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Extended Loans Schemes for New Businesses

Written By On 15/09/2013

The government has just provided some extra funding to help budding British entrepreneurs to get started using the Start-Up Loans and New Enterprise Allowance schemes. The prime minister believes this will boost the UK economy by creating more jobs.

The government will be making sixty nine million pounds available in order to produce thousands more new start up companies. This will add to more than thirty thousand they have already helped to start within the last two years.

The extra support will try and keep the impetus ongoing by giving business training and guidance alongside the funding required to the unemployed wishing to create a new company.

The New Enterprise Allowance for beginners has already produced over twenty six thousand start ups. This scheme was started two years ago to help people who are on benefits and was originally due to expire this month. It will now be lengthened until the end of next year allowing a further sixty thousand positions for potential applicants. You can find out more details at New Enterprise Allowance

The Start-Up Loan scheme has already funded almost eight thousand new businesses with another thirty four million pounds made available for the same amount again. An average loan is about four and a half thousand pounds. Approximately thirty five thousand potential applicants have recorded their interest thus far. It is especially targeted for the over thirties and ex-Service personnel. You can get more information at Start-Up Loans

David Cameron declared to UK entrepreneurs earlier in the week

I am determined to do all I can to support the British economy and that includes helping small businesses and budding entrepreneurs to get on. In the last two years we have helped tens of thousands of people to turn their ideas into a viable business, and this additional support will help thousands more. My message is simple... if you have drive, determination and are prepared to work hard, we will back you.