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.
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.