Cash boost for young entrepreneurs
16th January 2013
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An extra £30 million has been poured into the coalition government's start-up loan scheme for young entrepreneurs.
David Cameron recently announced that the amount available in the scheme, which can provide typically £2,500 to budding young entrepreneurs to launch their own business, would rise to £110 million over three years.It has also been announced that the age limit will rise from 24 to 30, allowing a much wider range of potential entrepreneurs to apply. The government insists that the scheme is well on target to issue over 2,500 loans by March.
The Prime Minister told the Huffington Post: "Start-up loans are an important part of my mission to back aspiration, and all those young people who want to work hard and get on in life, so this country competes and thrives in the global race. "They are a great way to help this next generation of entrepreneurs get the financial help - and the confidence - to turn that spark of an idea, into a growing, thriving business. "It is by backing our entrepreneurs and championing small business that we can drive forward and grow the economy, and equip this country for the highly competitive era we are in."
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