smallbusiness.co.uk: Helping your business think big

Lord Peter Mandelson has given the go-ahead for a new £35 million scheme to create over 12,500 new businesses in the north-west.

Business secretary Mandelson visited the region today to officially launch the project, saying the new funding will give entrepreneurs a chance to get their company off the ground.

'Nurturing and protecting start ups and young businesses through this downturn will lead us into the upturn that will follow,' he adds.

Mandelson also says the government will not make the same mistakes it did in previous recessions.

He says that regional development agencies should take the lead role in helping local firms.

Steven Broomhead, chief executive of the Northwest Regional Development Agency (NWDA), says the programme will give people with a business idea the expertise to put their concept into practice.

He adds it is important to maintain optimistic realism in 2009 in order to support the economy.

Under the programme, budding company owners will be given a specialised package of support, training and advice, led by Business Link Northwest.

Funding for the project came from the NWDA and the European Regional Development Fund, with local authorities also being able to add to the money pot.

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