Transform the Start Up Loan scheme to be more like student loans, but for entrepreneurs: Government-backed, low interest, unsecured loans available to anyone, at any age, who wants to start a business. Like a student loan, the entrepreneur loan only becomes repayable when you earn enough.
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The number one barrier to starting a business is lack of money. Ordinary working people cannot risk quitting their jobs, defaulting on mortgages, and plunging their family into poverty in order to pursue their aspirations. We are a nation of creative entrepreneurs at heart. Yet so much of that talent is wasted. We need to uncork that energy and offer everyone, no-matter their walk of life, the opportunity to build something incredible. It is a national economic imperative. It's social mobility for a generation and rocket fuel for our economy.