Yesterday the Prime Minister announced a £69 million fund for aspiring entrepreneurs which will help create tens of thousands of new businesses.

Henry commented:

“The New Enterprise Allowance is being extended for new entrepreneurs providing an additional 60,000 mentoring places to help people start their business. The Prime Minister is also allocating an additional £34 million to provide Start-Up Loans to support around 7,600 businesses; particularly those started by people over 30 and former Service personnel.

“Through my patronage of the Young Start Up Talent project, I have seen firsthand the entrepreneurial zeal that local residents have for new business schemes.  Through the competition’s £50,000 award prize, I’ve seen local young people such as last year’s winner, Sam French, establish and grow successful enterprises.

“I believe that the Prime Minister’s £69 million fund will help create similar such opportunities as those stemming from the Young Start Up Talent project for more local people and from varying age groups. 

“Our town’s continued economic success – which is ranked as having the fourth highest economic wellbeing in the country – is as a direct result of local small and medium sized enterprises which form the lifeblood of our economy.”

In his announcement, the Prime Minister said:

“We are determined to do all we can to support the economy and ensure Britain succeeds in the global race. As part of this we want to help small businesses and budding entrepreneurs to get on. In the last two years we have helped tens of thousands of hardworking people turn their ideas into viable businesses and this additional funding will help thousands more.

“We are clear: if you have drive, determination, are prepared to work hard and want to get on, we will back you.”

Follow Henry daily via: www.facebook.com/henrysmithmp; http://www.youtube.com/user/HenrySmithMP; or www.henrysmith.info.