CASH to help parents on Oxford’s largest estate become the next Lord Sugar is up for grabs in the new year.

The Leys Children’s Centre is offering families the chance to boost the amount of cash in their purse by trying their hand at setting up a small business.

Loans of up to £1,000 will be available to successful applicants until March next year.

Children’s centre manager Jenny Martin is convinced parents can improve their bank balance by starting up on their own.

She said: “It’s clear that for many people on the Leys now that unemployment is rising, developing a small business, such as ironing, lawn mowing, might be the only way forward. The jobs just aren’t there. It takes the staff a third of the time it used to display the job advertisements. People might be thinking about a small business using a special skill they have and getting out there on their own. It might be something people have thought about for a while but not had the drive or the push to take that first step.

“This is the chance to realise a dream.

“A lot of women do childminding for a period of time, for example, because they can work from home, it’s flexible and it can be built around their home life.

“Blackbird Leys is a big estate and we know there are people who have lots of skills to offer. It’s a strong community and I think people would like to support other people if they want to strike out on their own.”

Successful applicants will be linked with a business support expert from the Business Women’s Network, set up last year in Blackbird Leys, and the Oxfordshire Council for Voluntary Action. If the pilot scheme proves worthwhile it could continue.

Priority will be given to parents or carers of children under five and any applicant must live on the Blackbird Leys estate.

Details of repayments will be finalised in the new year.

Anyone interested in the loan should call Mikko Enticknap or Jenny Martin on 01865 779615.

Local businesswoman and mother-of-one Katie Chester, of Pine Close, Blackbird Leys, said: “Starting a business in a recession is challenging, but on the other hand, there will be less competition and you may be able to negotiate better deals on your materials or on premises.

“If you can establish a business in an economic downturn you’ll be very well placed for when the market picks up again.

She added: “It’s great news that the children’s centre is able to offer loans to local people to set up a business.

“It may make all the difference to a young mum ready to start work again after having children.”