According to the Yichang Municipal Bureau of Labor and Employment, an accumulated start-up loans of 80.1 million yuan have been issued to support 1,301 young entrepreneurs, contributing to create posts for nearly 3,000 employers since Yichang has launched the Business Start-up Loan to College Graduates in 2008. In addition, Yichang has also provided convenience for the entrepreneurship of college graduates through various channels including offering lump-sum grant for college graduate enterpreneurs.
College graduates who start business in Yichang can apply for a small-sum guaranteed loan of 150,000 yuan within three years of graduation except for in some restricted trades. The loan can be raised to 500,000 yuan if college graduates start in partnership, with two-year loan period and full interest subsidy by the country.
Moreover, Yichang has carried out water and electricity subsidies at the sites of business incubators to arouse the enthusiasm of college graduates to start up businesses. (Reporter Wang Shuzhi, correspondent Wei Lihong)