£80m Government fund helps jobless

The Government has launched an £80 million fund to support those who have been unemployed for more than six months and want to start their own business.

The New Enterprise Allowance (NEA) will provide financial help and specialist mentoring in a bid to support up to 40,000 new businesses over the next two years.

Details of the NEA were outlined by Employment Minister Chris Grayling when he met business leaders on Wednesday.

The meeting took place as the latest jobless figures were published.

Mr Grayling said: "We are determined to do everything we can to boost enterprise. The New Enterprise Allowance is a really important part not just of helping the unemployed but also of encouraging a new generation of businesses that can themselves become employers.

"The scheme includes making sure that unemployed people with a good idea get the support they need to move into self-employment, and also that there is easily accessible advice and guidance for all kinds of new small businesses across the country. We want to see experienced businesses roll their sleeves up and give a helping hand to newer entrepreneurs."

Adam Marshall, director of policy and external affairs at the British Chambers of Commerce, said: "Moving people out of unemployment isn't just good for Government – it's good for business too.

"The NEA is one important way in which companies, chambers of commerce and Government can work together to help people help themselves and to grow the local economy."

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