West Midland Entrepreneurs capitalise on Start Up Loans

Lastest data from the Department for Business, Innovation and skills shows the total number of loans awarded in the West Midlands was 14%, the highest number capitalising on the Government’s Start Up Loans scheme outside of London.

London heads the list at 33%, and then after the West Midlands comes the South East (13%), the North West (9%), South West (8%), East of England (7%), East Midlands (6%), Yorkshire (5%) and North East (5%).

The start up scheme, predominately aimed at young entrepreneurs has seen applications double in the past month from 3,000 to over 8,000 in January.  The programme is available to anyone between the ages of 18 and 30 whose business is in England.  It consists of a low cost loan and free mentoring.

James Caan, Chairman of Start-Up Loans said that the momentum developed was very encouraging but warned there are challenges ahead

“We have to raise awareness of Start-Up Loans throughout all of England so every young person knows about this programme. We have to make sure every young person realises the help and support we offer means they can turn their ideas into an income,” he said.

More information can be found at http://www.startupbritain.co/loans/ or via their facebook page at https://www.facebook.com/StartUpLoansUK