PM backs the City’s start-up business plans

DAVID Cameron will today back a campaign launched by over 60 City firms to encourage people to become entrepreneurs.

Firms including HSBC, Deloitte, Google, KMPG, BlackBerry, AXA, Coutts, Intel and Lloyds TSB are offering a package of £1,500 to every start-up that participates.

Cameron will pledge his full support for the scheme and ask the public to consider starting a business themselves.

The initiative founded by StartUp Britain is an entirely private sector led campaign to boost economic growth. The government will not be contributing any funds towards the scheme.

Cameron is expected to say: “We won’t build the future we want to see in this country if we go back to the bad old days of big government spending, big borrowing and big debt. The recovery we need is a private sector-led recovery.” A spokesperson for the Department of Business said that the government is already supporting entrepreneurs through measures introduced in last week’s Budget.

The start-up package being offered by City firms includes:

• AXA will offer 10 per cent off business insurance.

• BlackBerry will offer 1,000 free start-up guides.

Microsoft will train 5,000 start-ups in how to use technology to drive their business and marketing activities, including free technology resources worth up to £400 per company.

• Google will provide a limited amount of free advertising.

• O2 will offer one month’s free line rental.

PayPal will offer three months free fees for new accounts when signing up to a website.

• Fujitsu is offering a 30-day free trial and 10 per cent off the annual costs of its cloud computing services.

• McKinsey & Co is launching a scheme to encourage innovative graduates to start up their own business.

Campaign supporter and entrepreneur Doug Richard told City A.M. the scheme was important because: “Banks and big businesses must work with the government to inspire young businesses and give them a fighting chance to grow.”