We’re thrilled to announce that Virgin StartUp has reached an amazing milestone – we’ve funded 1000 startups since our inception in late 2013.

That’s over 1000 entrepreneurs given the opportunity to follow their dream, over £10m of loans provided to fledgling businesses, and to top it off, over 30,000 hours worth of mentoring given to the entrepreneurs behind these businesses.

Research from the StartUp Loans Company indicates that for every £1 loaned to a startup business, the economy gets £3 back – a return that’s helping the wider economy, as well as changing individual lives.

The 1000th loan went to entrepreneur Tim Perkins of Nudge Global – an innovative financial education service that helps people make better budgetary decisions. Tim received £25,000 to help take his business to the next level.

We’re proud of the entrepreneurs we support, but we know there’s still more to do. 55% of all SMEs still don’t survive beyond five years, 61% of business owners say they lack confidence in their ability to achieve three years’ growth, and more than a third believe there’s not enough government support.

We want to call on the government to do more to help entrepreneurs, so that startups all over the UK can get the support they need to start up, stay up, and scale up. Startups are our future – so let’s invest in mentoring hours, advisors and the financial help they need to drive the UK forward.