£1.5 million milestone for North West start-up loans

David Cameron, Paul Breen, Director of Business Finance Solutions and James Caam

Business Finance Solutions (BFS) has now awarded over £1.5m to young people aged 18-30 in the North West under the Government’s Start-Up Loans initiative, which was launched by the Prime Minister in January.

More than 300 young people from across the region have been awarded the low interest loans, business support and training to set up a wide range of businesses, from a digital reading service and fitness studio to a babywear store and dog grooming business.

Paul Breen, Director of Business Finance Solutions said: “The interest in the Start-Up Loans offer in the North West has been phenomenal and really highlights just how passionate these young people are about achieving their goals.

"Many of the recipients have been nurturing their business idea while at college or still in their day job and the support we’ve been able to provide has meant that they can take that all important first step and properly get their business off the ground.

“Some of the recipients are already employing people within their companies and many are also having a wider economic impact, using website designers, printers, shopfitters, etc – all of which is contributing to the region’s economic recovery.”

Andrew Cooper, who received the 300th loan to set up his digital subscription reading service, said: “For me, having my own business was really all I’ve ever wanted to do and having the support from BFS meant that I could make the leap with much more confidence and expertise behind me.

"I think we are seeing a new generation of entrepreneurs of people like me who see it as a much more natural thing to set up your own business and don’t take it for granted that someone else will give them a job for life.”

The loans of between £2.5k and £10k are delivered in the North West by Business Finance Solutions with successful applicants also receiving expert mentoring, business support and training.

Young people aged 18 – 30 can email info@BFSstartuploans.co.uk or visit www.startuploans.co.uk to learn more about the Start Up Loans and register.