StartUp scheme backs young entrepreneurs

31 March 2011 | By Natalie Holt

A group of private sector executives has established StartUp Britain, which offers up to £1,500 worth of special offers to people setting up a new business.

The initiative is backed by 60 global brands, including Axa, Barclays, BlackBerry and Google, as well as the Government.

The Treasury is also planning to introduce a 50 per cent tax relief next year on sums of up to £100,000 invested in start-ups.

In addition to the special offers, StartUp Britain offers an online resource centre for individuals looking to start or grow their own business, including details of entrepreneurial internships and work placements.

The campaign has been launched alongside a package of Government measures designed to encourage young people to be entrepreneurial.

These include the Tenner Tycoon scheme, run by the Peter Jones Foundation, which challenges young people to make as much profit and social impact as possible from a £10 loan.

Speaking about the Government’s measures to help start-ups, Business Secretary Vince Cable says: “We will be giving young people insight into enterprise at an early age, showing them how rewarding it can be.”

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