Age cap on start-up loans should be removed
Date published: 13 May 2013
An age cap on accessing taxpayer-funded loans to set up a business should be removed, says the prime minister's enterprise adviser, Lord Young.
His latest report says those over 30 should be eligible for start-up loans.
It is one of several proposals which PM David Cameron said would help "fire up business growth" in the UK.
Other proposals put forward by Lord Young include making it easier for small businesses to bid for £230bn a year of public sector contracts.
Another is the creation of a £30m voucher scheme to encourage firms to get expansion advice.
In his second report to the prime minister - entitled Growing Your Business - former trade and employment secretary Lord Young also suggests a greater role for business schools in the local economy.
Lord Young's report focuses on micro-businesses - those which have fewer than 10 employees and which make up 95% of all businesses in the UK.
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