Budding young entrepreneurs were given a new incentive to start-up today, after it was announced that 30,000 will receive free access to office space.
The space, offered by flexible workspace provider Regus, will be available to successful applicants of the government’s recently launched StartUp Loans scheme – which will channel up to £82.5m into helping young people start their own enterprise, through mentoring and £2,500 micro-loans.
The scheme’s chairman, former Dragons’ Den star James Caan, applauded Regus for its commitment – which is worth £20m – saying:
“Regus' generous provision has demonstrated to me the fantastic will of the private sector to get behind StartUp Loans and I believe this is the start of many more companies coming on board to help young people with the tools they need to launch and grow their own businesses.”
The free support package will include six months’ unlimited use of Regus’ 1,200-site network of ‘Virtual Office’ business lounges worldwide (more than 160 of which are in the UK); a business address in a recognised location; call answering and mail handling; as well as discounts on Regus’ other products and services.
The prime minister added his praise of the initiative, saying: “Enterprise is vital to our country's future and I welcome the excellent news that Regus are getting behind our young entrepreneurs and helping them get their businesses off the ground – a fantastic example of an established and successful company reaching out to help nurture the next generation of British businesses.”
The government recently announced that it will also make workspace available to start-up businesses, by opening up 18 empty government buildings to entrepreneurs.
Earlier in the year, Regus gave entrepreneurs free access to their UK working hubs, so they could be close to home on Valentine’s Day.
For more information, visit
StartUps Loans’ website