At Entrepreneur First we have been talking about loans for young entrepreneurs for some time. At the budget announcement this week, George Osbourne said that the government would consider offering loans for young people to start their own businesses, similar to the loans available for students. This is thanks largely to the lobbying that Richard Branson and his Virgin Media Pioneers have done and we are pleased to see that the issue is getting some serious air time.
We would welcome the opportunity for very low cost, government backed loans for potential entrepreneurs and look forward to the government's investigation into this. However, throwing money at the problem alone is not enough. Young entrepreneurs need support through training and mentoring. We encourage the government to ensure that these systems are in place alongside the loans. Entrepreneur First provides a practical and prestigious route into entrepreneurship for the UK's top graduates and we make sure that our budding entrepreneurs have the guidance they need to create successful high-growth businesses straight out of university.