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Start Up Loans programme has positive impact on small business survival

^{Published on 2024-12-16 09:01:04 - Express & Star}
 

• Smaller businesses backed by the government's Start Up Loans programme have higher survival rates than other businesses, finds an independent evaluation, conducted by SQW working in partnership with Professor Mark Hart,

The Start Up Loans programme, which has provided over £1 billion in funding to more than 100,000 entrepreneurs since its inception in 2012, has significantly boosted small business survival rates in the UK. According to a study by the British Business Bank, businesses that received loans through this programme are 20% more likely to survive their first year compared to those that did not receive such support. The programme not only offers financial assistance but also includes mentoring and support services, which are crucial for the early stages of business development. This initiative has been particularly impactful in regions like the West Midlands, where it has helped to foster a vibrant start-up ecosystem, contributing to local economic growth and resilience.

Read the Full Express & Star Article at:
[ https://www.expressandstar.com/news/business/2024/12/16/start-up-loans-programme-has-positive-impact-on-small-business-survival/ ]

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