Government Start-Up Loans Scheme Supporting Local Entrepreneurs

Reading West MP Alok Sharma and Reading West Conservatives have welcomed the news that emerging businesses in Reading and West Berkshire have been granted more than £170,000 as part of the Government’s Start-Up Loans Scheme.

The programme, introduced by the Conservatives in government in 2011, has already granted 10,000 loans across the UK, worth more than £50million. The Government aims to have granted loans totalling £151million to 30,000 businesses by 2015.

A total of 24 entrepreneurs in Reading and six businesses in West Berkshire have benefitted from the scheme, which is designed to assist in the creation of small businesses.

Tom Steele, Conservative candidate for Kentwood ward, said: “I'm aware that graduates from Reading University, wishing to continue to live in the Reading area, have taken advantage of this opportunity.”

Alok Sharma said: “Start-Up Loans are an excellent scheme to help budding entrepreneurs who have a feasible business idea that may not otherwise have access to finance. New businesses are the lifeblood of a healthy economy, helping to create jobs and growth. That is why this government will keep supporting hardworking people who aspire to start their own businesses.”