Thousands of new businesses via scheme
Entrepreneurial job-seekers in the North East have launched nearly 6,000 new businesses through a Government scheme to boost self-employment and drive innovation.
From manufacturing and technology, to leisure and fashion, thousands of job-seekers have set up their own businesses through the New Enterprise Allowance (NEA) since it was unveiled in 2011.
Through the NEA, job-seekers who want to start their own firm can access government funding and ongoing expertise about how to get started and manage a successful business from dedicated mentors.
Employment Minister, Priti Patel, said: “When we launched the NEA, we sent out a clear message to claimants with the creativity and drive to go it alone that we would back them and it is testament to this One Nation’s entrepreneurial spirit that people have risen to the challenge in their droves.
“The NEA has given people the confidence to secure their own financial future and move off benefits, which has also helped us to notch up a record employment rate and cut unemployment to a 10-year low.”
New figures show that of those who have launched a business, 69 per cent were aged between 25 and 49.