New business loans to help young people get a start

YOUNG people looking to start their own business can get financial backing of up to £10,000 thanks to a new loan system from the government.

The Start-Up Loans scheme is being delivered by a number of companies, including, and The Prince’s Trust charity to help start-ups with cash and business mentoring.

Applicants must be aged under 30 and apply through one of the delivery partners, who will interview and mentor hopefuls, as well as approve loans.

The programme – supported by £112m from the government – is being backed by entrepreneur and former Dragons’ Den panellist James Caan.

Interested applicants should visit to submit their business plan or idea, with a mentor taking them through the process.