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Entrepreneurial graduates could profit from a £30million cash injection to the Government loan scheme. 07/01/2013
The initiative, which was set up in June 2012, will receive the boost over the next three years, prime minister David Cameron has said.
Around 3,000 young entrepreneurs have inquired about the scheme so far, aiming to join the expanding number of people who are self-employed in the UK.
Those who apply must provide a solid business plan, and are then handed up to £2,500 which is repaid over five years with a low interest rate.
The scheme was previously aimed at 18 to 24-year-olds, but has now raised its age limit to 30 due to high demand, with the initiative on track to provide more than 2,500 loans by March 2013.
The founder of StartUp Britain, David Young, Lord of Graffham, said, 'The programme is designed to help you create a business plan, and then give you a loan to get started.
'You will get continuing support from your mentor and your future will be in your own hands. The limits of your business will be up to you.'
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