Help for budding young entrepreneurs looking to start their own business

Young entrepreneurs in Blaby district looking for help to start their own business have now got the chance with an exciting new programme.

StartUp Loans, for young people aged 18-30, offers the opportunity to obtain a loan of around £2,500 at an interest rate of six percent for a maximum of five years.

As a requirement of the scheme each applicant will work with a business mentor who, at no cost, will help them with their business plan, loan application and the development of their business.

Councillor Terry Richardson, portfolio holder for Planning, Economic Development and Housing Strategy, said:

Cllr. Terry Richardson
Cllr. Terry Richardson

“The aim of the programme is to help young entrepreneurs create a business plan and provide them with a loan to get started.

“On top of this they will get continuing support from a mentor, who will be able to pass on valuable advice from working in the business world. Their future and limits of their business will be in their hands.”

StartUp Loans was launched in September 2012 when StartUp Britain joined forces with the Department of Business, Innovation and Skills to provide the service.

Since then organisations across the UK have been carefully selected as the delivery partners for the scheme and Skills for Enterprise has been selected as the delivery partner for Leicester and Leicestershire.

Skills for Enterprise will be running a series of workshops across the county for those interested in learning more about starting up in business.

Managing Director David Ryan said:

“Potential young entrepreneurs will often find it difficult to access suitable finance to allow them to start up their business. The StartUp Loans scheme will give young people access to funding and mentoring support to help them on their business journey.”

For more information on the scheme and details about the upcoming workshops, please visit or call 0116 251 8730


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