More than 16,000 jobseekers open businesses in the North West through start-up fund

A total of 16,090 people have opened a business in the North West - 440 in Rochdale - with the support of the New Enterprise Allowance (NEA), a fund available to jobseekers with a business idea.

Successful applicants get access to a business mentor, financial support for up to six months and may be able to apply for a loan of up to £25,000 to help with start-up costs.

The latest NEA figures show that Liverpool had the highest number of start-ups in the North West (1,760), followed by the Wirral (1,170) and Manchester (1,090).

The North West also has the highest number of businesses supported by the NEA when compared to every other region in England.

Minster for Employment Damian Hinds said: “As these latest figures show, thousands of people across the North West have great business ideas, and are taking the steps to turn them into a reality.

“The NEA provides the right mix of expert, tailored advice and support to people of all backgrounds which can be invaluable in the early days of starting a business.”

The figures show that of the individuals launching a business nationally:

• Over two thirds were aged between 25 and 49; 24% were over the age of 50 and 7% were aged between 18 and 24
• 40% were women
• 22% have a self-declared disability
• 13% were from a BME background