Crawley MP, Henry Smith, has welcomed new figures that show the Government’s Start-Up Loans Scheme has helped 56 entrepreneurs in Crawley set up their own business through funding worth £333,941.
Henry commented:
“Despite a recovering economy some people who want to set up a new business often find it hard to get a loan. This has prevented those with ideas and aspiration from putting their business plans into action.
“Today’s figures show that Start-Up Loans are changing that - here across our town £333,941 has been lent to 56 budding entrepreneurs. This will ensure that all their potential and ideas don’t go to waste.
“This news follows a recent Duport Business Confidence Report which found that, between April and June, almost 200 new businesses were registered in Crawley – a record in our town’s history and a 25 percent increase on the same period last year. In addition, company closures also dropped by 2 percent, ensuring an overall increase in net company growth.
“New businesses are the lifeblood of our local economy, the engine room driving the region’s increasing prosperity, helping to create jobs and growth. That’s why it’s so important to support hardworking people who aspire to start their own businesses.”
Across the country 10,000 Start-Up Loans have now been awarded, worth a total of £50 million.