The government will provide more money to help unemployed people who want to set up their own companies, David Cameron has announced.
The prime minister said New Enterprise Allowance projects, offering start-up loans and weekly allowances, could create 40,000 businesses by 2013. He predicted the next few years could be “some of the most dynamic and entrepreneurial in our history”.
The government has doubled the size of the planned scheme.
Under it, those who have been claiming unemployment benefits for more than six months will be offered up to £2,000 of financial support – including a start-up loan and a weekly allowance – as well as advice from a mentor with experience in business.
Applicants will have to provide a business plan which is judged to be viable.
The programme will be launched later this month in Merseyside and rolled out nationwide by the autumn.
- BBC News