UK government creates £69m fund to support business creation and development

In a bid to support the creation and development of new businesses, the UK Government has decided to create a new fund worth £69m, a news report in the media has revealed.

The package includes £34m for the Start-Up Loans scheme, that typically provides a loan of about £4,500 to help get business ideas off the ground. So far more than 35,000 entrepreneurs have formally registered an interest in loan through the scheme with almost 8,000 start-ups helped.

Funding will also be provided to provide business mentoring and cash for unemployed people to start a company. The New Enterprise Allowance will be extended for new starters until the end of 2015 and provide an additional 60,000 mentoring places.

Prime Minister David Cameron said: “I am determined to do all I can to support the British economy and that includes helping small businesses and budding entrepreneurs to get on. In the last two years we have helped tens of thousands of people to turn their ideas into a viable business, and this additional support will help thousands more.”

“My message is simple: if you have drive, determination and are prepared to work hard, we will back you” he added.

Although most start-ups have relatively few employees, the truth of the matter is that implementing a workforce management solution in the early stages of the business might prove to be extremely useful on the long-term. And this is specifically where Time & Attendance UK can put its extensive experience in this field to very good use.

We offer a complete smart card time and attendance system that includes European Working Time Directive checking and reporting, Access Control, Fire Roll Call, and also makes good use of mobile and wireless technology so that your time and attendance information can be accessed from anywhere.

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Furthermore, our all-in-one, Smart Card Time & Attendance recording workstation incorporates such features as job booking, job costing, labour hours analysis and security management.
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