David Cameron’s Enterprise Adviser, Lord Young, is coming to Bournemouth to promote a new scheme aimed at developing more young entrepreneurs. He’s made his visit to the Bournemouth Skillset Media Academy a priority, in the week the government launches the high-profile StartUp Loan programme.
The Media Academy is a unique partnership between The Arts University Bournemouth and Bournemouth University Media School. The former Trade and Industry Secretary will be speaking to an audience of staff and students from both institutions as part of a major student employability conference.
Under the StartUp scheme launched today (Monday), minsters will hand out £82 million in small loans to help people aged between 18 and 24 to start their own businesses. They’ll receive £2,500 each on average to be repaid over five years, along with help in developing a business plan and training. The scheme will be run by partner organisations, who will decide who gets the loans, based on applicants’ business plans. Repaid money will be re-used to provide further loans.
Lord Young has also published a report to coincide with the scheme’s launch. He claims that if the UK had the same rates of new business launches as the United States per head of population, the country would have nine hundred thousand more businesses.
The Bournemouth Skillset Media Academy (BSMA) is the largest centre of professional higher education for the film and media industries in the UK. It offers some of the world’s finest education and training in the disciplines of practical creative media. Bournemouth’s reputation reaches across the planet with alumni winning the very highest accolades in film and media including BAFTAs, Oscars and Emmys.
The BSMA Coordinator Vanessa Edwards said “We are very pleased indeed that Lord Young is coming to the Bournemouth Skillset Media Academy. Our partners – AUB and BU see enterprise skills as a priority for our graduates and we’re delighted that Lord Young is giving Bournemouth such an important role in the launch of the StartUp scheme.”