Local Conservative MP Jane Ellison has welcomed the Government's extra £30 million of Start-Up Loans for young entrepreneurs

Last week the Government has announced a £30 million boost to Start-Up Loans with the aim of creating new businesses and helping young people find jobs.

The Prime Minister’s announcement brings the total pot for Start-Up Loans to more than £110 million over the next three years and will see the age range extended to 30 years old, enabling more people to take advantage of this fund.

New figures have shown that in the first three months of the scheme, over £1.5 million worth of loans have been approved, helping nearly 500 new businesses get off the ground. Greater London has received 34 per cent of the total loans which have been awarded so far.

Jane said: “This Government is on the side of everyone who wants to work hard and get on and I would encourage any budding local entrepreneur to apply for a Start Up loan to get their business ideas moving.

“This £30 million boost could make a huge difference to the many young people in the local area who have always aspired to own their own business, helping new companies get started and bringing jobs and growth to our economy."