A NEW funding project has recently been set up to support young entrepreneurs in West Devon and the South Hams.

The Young Business Growth Fund, a new project developed by the DR Company, supports young people with strong business ideas to set up new businesses or develop an existing business.

Grants of between £2,000 and £10,000 are available alongside a day of one-to-one advice tailored to the individual's particular business needs.

Its first grant was recently awarded to a young entrepreneur who left school less than three years ago and started a career as a design and website developer building a successful business PJ Studio|Creative Media.

Fiona Edwards, of the economic regeneration company DR, said: 'There is a growing need to offer additional support to young people if we are to have great British entrepreneurs in the future.

'Young people have seldom had such a harsh economic and social environment in which to risk setting up their own business venture.

'We want to encourage our potential high achievers to complete their economic activity in Devon and try to halt the flow of our bright young people out of the country to larger economic centres.'

Anyone interested in applying for funding should contact Fiona at the DR Company by email on [email protected]">[email protected] or by phone on 01837 658643.