Justin Tomlinson MP has welcomed new figures that show the Government’s Start-Up Loans Scheme has provided more than a quarter of million pounds to people in Swindon to 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.
Over 99 per cent of British businesses are small in size, with fewer than 50 employees. They account for one third of private sector turnover and are responsible for 48 per cent of private sector employment. The Start-Up Loans scheme provides loans and mentoring support to people wanting to set up a business. 25,000 Start-Up Loans, worth nearly £130 million, have now been awarded. According to the Start Up Loan Company, more than 32,000 new jobs have been generated as a result of the scheme since it was launched in 2012
Justin Tomlinson MP 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 Swindon, £266,019 has been lent to 44 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."
