YOUNG entrepreneurs were helped to launch their global company business with a £5,000 start-up loan.

Some £656,666 has been handed out to 167 start-ups in Brighton and Hove in the last 18 months.

The money has come from the Start Up Loans Company, a government-funded initiative to boost new ventures.

Multi-linguists Jack Kiely, 25, and Matt Howard, 24, met at the University of Sussex before founding LanguageNow, based in Hove, which offers translation, interpreting, proofreading, transcription, certification, desktop publishing and typesetting services.

Matt said: “I started out as a City boy, but hated it so I dropped out and went to live in the woods in France, teaching kids outdoor education.

“In the end I needed to get back into mainstream society so came back and worked with Jack on LanguageNow.

“We’ve already worked with McDonalds, universities, charities – all sorts.

“The market is really big. Lots of businesses need to operate internationally so translation is extremely important.

“There’s a lot of bad translation out there but good translation is a real art form.”

They were supported by mentor George Clayson of Mazars, who helped with marketing, financial projections, website, brand and USPs.

Another successful beneficiary of the scheme is Graeme Waters, of Evolution Studios, Hove.

Aware of the prohibitive costs of recording and rehearsing, the experienced music industry professional saw a gap in the market for high-quality commercial studio space affordable to new bands.

After banks declined to back the idea Graeme received a £5,000 loan.

He said: “I’ve always been involved in music, playing in bands or teaching others.

“In addition to welcoming new musicians and bands, we will be providing a daytime offer for 14 to 19-year-old underprivileged young people, encouraging them into music production.”

“This initiative has showed me how I could use my skills and experience in music to create a facility that will prove hugely popular in Brighton.

“My mentor was a terrific support and helped me avoid any early pitfalls. “The Start Up Loans initiative is a brilliant scheme and one that I would thoroughly recommend for young people who want to run their own business.”

The Let’s Do Business Group administers Start Up Loans in the South East.