Connect with us

Hi, what are you looking for?

Top Stories


Huge boom in over 50 year old entrepreneurs with Start Up Loans providing over £140m of finance to fulfil start up dream

<?xml encoding=”utf-8″ ?????????>

The surge in entrepreneurship among individuals aged 50 and above post-pandemic has led to a significant milestone for Start Up Loans, a part of the British Business Bank.

Since its inception in 2012, Start Up Loans has provided over £140 million in loans to entrepreneurs aged 50 and above, supporting a total of 13,422 loans, with an average value of £10,427.

During the Covid-19 pandemic, almost half of this funding (£64 million) was delivered, with 4,664 loans issued since April 2020, amounting to £63,928,454 in value. Interestingly, the average loan value per business during this period increased by over £2,600 compared to the four-year period before the pandemic, now standing at £13,707.

In the fiscal year running from April 2023 to March 2024, Start Up Loans provided over £13 million in loans to individuals aged 50 and above, contributing significantly to national efforts aimed at stimulating economic growth and encouraging this demographic back into the workforce.

The financing provided by Start Up Loans has largely benefited businesses outside of London, with 85% of the loan value deployed outside the capital. Particularly, the North West region received the most financing outside of London and the South East, amounting to £16 million.

Eduardo Barreto, founder of Boy Next Door Productions, is one of the entrepreneurs aged 50 and above who benefited from Start Up Loans. His production company received a £10,000 loan, enabling him to produce successful shows at The Arcola Theatre. Barreto emphasized the importance of both the loan and the mentorship provided by Start Up Loans in helping him achieve his business goals.

Richard Bearman, Managing Director of Small Business Lending at Start Up Loans, highlighted the program’s commitment to supporting entrepreneurs of all ages, emphasizing that individuals can pursue their business ambitions at any stage of life. Start Up Loans offers loans of up to £25,000 at a fixed interest rate of 6% per annum, along with 12 months of free business mentoring.

Overall, Start Up Loans’ milestone underscores the growing trend of entrepreneurship among older individuals and the program’s role in facilitating their business ventures, contributing to economic growth and innovation.

You May Also Like


As the world seeks sustainable and energy-efficient solutions for heating and cooling, the heat pump market is experiencing a significant surge. According to the...


The introduction of aggressive climate objectives by global economies and growing prospects for reducing carbon emissions are driving the growth of the district heating...


In the dynamic automotive sector, consistent growth of the electric vehicle (EV) charging industry has become increasingly evident. Consumers and businesses alike are recognizing...


With a higher focus on sustainable living in modern architecture, the building automation systems (BAS) industry stands as a beacon of innovation. These systems...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 Secrets Of Richdads. All Rights Reserved.