David Cameron delivered his rallying cry to young business people in the city

Preston’s young entrepreneurs got their chance to bid for funding in front of the Prime Minister last week.

David Cameron made a visit to the University of Central Lancashire to announce an additional £30 million in start-up funding.

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Part of Mr Cameron’s visit involved hearing pitches from new businesses based at the city university.

Prime Minister David Cameron said: “Start-Up loans are an important part of my mission to back aspiration, and all those young people who want to work hard and get on in life, so this country competes and thrives in the global race.

“They are a great way to help this next generation of entrepreneurs get the financial help – and the confidence – to turn that spark of an idea, into a growing, thriving business.

“It is by backing our entrepreneurs and championing small business that we can drive forward and grow the economy, and equip this country for the highly competitive era we are in.”

New businesses had a chance to explain why they should get funding

The Start-Up fund now totals £110m over three years and UCLan students were eager to grab a slice of it.

Mr Cameron was joined by Dragon Den’s star and businessman James Caan.

He took part in hearing pitches from students and new businesses who wanted to take their business on, many of them based in the Northern Lights business incubation unit in the Media Factory.

James Caan was in the audience to offer guidance

Mr Caan said: “There has been a major shift in the way business is viewed by the public, and entrepreneurs are now seen as creative and exciting role models; and I am delighted to see that more and more young people are now looking to set up their own business.

“It is only with this renewed focus on youth entrepreneurship, that we will create more jobs and wealth and see the economy flourish once again.”

Do you run a start-up business in the Preston area? Is enough being done to help new businesses flourish? Let us know in the comments below