Economic Developments: Schemes for Entrepreneurs

Question 1

What did the Loan Guarantee Scheme do?

Answer 1

Made it easier for smaller companies to borrow money

Question 2

When was the Loan Guarantee Scheme introduced?

Answer 2

1981

Question 3

What did the Enterprise Allowance Scheme try to encourage?

Answer 3

Tried to encourage the unemployed to start their own businesses

Question 4

What did the Enterprise Allowance Scheme give people?

Answer 4

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

Question 5

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

Answer 5

November 1981

Question 6

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

Answer 6

3000

Question 7

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

Answer 7

325,000

Question 8

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

Answer 8

Superdry

Question 9

What was a limitation with the Enterprise Allowance Scheme?

Answer 9

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

Question 10

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

Answer 10

Around 10%