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Labour would back young entrepreneurs

NZ NewswireNZ Newswire 8/04/2016

Labour party leader, Andrew Little. © Getty Image Labour party leader, Andrew Little. Labour is promising to give young entrepreneurs $20,000 start-up grants if it wins the next election.

The 18 to 23-year-olds would also be given training and a business mentor to help them get their ideas off the ground.

Labour leader Andrew Little says the scheme would be capped at 100 entrepreneurs a year for the first three years.

"The changing nature of work is creating a new generation of smart, innovative young Kiwis who need nurturing and capital," he said on Friday.

"There are many barriers to young people accessing finance to back good business ideas ... today's young people are growing up in an environment that promotes entrepreneurial thinking in ways older generations did not."

An independent panel of experts would approve business plans.

The scheme is a follow-up to Labour's flagship policy of three years free tertiary education.

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