Government unveils £69m business support package

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The government has announced plans to help small to medium-sized enterprises (SMEs) and start-up businesses with a new £69 million support package.

Over 30,000 new firms have already been created with support from government schemes over the last two years, with this latest initiative looking to build on the success.

The Start-Up Loan scheme – which helps entrepreneurs get their ideas off the ground with a loan of up to £4,500 as well as mentoring support – is now also being rolled out to Scotland and Wales.

Similarly the New Enterprise Allowance is being extended for a further 15 months to December 2014 after originally being due to finish at the end of September. 

Government statistics show this has helped set up around 2,000 new businesses every month through offering business mentoring and financial support to people living on benefits.

Prime minister David Cameron said: “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.”

Posted by the Secret Businessman