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Loan scheme targets young entrepreneurs in South West

By Western Morning News  |  Posted: December 05, 2012

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Budding entrepreneurs are being offered help to start up in business thanks to a new scheme launched in the South West.

Covering Cornwall, Devon, Somerset, Bristol, Gloucestershire, Dorset and Wiltshire, the Start-Up Loans scheme aims to help anyone aged between 18 and 24 years old to start their own company.

The scheme was launched by the Government and Dragons' Den star and entrepreneur, James Caan, and aims to help 30,000 new businesses get off the ground across the UK.

The scheme is being administered in the Westcountry by the South West Investment Group (SWIG), which said it has already received 200 enquiries that have resulted in support for eight entrepreneurs, with a further 37 applications for loans currently being processed.

John Peters, a fund manager at SWIG, said: "We're really excited about helping young people kick-start their business ideas with this funding."

Amounts are flexible, with a typical loan of around £2,500.

To find out more, log onto www.southwestinvestment group.co.uk/startuploans

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