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Government scheme helps launch 26,000 new businesses
11:35am Wednesday 21st August 2013 in Business
MORE than 26,000 new businesses have been set up under a Government scheme aimed at helping jobseekers become their own boss.
Ministers said the New Enterprise Allowance was behind a huge number of ventures, ranging from internet games designers to gourmet chocolate companies.
The scheme, launched two years ago offering financial and other support, is helping 2,000 new business set up every month.
More than 6,000 businesses have been launched by people aged 50 or over, and 4,000 by disabled people, said the Department for Work and Pensions.
Employment minister Mark Hoban said: "The New Enterprise Allowance is a great example of the aspiration nation in action - Government offering support to people with ideas, as well as the can-do attitude to turn them into successful enterprises.
"Every month, we are successfully supporting around 2,000 jobseekers to get off benefits and start their own business so that they can fulfil their aspiration to look after themselves and their families."
Examples highlighted by the Government include a 26-year-old who set up a martial arts and fitness centre in Bristol and a Grimsby man who spent 16 years in and out of prison before launching an education and training enterprise.
Under the scheme, an allowance of £1,274 is paid over 26 weeks, as well as a loan of up to £1,000 and access to a business mentor.
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