Gosport MP Caroline Dinenage has welcomed the news that 37 local businesses have received financial loans from the Governments Start-Up Loan initiative. Supporting newly-created enterprises, the initiative has nationally lent £436 million to 57 000 companies, creating more than 56,600 jobs. This includes a total of £327,945 given to small and medium enterprises (SMEs) in the Gosport constituency from March 2012.
The Government-owned British Business Bank has also recently launched an online Finance Hub to help entrepreneurs identify and access the right type of finance. The hub contains a checklist to help businesses get ‘investor ready,’ articles from finance providers and case studies from a broad range of sectors.
Britain’s 5.7 million SMEs are the backbone of the economy, accounting for 60% of employment in the private sector. In Gosport, which has the second lowest employment to population ratio - 0.5 jobs available per person – enterprises and employment opportunities are especially important for economic growth and regeneration.
Caroline commented:
“Having started a business myself at the age of 19 I know how difficult it can be to kick-start an enterprise and keep it afloat. I am delighted that Gosport residents have the opportunity to act on their entrepreneurial ideas by accessing the right type of finance. The Start-Up Loan initiative has been able to encourage and help local businesses in the area, offering employment opportunities in the peninsula.”