Stephen Metcalfe, local MP for South Basildon and East Thurrock, has said he is delighted at the Government’s announcement recently of a £30 million boost to Start-Up Loans which will help to create thousands of new businesses and 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 alone, over £1.5 million worth of loans have been approved, helping nearly 500 new businesses get off the ground. The South East has received 19 per cent of the total loans which have been awarded so far.
Stephen Metcalfe MP welcomed the boost: “I was delighted to hear the announcement. It shows that this Government is on the side of everyone who wants to work hard and get on and I would encourage any budding entrepreneur in South Basildon and East Thurrock to apply for a Start Up loan to get their business ideas moving.”
“This £30 million boost will make a huge difference to the hundreds of young people in Essex who have always aspired to own their own business, helping new companies get started and bringing jobs and growth to our economy.”
“We are increasing loans to small companies, investing in innovation and cutting corporation tax to make sure Britain can build the best businesses and compete in the global race. This is great news for South Basildon and East Thurrock.”
