UK Government Launches Scheme for Young Entrepreneurs

A new scheme by the UK Government to help Entrepreneurs is being launched today, it comprises of a loan in some ways similar to a student loan in order to help the young entrepreneurs.

It is being launched by Lord Young (Enterprise Advisor to David Cameron Prime Minister), the scheme is intended for 18-24 year olds to benefit.

The scheme consists of funding of up to £2,500 per individual as a loan. The applicants must be a resident in the UK, furthermore the cash loan also comes with a mentor to ensure a business plan is well prepared with good advice. Further information is available at Start Up Loans.

The UK prime minister David Cameron stated: "I want this to be the year where people can think yes, I can do it, that we can get as many viable businesses as possible off the ground, that people can have a go, and that we see a whole new wave of entrepreneurs who start small but think big. Startup loans are a fantastic opportunity for young people, not only to get the financial support they need, but also to give them the confidence to believe they can do it, that they can turn that spark of an idea into the next global brand."

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