Economic Developments: Schemes for Entrepreneurs Flashcards

1
Q

What did the Loan Guarantee Scheme do?

A

Made it easier for smaller companies to borrow money

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2
Q

When was the Loan Guarantee Scheme introduced?

A

1981

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3
Q

What did the Enterprise Allowance Scheme try to encourage?

A

Tried to encourage the unemployed to start their own businesses

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4
Q

What did the Enterprise Allowance Scheme give people?

A

It gave people £40 a week to help with their businesses

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5
Q

When was the Enterprise Allowance Scheme introduced? (To the month)

A

November 1981

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6
Q

How many individuals were funded by the Enterprise Allowance Scheme from January 1982 to July 1983?

A

3000

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7
Q

How many people did the Enterprise Allowance Scheme fund by 1990?

A

325,000

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8
Q

Name a significant business that gained funding from the Enterprise Allowance Scheme

A

Superdry

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9
Q

What was a limitation with the Enterprise Allowance Scheme?

A

1 in 6 businesses failed within their first year of being created

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10
Q

What percentage of unemployment was likely reduced by the government from the Enterprise Allowance Scheme?

A

Around 10%

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