Liberal Democrats have announced that they would give a “start-up allowance’ to help budding entrepreneurs with living costs in the first six months of setting up their business.
The policy, which will be launched by party leader Tim Farron at the Liberal Democrat Entrepreneurs Network event on Tuesday night, has been welcomed by the local Lib Dem candidate Julian Huppert.
“A number of years ago I started a small biotech company and I know just how difficult it can be to get a new venture off the ground. We should proud of the Cambridge Phenomenon and the global impact of our local entrepreneurs and innovators. I am thrilled that this policy will give new businesses in Cambridge support during those crucial early months."
Susan Kramer, Liberal Democrat Business spokesperson has said:
“Entrepreneurs are the lifeblood of a thriving economy but I know from my own time in business, the early months can be really tough. This will really help get small businesses off the ground and let the economy grow. It takes courage to set up a business, and we are on the side of entrepreneurs."
Other key policies due to be announced include reviewing controversial business rates and expanding the state-owned British Business Bank to make it easier for firms to borrow.