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Small businesses could cash in with new start-up scheme

Start-up businesses in Shropshire could be eligible for a loan of up to £25,000 to help get their entrepreneurial ideas off the ground.

The Government-backed scheme is available to anyone aged 18 or over, either planning to start a UK-based business - or with a business which has not yet been fully trading for two years.  The scheme could offer a solid foundation for small businesses, as it also comes with free support and guidance.

Our Small Business Manager, Martyn Bramwell, said: "Small businesses are the backbone of the Shropshire economy, and more and more people are considering starting-up their own.

"The Government has recognised the value that these companies provide to the country, and believes that every £1 it spends on the scheme will bring a £3 return on investment to the UK economy.

Start-up loans between £500 and £25,000 are available under the scheme, with an interest rate of 6% fixed per annum.  Loan terms are available from 1-5 years, with no application or early repayment fee.

For full details, and to find out if you qualify, see the website www.gov.uk/start-up-loans.

Martyn said: "Applicants also receive free support and guidance to help complete their business plan, and access to free mentoring for 12 months following receipt of their loan.

"This is a glorious opportunity for start-up businesses to take their first step towards success and set themselves up for a strong and properous future."

DY's Small Business Manager, Martyn Bramwell