Start-Up Loans scheme. This scheme provides loans and mentoring support to people who want to start their own business. A further 70,000 businesses have also been set up as a result of the New Enterprise Allowance scheme, designed to support benefit claimants with great business ideas get access to the mentoring and seed funding necessary to kick start their business.
East Hampshire has been in receipt of over £150,000 of Start-Up Loans. Since the launch of the scheme in 2012 30 new businesses have been successfully started, and a further 23 have been set up via the New Enterprise Allowance.
Damian said:
“These figures are welcome news for our local economy and community. New businesses create jobs for local people and vitality in our towns. It is great to see schemes like the Start-Up Loans and New Enterprise Allowance helping people realise their ambitions to launch new companies and create opportunity. I look forward to seeing the business community in East Hampshire continue to flourish.”