The Government is giving young entrepreneurs access to around £80 million-worth of loans to get new businesses off the ground in addition to the dedicated help of a mentor.
Thirty years ago small businesses were in decline. Now there are record numbers, with many tens of thousands starting each year. They’re the engine room of our economy and critical to future economic growth.
But we can’t be complacent. Now, more than ever, we have got to get behind our small businesses and encourage even more people to seize the opportunities and support that there is to start up on their own.
The new ‘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.
In April, I was delighted to launch the first Federation of Small Businesses Startup Crawley exhibition. The event offered a wide variety of seminars and stands that offered support and advice to local entrepreneurs who are seeking to develop new firms.
I found Startup Crawley to be an excellent initiative that really is a must do for any new small business in and around our town. I’m sure that with the advice on offer at the initiative, together with the Government’s entrepreneurial loan scheme, we’ll see many more successful startups in our town over the coming months.
Fostering the creation of new businesses is an absolute priority to help our economy grow. The Government has taken a number of steps that have made the UK one of the easiest places in the world to set up a new business. These include reducing corporation tax to 22% making it the lowest in the G7 and slashing red tape to make it easier to start a business. With the Governments new web-based ‘one click’ model of business registration, you can now register a simple limited company faster than ever before and for just £18.
Small businesses are a vital part of our local economy and with the funding support and events like Startup Crawley, I hope local entrepreneurs have the resources and knowledge they need to succeed in an increasingly competitive global market.