Around 6,000 new businesses and up to 10,000 jobs could be created thanks to a new business start up programme, reports freshbusinessthinking.com.
Cash from the Regional Growth Fund, around £15 million, will help kickstart the Ready for Business programme, which will help target the transfer of public sector employment to the private sector.
As a result, London-based entrepreneurs could eventually create numerous private sector jobs in London thanks to the scheme, which offers a package of advice, mentoring, finance support and business planning.
Steve Cooper, vice chairman of business banking at Barclays, hailed the scheme. Barclays, who invested £1 million in the scheme, believes the initiative will deliver ‘real benefits’ to business. Furthermore, the new firms and jobs that will be created through the initiative will be a ‘welcome boost’ to the UK economy.
Business and Enterprise Minister Mark Prisk commented on the funding: “Small businesses are the lifeblood of the economy, and we want to encourage more people to discover their entrepreneurial spirit and start a business.
“I’m pleased the Ready for Business programme, which includes partners such as Barclays and the National Enterprise Network, will join many other schemes benefitting from support from the Regional Growth Fund to help small companies realise their potential,” he added.
The fund comes as nearly 400 applications were made to get a share of a total £1 billion from the Regional Growth Fund last month, reports menmedia.co.uk.