Project launched to increase SME numbers in West Midlands

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A new scheme to encourage entrepreneurs aged over 50 years old to start up new businesses is being launched in the West Midlands.

The initiative – backed by the Prince of Wales – is aiming to boost the number of small to medium-sized enterprises (SMEs) in the region and ultimately create more jobs. 

As much as £820,000 has been set aside by the European Regional Development Fund and the Prince’s Initiative for Mature Enterprise to encourage over 240 people to get involved over the next two years.

Communities minister Baroness Hanham said: “Embarking on a new business venture can be a daunting experience, no matter what age you are.”

She added that initiatives like this one are key to supporting those embarking on new ventures.

A small pilot scheme took place last year in order to test the initiative out – with 2,500 people registering their interest at the time.

Posted by the Secret Businessman