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South East start-ups receive over £45 million from government scheme


The Government-backed Start Up Loans scheme has loaned more than £45 million in total to microbusinesses in the South East. 

Figures from the programme show that on average it has given loans to more than 5,543 loans, averaging £8,286 each, in order to kickstart new businesses.
 
Patrick Magee, British Business Bank Chief Commercial Officer, said: “Reaching £45million of funding in the South East is a real achievement and is testament to the ambitious spirit of new business owners in the South-East such as Alexandra.
 
“We’re looking forward to seeing more new business owners take up funding to kickstart their own businesses.”
 
Kelly Tolhurst MP, Small Business Minister, said: “The UK’s 5.7 million small businesses are the backbone of our economy and we’re dedicated to helping them thrive through our modern Industrial Strategy, ensuring we retain our status as one of the best places in the world to start and grow a small business.
 
“Reaching this important milestone reflects the success of UK Government-backed start-up loans in supporting entrepreneurs across the South East helping them form new businesses that grow local economies and are at the heart of our communities.”
 
Source: BDaily
 
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