£6million Investment for New Jobs
Posted on 04. Jan, 2011 by EasyEditor in News
More than £6million is to be spent on advice and support for small businesses and entrepreneurs in a bid to create more than 7,000 jobs.
The Scottish Government aims to inject £6.6 million from the European Regional Development Fund (ERDF) into a variety of projects, including a West Lothian training scheme for young people interested in starting their own business, a mentoring project run by Scottish Chambers of Commerce and an initiative to provide firms with advice on market development and access to finance.
“Scotland’s businesses are the beating heart of our economy and pivotal to a strong and sustained economic recovery. In recent months we have seen improved economic performance, with rising employment and encouraging GDP figures, but it is crucial that we build on this,” said Jim Mather, Minister for Enterprise.
“Directing European funding towards these kind of enterprising projects has been a key element of the Scottish Government’s Economic Recovery Plan. The money supports projects with the potential to enhance local economies, build strong and sustainable economic growth and support the creation of thousands of new jobs. These are all worthy initiatives that can make a vital contribution to economic growth across Scotland.”
The money is to be spent on a range of projects offering everything from entrepreneurial tips to teenagers and advice on market/product development to helping businesses develop new skills and provide support for energy-saving and resource efficiency.
“This is great news. A lot of people are either starting their own businesses after spending time in a job they have been made redundant from or, in the case of a lot of young people, starting out with the aim of working for themselves from the outset,” said Alison Finlay, business coach at www.bizworkshop.co.uk, which was set up specifically to support experienced people who need to start a business and require financial, legal and on going business and personal support.
“Starting a business is very daunting and mistakes can easily be made. However, with the right support and advice at the right time, these pressures can disappear.
“Just ensuring that all the finances are in order and making sure all the tax intricacies and allowances are understood can help establish a secure foundation for success and take away much of the stress.”
According to Mark Strudwick, CEO of the Prince’s Scottish Youth Business Trust (PSYBT), providing the best possible support to young people to enable them to create and grow their own business is absolutely critical, particularly in the current economic climate.
“The younger generation do have entrepreneurial spirit, however, the opportunities to start up in business are fraught with very real challenges. PSYBT offers a package of support to any young person who is considering starting their own business and cannot secure funding elsewhere,” he said.
ENDS
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