Government start up loans expanded

The OFT criticised Government loan scheme to allow budding young entrepreneurs to get going, has been expanded by £30 million, to a total of £110 million, over a three year period. The age of the applicants has also been raised to 30 from 24.

The main negative regarding this initiative, is that funds are not being made available quick enough, with only £1.5 million advanced since May, though the Government has said the scheme is on target to finance 2,500 young entrepreneurs, with up to £2,500, by March 2013.