ACS

Business Secretary Lord Mandelson gave the go-ahead for a new £35m Business Start Up programme for the North West, during a visit to the region today.

During a breakfast summit with local business leaders at the Lowry Arts Centre in Salford, Lord Mandelson said:

"This new funding will help entrepreneurs in the North West to get new enterprises off the ground and access the support they need to grow and flourish.

"Nurturing and protecting start ups and young businesses through this downturn will lead us into the upturn that will follow."

Over the past two months Lord Mandelson has set out his vision for a new industrial activism. Speaking today he explained the crucial role that regions will play in this vision and why initiatives like the Business Start Up programme are so important.

Lord Mandelson said: "The next industrial revolution will, once again, be driven by the regions, just as Britain's first industrial revolution was.”

"I see the Regional Development Agencies taking a leading role in this. Indeed I believe it should now be their defining role."

The Business Start Up programme will be accessed through Business Link Northwest, the region's business support gateway. Specialist advisers will provide a comprehensive package of support, advice and training for start-ups and young businesses.

The funding for the programme includes £26.6m from the Northwest Regional Development Agency (NWDA) and £8.4m from the European Regional Development Fund (ERDF) - a total of £35m over five years from April 2009. Local authorities can also add to the programme by coming forward with extra funding.

The targets for the five year support programme are to:
* support 12,700 new businesses; and
* create 22,900 jobs

For further information contact Business link on 0845 00 66 888 or go to http://www.businesslink.gov.uk