#Business “Start up loan scheme for 18-24 year olds”

Further to my earlier blog, I have looked at Lord Young’s “Make Business Your Business” report.
I must say I am very impressed, in fact somewhat overwhelmed at how right this document is!
Statistics are often boring, however, when someone points out that over 95% of all Small Medium Enterprises in the UK are micro businesses employing less than 9 people and that 75% of SME’s are sole traders employing no-one I feel vindicated. I have been saying for 5 years this was the case and in all this time Beurocrats have been asking us to help high growth, high employing Companies! Why?
Our Country’s’ wealth relies on new Micro Businesses.
This Blog is not designed to be a critique of Lord Young’s document, that would be rather silly.
What I aim to do is empower young people to engage with agencies such as The Prince’s Trust, and seek out assistance to develop their skills, and embrace the opportunity opening their own business will provide them.
Most Local Authorities provide support either direct or through enterprise partnerships. This support can be as little as, assistance with writing a Business plan, through to Courses, planning and loan provision. I urge you to contact your local council and ask about the Start up Loan Scheme for 18-24 year olds as well as general Enterprise help.
In 2012/2013 The Government is piloting this scheme for young people with a fund of £10m. If used and proven to be an effective tool for improving the outcome for young people, it has budgeted a further £32.5m in 2013/2014 and a further £40m in 2014/2015.
The scheme was launched today, so give it a few days before attacking The Prince’s Trust phone lines!
The Start Up Loans initiative provides guidance, access to expertise, and finance. These are the three vital ingredients for starting your own business. Armed with all of these, young people are already on the way to shaping their own future. Source James Caan.
It has never been easier to start your own business. Enrolling for self employment is a phone call to HMRC. Bank Accounts are readily available often free banking. Working from home is the no.1 way to trade, with Internet usage to develop and run the business the new way to trade. The growth in Social Media makes it both fun and rewarding.
It does not cost much to start! See my previous Blogs.
This is only a taster, so worry not. Visit government website for greater detail.
I hope you have found this of interest?
I have asked before. Your comments matter!
As always, Geoff Reeves, FYCreatives, Blackpool 01253477147


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