Winchester & Chandler's Ford MP Steve Brine has welcomed the Government announcing a £30 million boost to Start-Up Loans to create thousands of new businesses and help young people find jobs.
The Prime Minister's announcement brings the total pot for Start-Up Loans to more than £110 million over the next three years and will see the age range extended to 30 years old, enabling even more people to take advantage of this fund.
New figures have shown that in the first three months of the scheme alone, over £1.5 million worth of loans have been approved, helping nearly 500 new businesses get off the ground. The South East as received 19% of the total loans which have been awarded so far.
Steve Brine said: "This Government is on the side of everyone who wants to work hard and get on and I would encourage any budding entrepreneur to apply for a Start Up loan to get their business ideas moving.
"This £30 million boost will make a huge difference to the hundreds of young people in Winchester & Chandler's Ford who have always aspired to own their own business, helping new companies get started and bringing jobs and growth to our economy.
"We are increasing loans to small companies, investing in innovation and cutting corporation tax to make sure Britain can build the best businesses and compete in the global race. This really is great news."
