Loans For Young Entrepreneurs

6 January 2012, 06:00

A Hertfordshire entrepreneur has been talking to the government about loaning money to young people starting up a business

Zoe Jackson from St Albans took part in a Control Shift programme by Richard Branson's Virgin Media Pioneers

The report looked at how loans should be available in the same way they are to students going through University.

Mr Cameron has described the idea as “brilliant”.

Young people who decide to go into higher education can get loans of up to £9,000 a year to cover tuition fees and £7,675 for maintenance.

Interest charged on the borrowing is set at favourable rates, compared with those on offer commercially.

Zoe Jackson, founder of the Living the Dream performing arts company in St Albans told Heart a loan would have really helped her when she was setting up her business:

"It would have enabled me to expand, buy resources that I need, to hire more staff and get the job done quicker. i think it would have really helped me"