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Young entrepreneurs urged to apply for start-up loans

YOUNG people in Solihull wishing to start their own business are being encouraged to apply for loans of up to £10,000 from a new government fund that supports start-ups with cash and business mentoring.

YOUNG people in Solihull wishing to start their own business are being encouraged to apply for loans of up to £10,000 from a new government fund that supports start-ups with cash and business mentoring.

The Start-Up Loans scheme is being delivered by a number of companies, including Printing.com, as well as The Prince’s Trust charity.

Applicants must be aged under 30 and apply through one of the delivery partners, who will interview and mentor hopefuls, as well as approve loans.

The programme is backed by entrepreneur and former Dragons’ Den panelist James Caan, and is designed to help young people start their own businesses. The Government has backed it to the tune of £112m.

Tony Rafferty, chief executive of Printing.com, commented: “Our main focus will be to help young entrepreneurs from the graphic arts sector including graphic and web designers. But we want to hear from young entrepreneurs from other sectors too. Our business is partly based on a network of franchises and we already provide lots of mentoring. We know how to help people get going. As a former director of the British Franchise Association I’m also keen to get the Start-Up Loan Scheme out in the broader franchise community.”

Printing.com hopes to help approximately 200 entrepreneurs in the next year, and the overall scheme aims to support 45,000 young business people by 2015.

Applicants should visit http://www.printing.com/entrepreneurs. Applicants are invited to submit their business plan or simply an outline of their idea.

 

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