Jul 31, 2012

Investment worth £75 million supports 6,000 new start-up businesses

The slew of investment and other financial schemes recently launched to support start-up companies in the UK saw another significant contribution. 

The Regional Growth Fund and Barclays invested £75 million in a new programme geared towards supporting start-ups. 

The programme called 'Ready for Business' is likely to create over six thousand new businesses. This pioneering scheme will benefit new companies across the UK and is spearheaded by NEN (National Enterprise Network).

The Ready for Business initiative will focus mainly on providing financial support for displaced workers from the public sector. After an initial investment of £15 million made from Regional Growth Fund, Barclays provided a boost of £60 million to ensure success of the programme. 

The program offers a free introductory seminar called Barclays Get Ready for Business. Providing support for start-ups, the seminar will be presented by the Cavendish Consortium. The package also includes a detailed assessment of business plans as well as expert mentoring, guidance and advice provided on a one-to-one basis.

Over 24,000 workers can attend these seminars while at least four thousand entrepreneurs are set to receive financial aid. To ensure that the programme reaches all corners of the country, six agencies are assisting the initiative in different regions.

The northwest region will be covered by BBV while the north east region will be led by TEDCO. South west and south east regions will be directed by agencies Business West and Enterprise First respectively. NWES will take the lead in the east and NVV will provide its support in the East Midlands region.

Enterprise and business minister Mark Prisk stressed on the importance of small businesses and encouraged people to encourage their entrepreneurial side and launch start-ups. This program is an excellent way of providing excellent business mentoring for new entrepreneurs and start-ups.


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