A MULTIMILLION pound pot of government money has been made available to help start-up businesses, thanks, in part, to the efforts of a young Skegness entrepreneur.
Chancellor George Osborne announced the start of a £10million youth enterprise loan scheme during his 2012 budget speech on Wednesday.
The announcement comes after a consortium of young entrepreneurs, including Skegness teen George Quann-Barnett, visited the House of Commons to lobby for the scheme’s introduction.
George said: “A youth enterprise loan scheme is great news and just the sort of help young entrepreneurs need in this tough economic climate.
“Running your own company is never easy but, with the right support and mentoring, this could transform the aspirations of a lot of creative, ambitious young people who want to go it alone.”
The 19-year-old founder of Launchpad Records has already enjoyed great successes in the music industry, having worked with the likes of grime MC Wiley and Dot Rotten.
As a member of Virgin Media Pioneers, an online community of young entrepreneurs, he hopes this low interest loan scheme, can help offer varied career options in the wake of mass youth unemployment and falling university applications.
Founder of Virgin Media Pioneers, Sir Richard Branson shares George’s enthusiasm for the loan scheme.
He said: “This has the potential to transform the prospects of thousands of young people.
“The entrepreneurs of today will be the job creators of tomorrow, so I’m delighted that the government has listened to those at the very start of their careers.
“The country is full of gifted and enterprising people so this pilot, which crucially has business mentoring and support at its heart, will help prevent a lost generation of talent.”