Conservative Councillor Allan Andrews, the Deputy Leader of Coventry Conservatives, has welcomed new figures that show the Government’s Start-Up Loans Scheme has helped 46 entrepreneurs in Coventry set up their own business. Across the country 10,000 Start-Up Loans have now been awarded, worth a total of £50million.
Commenting, Allan said: “Because of the financial crisis the Government inherited, people who want to set up a new business have often found it hard to get a loan. This has prevented people with ideas and aspiration from putting their business plans into action.
“Today’s figures show that Start-Up Loans are changing that - here in Coventry £225,817 has been lent to 46 budding entrepreneurs. This will ensure that all their potential and ideas don’t go to waste.
“New businesses are the lifeblood of a healthy economy, helping to create jobs and growth and that’s why it is vital that the Government continues to support people into starting their own business.”