More than 250 entrepreneurs in Norwich receive cash boost to start their business through government scheme
PUBLISHED: 12:15 04 July 2017 | UPDATED: 12:15 04 July 2017
More than 250 people in Norwich have opened a business with the support of a new fund for enterprising jobseekers.
The New Enterprise Allowance has helped 1,280 people across Norfolk in the last six years.
Norwich had the county’s highest number of recipients of the fund, at 260, followed by 170 in North Norfolk and 130 in Broadland.
Successful applicants get access to a business mentor and financial support for up to six months. They may also be able to apply for a loan of up to £25,000 to help with start-up costs.
Minster for employment Damian Hinds said: “As these latest figures show, thousands of people across the East of England have great business ideas, and are taking the steps to turn them into a reality.”
The figures show that of the individuals launching a business nationally, more than two thirds (69%) were aged between 25 and 49, 7% were aged between 18 and 24, and 40% were women.