Young companies in the capital are set to benefit from a new initiative which aims to keep early stage businesses afloat.
The London Development Agency (LDA) has launched the Business London: Start-Up and Micro Business Support and Skills Development Programme.
Business London is a £9.9m initiative which the LDA says will create 4,000 jobs and support 18,000 businesses across London by 2009.
The programme will target small businesses and entrepreneurs in their early stages with the aim of developing commercial skills. It will provide workshop training, seminars, one-to-one advice, networking events and organise conferences.
“Figures show that businesses are most likely to fail in the first three years of activity,” said Manny Lewis, chief executive of the LDA.
“Through Business London we will equip young companies with the skills needed to survive and grow. We are delighted to support business in London and to help more people get jobs.”
The Business London programme will be delivered by a group of business support agencies in five regional hubs: central, north, south, east and west London. It will be funded by the LDA and the European Social Fund.
The LDA said the programme will ‘particularly help women, disabled people and black, Asian and ethnic minority groups who face more difficulty in starting up new businesses and getting into employment’.
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