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£10m Fund for Budding Business Brains

£10m Fund for Budding Business Brains

Britain’s next generation of entrepreneurs could be handed a boost as the Government places £10 million on the table to support budding business brains.

Announced by Business & Enterprise Minister Mark Prisk, the pilot scheme will seek to provide entrepreneurs aged 18-24 with access to training, business mentors and a small amount of capital to bring their idea to life.

In a press release issued by the Department for Business, Innovation and Skills, Mr Prisk outlined the intention behind the scheme:

ΓÇ£We want to give young people the best possible chance to start and grow their own enterprise. This scheme is not just providing a small amount of funding, but is about looking at the bigger picture and we want to be able to offer a full package of business training and mentoring.ΓÇ¥

ΓÇ£By encouraging more young people to get into business we will be able to boost their entrepreneurial spirit and help the future growth of the UK economy.ΓÇ¥

Speaking in support of the project Stu Anderson, Project Director at Shell LiveWIRE, who claim to have helped over 600,000 young people here in the UK to explore the possibility of starting their own business since being founded in 1982, stated:

ΓÇ£These loans offer the chance for many young people with little financial track record to access seed funding to get their ideas off the ground.

ΓÇ£There are thousands of young people with great ideas who find it hard to access funding because of this. This scheme not only offers a chance to finance an idea, but it also packages together support to ensure that they have the best possible chance of success in business.ΓÇ¥

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Author: | May 1, 2012 | 1 Comment

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