Turning ideas into businesses

3:34pm Saturday 29th March 2008

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IT all started with the sub-prime mortgage scandal in the United States but the shock waves of the so-called credit crunch are now definitely with us.

This and the currency fluctuations that have come with it are already causing worries and belt-tightening in the business community.

In an area like East Lancashire, which has had more than its fair share of economic problems over the years with the decline of manufacturing industry, the creation of new jobs is doubly important in times like these.

That's why something like No Limits - a Government-funded initiative to encourage enterprise - is so important.

In just six months the programme has helped to create 250 new businesses in East Lancashire by providing finance and training to budding entrepreneurs.

Such support is crucial to enable people to turn their business dreams into reality and, whereas in the past such schemes have suddenly been axed by governments, this one seems to have funding in place at least until 2011.

There are many examples of small firms that have become big businesses thanks partly to the right assistance and encouragement when it was needed. It is important for all our futures that efforts are solidly backed.