A COMPANY in Okehampton has launched a new project aimed at helping young entrepreneurs to set up businesses or develop an existing business.

The project by the DR Company will provide funding of between £2,000 and £10,000 for up to 40% of the project costs, and up to one day of one-to-one advice tailored to the particular business needs.

Fiona Edwards from the DR Company 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 county to larger economic centres.'

The project has been developed by the DR Company and is being supported by BIP, an Enterprise and Business Support agency.

The majority of the funding comes from the Greater Dartmoor LEAF and the South Devon Coastal LAG and is part-financed by the European Agricultural Fund for Rural Development: Europe investing in rural areas.

The funding is available in the Greater Dartmoor and South Devon Coastal areas. If you are between 18 and 30 and are interested in applying for funding, contact Fiona on [email protected]">[email protected] or call 01837 658643. For more information visit http://www.drcompany.co.uk">www.drcompany.co.uk