Newmarket MP Matt Hancock has welcomed new figures that show the Government’s Start-Up Loans Scheme has helped 20 people in West Suffolk set up their own business – helping to provide growth and jobs for hardworking families across Britain.
Businesses are an essential part of building our communities, bringing jobs and economic security to towns and cities across the UK. Encouraging business creators is a vital part of our long-term economic plan to secure a better future for Britain.
The Start-Up Loans scheme provides loans and mentoring support to people who want to start their own businesses. Across the country, 25,000 Start-Up Loans have now been awarded, worth a total of nearly £130 million and generating more than 32,000 new jobs.
Mr Hancock said: “The Conservatives back the small businesses which bring jobs to our local communities, and our long-term plan is aiming to make Britain the best place in the world to start and grow a business. Today’s figures show that Start-Up Loans are helping us to do that - here in West Suffolk £121,357 has been lent to 20 people.
“This is helping more businesses create more jobs - and crucially, it means that potential and ideas don’t go to waste. If the Conservatives win the election, we will go even further – tripling the number of people who will get Start-Up Loans to 75,000 by 2020, so even more people have the support they need to grow their businesses and create jobs.
“New businesses are the lifeblood of a healthy local economy, helping to create the growth and jobs that provide security and peace of mind for hardworking taxpayers. That’s why as part of our long-term economic plan we will keep supporting hardworking people who aspire to start their own businesses.”