The world is learning the value of new business startups from the U.S. and making funding available to help startups. It is time for the American Congress to create programs that help all types of startups, the young and the old, not just the high-growth startups promoted by most initiatives. Read about Britain’s new funding for young people.

Tuesday 29th May 2012 in Business News  By Andy Richardson

During the next three years, ministers will put £82m into the StartUp programme, which will offer loans worth on average £2,500 to people aged 18 to 24 who can show that they have a robust business plan.

The launch coincides with the publication of a report from Lord Young, the Prime Minister’s enterprise advisor, saying that there would be 900,000 more businesses in Britain if it had the same culture of entrepreneurship as the US. He said small businesses are “the engines of any healthy economy”.

As well as the loan, which can last up to five years, with an interest rate of Retail Prices Index plus three per cent, participants will also receive help in developing a business plan and training.