Economic Developments: Schemes for Entrepreneurs Flashcards
What did the Loan Guarantee Scheme do?
Made it easier for smaller companies to borrow money
When was the Loan Guarantee Scheme introduced?
1981
What did the Enterprise Allowance Scheme try to encourage?
Tried to encourage the unemployed to start their own businesses
What did the Enterprise Allowance Scheme give people?
It gave people £40 a week to help with their businesses
When was the Enterprise Allowance Scheme introduced? (To the month)
November 1981
How many individuals were funded by the Enterprise Allowance Scheme from January 1982 to July 1983?
3000
How many people did the Enterprise Allowance Scheme fund by 1990?
325,000
Name a significant business that gained funding from the Enterprise Allowance Scheme
Superdry
What was a limitation with the Enterprise Allowance Scheme?
1 in 6 businesses failed within their first year of being created
What percentage of unemployment was likely reduced by the government from the Enterprise Allowance Scheme?
Around 10%