New start-up funding scheme in UK

The first pilot schemes will soon be underway after the recent UK budget announced a boost for small business with a new loan initiative. A one year pilot scheme focuses on people aged between 18 and 24 who will be able to apply to borrow between £5,000 and £10,000 (about $12K) to back their business idea. If this student-loan type scheme is successful, the government says it wants to introduce it permanently. While this has been welcomed by many in the small business community, this scale of small business funding raises a few questions. Continue reading