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Croydon a hotbed of budding entrepreneurs
21/11/2013 12:10:00

 
 

New businesses are the lifeblood of a healthy economy, helping to create jobs and growth.

That’s why this Government believes in supporting hardworking people who aspire to start their own business. Because of the financial crisis we inherited, such people were finding it hard to get a loan, preventing them from realising their dreams.

So we set up the Start Up Loans scheme, providing start-up support to budding entrepreneurs in the form of a repayable loan together with a business mentor.

So far, 10,000 loans, worth £50 million, have been awarded and Croydon has had the second highest number of loans of any local authority in the country (250 loans worth a total of nearly £1.2 million). It’s evidence of how many people we have in our town who have great ideas and only need a bit of help from the Government to set them on their way.

The scheme aims to support 30,000 new businesses by 2015 so if you’ve always thought about starting your own businesses but can’t get a loan from your bank, why not see if you are eligible?

Comment on this blog

 

Readers' Comments

On 22/11/2013 11:23:00 Jim wrote:
And no doubt other "new businesses" are financing this (and the bureaucracy that goes with it) through taxes.

As Ronald Reagan put it:

""The nine most terrifying words in the English language are: 'I'm from the government and I'm here to help.'"

 
On 25/11/2013 13:25:00 Grahame wrote:
From time to time it is desirable for Government to intervene in order to create and/or support the conditions in which business and trade can thrive. Small companies are often innovative and responsive to customer needs and preferences. Many of today's High Street majors started in a small way: eg Marks and Spencer, W H Smith and Boots.

The loans provided by this scheme (not grants as I understand) are a good thing because as businesses grow and create wealth and employment there will be more spending and also more tax receipts from Income Tax, National Insurance and VAT and so on. The administrative costs of the scheme should be more than paid for in due course.

 
 

 

 

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Gavin Barwell, House of Commons, SW1A 1AA, Tel  020 8660 0491      © Gavin Barwell  2017       Promoted by Ian Parker on behalf of Gavin Barwell, both at 36 Brighton Road, Purley, CR8 2LG