Cameron backs new businesses with StartUp Britain scheme

Prime Minister David Cameron is launching a new private-sector business initiative today called Start Up Britain.

It is aimed at encouraging people to set up their own businesses and will be a major part of the governments attempt to encourage economic growth through private enterprise.

New businesses will be able to apply for help worth around £1,500 in areas such as internet advertising and IT training.

The campaign is being supported by many successful businesses including O2, Virgin, Blackberry, Google, Experian, Barclays and AXA. Some of these firms will be offering their own incentives to budding entrepreneurs.

Google is offering free online advertising. O2 is giving away one free month of line rental and Fujitsu is offering ten per cent of a years worth of online storage. Other firms involved are also offering incentives.

A number of leading entrepreneurs are behind the scheme and helping to organise and get involved in the government initiative.

At the launch today the Prime Minister is expected to say: “"I want to make a direct appeal to everyone who's sitting at home or at their desk thinking about starting their own business. Now is the time to do it.

"If you've been turning over a good idea for years - now is the time to make something of it. If you're working for a big firm but know you could do a better job on your own - now is the time to make the leap.

"If you're dreaming about starting up the next great British brand - now is the time to make it happen."

Mr Cameron is also launching a scheme with young people in mind. The ‘tenner tycoon’ scheme offers young people £10 loans and is designed to encourage the UK’s future wealth creators.

The scheme forms part of the government’s aims to harness the private sector to support the growth of the UK economy. It follows last weeks budget which saw the introduction of 21 new enterprise zones, tax relief’s for entrepreneurs and a reduction in Corporation Tax.