Start-up Loans

Marcus Jones Excerpts

Wednesday 20th November 2013 Commons Chamber

[Mr Marcus Jones (Nuneaton) (Con)]

I recently met a number of young entrepreneurs who had started successful small businesses using start-up loans. They had been refused loans by mainstream banks. Will my hon. Friend assure me that the scheme will be broadened to create tens of thousands of budding entrepreneurs of all ages across our great country?

[Matthew Hancock]

The scheme is growing and accelerating, and it has the capacity to do more. I hope that we can do more with it, not least because it is helping people who would otherwise not be able to start their own business. We started the scheme because of the difficulty that is faced in getting finance from banks at an early stage. The evidence that my hon. Friend sees in his constituency is what I see across the country. That is exactly what this successful scheme is for.