The All Party Parliamentary Small Business Group, APPSBG, has called for the new Enterprise Allowance offered to young entrepreneurs to be extended.
Currently, following six months of claiming jobseekers allowance, individuals are able to apply for funding of £1,274 plus access to a guaranteed loan of £1,000. The APPSBG has also said that the current figures are too low to help businesses establish themselves. They say that the typical start-up requires between £2,500 and £5,000 to pay for costs such as infrastructure, stock, and small business insurance.
The APPSBG recently released a report entitled “Breaking down the barriers to entrepreneurship” in which they made a number of recommendations to help encourage growth in the freelance industry. Other recommendations include the improvement of education in this area and the suggestion that Jobcentre Plus work more closely with women’s networks and other groups of older entrepreneurially skilled individuals.
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