Encouraging business start-ups in Brighton & Hove

Yesterday the Government announced welcome new plans to support 40,000 new business start-ups over the next two years by offering grants and loans to unemployed people who can show they have a robust business plan. The number is double that first targeted when the scheme – the New Enterprise Allowance – was first launched back in October. It is to be rolled out nationally by the autumn.

For anyone interested there are more details here. However, the bare bones are as follows: budding entrepreneurs seeing self-employment as a viable option will receive allowances equating to £1,275 over six months. They will be paired with “volunteer” mentors drawn from the local business communities who will vet business plans and if they prove strong enough, Jobcentre Plus will provide a loan of up to £1,000 to cover start-up costs.

The Government is very keen to stimulate private sector growth in the economy following the recent downturn and any measures to help business start ups are most welcome, particularly here in Brighton & Hove where we have a very vibrant independent small-business community.

New England House (photo courtesy of Chris Keene)

The changes will also complement very nicely some of the other local initiatives we are supporting such as our new Local Enterprise Partnership (Coast to Capital) and our plans for creating a creative and digital media industry ‘hub’ at New England House.

In spite of the dire state of the public finances, economic growth actually held up pretty well last year and small businesses have been at the heart of that. There are also encouraging signs for 2011- a recent survey for example found that almost half of the UK’s small businesses plan to hire new staff next year.

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