Loans and allowances help launch 430 businesses

START-UP loans and the New Enterprise Allowance scheme have helped more than 430 people start their own businesses in Warrington.
The Start-up loans have helped 83 people set up a business with a total of loans worth £391,729 since the scheme started in 2012.
New Enterprise Allowance has helped another 350 people to start businesses Across Britain 30,000 people have now benefitted from Start-Up loans scheme – with £155 million lent to help new businesses get going.
The New Enterprise Allowance scheme, which launched in 2011, has seen another 70,000 new businesses set up. The scheme – which is available to jobseekers, and those claiming Income Support or Employment and Support Allowance – gives those with a feasible business idea support from a business mentor to help them develop their plan, and then seed funding if the plan is approved.
Warrington South MP David Mowat (pictured) welcomed the figures which, he said, were supporting people to start businesses and providing jobs for hard-working families.
Mr Mowat said: “The Conservatives back the small businesses which bring jobs to our local community, and our long-term economic plan is aiming to make Britain the best place in the world to start and grow a business.
“These figures show that our Start-Up Loans and New Enterprise Allowance are helping us to do just that, with 433 people here in Warrington supported, so that new companies can be launched and new jobs for hardworking people are created.
“This support is giving people in all parts of the country the chance to fulfil their ambition to set up their own business, and as a One Nation government we will take this further over the next five years, with a commitment to increase the number of Start-Up Loans to 75,000, as we work to create jobs and opportunities for families across Britain.”