West Worcestershire MP Harriett Baldwin welcomed a new fund which will help young entrepreneurs to start their own business. StartUp Loans is a government backed project offering up to £2,500 to any young person wanting to start a business. Anyone aged between 18 and 24 can apply for a loan. The fund will be overseen by Lord Young of Graffam and former Dragon’s Den entrepreneur James Caan, who have produced a report analyzing the future of small business in the UK. The Government also announced a £200 million fund to help small businesses to expand and create new high value jobs. Harriett commented: “Lord Young and his team have produced a revealing study of the some of the challenges facing people who want to start up a new business. “We have a fine reputation in the county for creating engineering, defence and technology businesses and we have a science park which offers companies a chance to get a foothold in the business world. “However the report makes the point that we must offer businesses support in all sectors. Painters, plasterers and electricians are just as important as software writers and IT engineers. “There are many young people who are leaving school or university worried about what the future may hold. “There could not be a better time to start a new business and this fund is an important first step towards helping young entrepreneurs to have a go and be their own boss.”