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Sources of Business Start-Up Support

Sources of Business Start-Up Support | Ashored Bookkeeping and Accountancy

Introduction

There is a wide variety of national and local schemes that support new business start ups. Some are UK-wide, while others are only available in specific areas, or restrict support to particular demographics, such as people in certain age groups.


Support ranges from signposting clients to other sources of specialist help, to the provision of one-to-one advice, loans and grant funding, or training workshops and events.


Here we provide information about the types of business start-up support available in the UK, and some of the organisations that run the various schemes.


National support schemes

Nationally available support is provided by a variety of agencies and organisations. However, support is usually targeted at people who fall into specific age groups, or who are unemployed.


Start Up Loans provides loans of up to £25,000 to people in the UK aged 18 or over to help them start up or develop a business that has been trading for less than 36 months. Free business-planning advice is provided to successful applicants, together with mentoring and support.


Tel: 0344 264 2600


The Prince's Trust Enterprise Programme supports young people anywhere in the UK who are aged between 18 and 30, unemployed (or working less than 16 hours a week) and have a business idea.


The Prince's Trust provides training, one-to-one help to produce a business plan, and ongoing business support and mentoring. It can also provide individuals with a low-interest loan of up to £25,000.


Tel: 0800 842842


Regional business support

Support for start ups in England


Growth Hubs provide a 'single port of call' for business support across England. The hubs are Government-funded and typically provide one-to-one advice, information and guidance, training and help to access funding.


Go to www.lepnetwork.net/growth-hubs for a directory of Growth Hubs in England.


Support for start ups in Scotland

Business Gateway provides one-to-one advice, training and information for business start ups through its network of business support centres, which are located all over Scotland. Business Gateway also provides free information and resources such as business plan templates, articles and case studies on its website.


Tel: 0300 013 4753

Website: www.bgateway.com


Scottish Enterprise is an economic development agency funded by the Scottish Government. It provides information about grant and loan funding, runs training events, and operates a helpline and website providing advice and information.


Tel: 0300 013 3385


Highlands and Islands Enterprise (HIE) is the economic development agency covering the Scottish Highlands and Islands. It provides support and access to funding, as well as sector-specific support for sectors such as tourism, creative industries, and food and drink. It also provides dedicated support for social enterprises. HIE operates out of 13 regional offices located across the Highlands and Islands.


Tel: (01463) 245245

Website: www.hie.co.uk


Support for start ups in Wales

Business Wales provides face-to-face business support at four regional centres. It also runs training events, provides information about grant and loan funds, and operates a helpline and website providing advice and information. Advice on starting, running and growing a business is provided, and sector-specific support is available for sectors such as tourism, creative industries, food and farming, and digital.


Tel: 0300 060 3000


PRIME Cymru (the Prince's Initiative for Mature Enterprise in Wales) supports people aged 50 or over in Wales who want to become or remain economically active and start their own business. It provides access to business training and workshops, online support and resources, and ongoing mentoring.


Tel: (01550) 721813


Support for start ups in Northern Ireland

Invest Northern Ireland is Northern Ireland's regional development agency. It provides help in accessing start-up funding, and specialist support for innovative businesses with high growth potential. Invest NI offers research, funding and marketing support to businesses looking to sell outside Northern Ireland and to those that intend to develop new products and services.


Tel: 0800 181 4422

Website: www.investni.com


nibusinessinfo.co.uk is an online resource that provides advice, guidance and information to start ups across Northern Ireland. Business guides on specific sectors are also available for sectors such as tourism, construction and creative industries.


Tel: 0800 181 4422


Local business support around the UK

A variety of locally based business support organisations deliver a range of schemes to support new and expanding small businesses. Most provision includes business advice, training and mentoring, and access to some form of financial support. However, availability of support varies depending on location.


Local enterprise agencies and enterprise trusts

Local enterprise agencies are not-for-profit organisations that provide independent and impartial advice, training and mentoring, as well as access to grants and loans for pre-start, start-up and micro-businesses. Those agencies that do not provide funding themselves are able to signpost to other sources of financial support.


Enterprise agencies also specialise in providing one-to-one coaching, along with advice and training on topics such as business planning, marketing and financial forecasting.


The National Enterprise Network (www.nationalenterprisenetwork.org) is the key membership body representing not-for-profit organisations that provide independent business support in England. It has an online tool to help anyone looking for local support (www.nationalenterprisenetwork.org/directory).


In Scotland, local enterprise agencies are referred to as 'enterprise trusts' and are located around the country. An example of an enterprise trust in Scotland is Elevator (www.elevatoruk.com).


In Wales, local enterprise agencies are independent organisations located throughout Wales. Menter a Busnes (www.menterabusnes.co.uk/en) is an example of an agency operating in Wales.


In Northern Ireland, local enterprise agencies are co-ordinated by Enterprise Northern Ireland (www.enterpriseni.com). It has an online tool to help anyone looking for local support (www.enterpriseni.com/councils)


Business reference libraries

Business reference libraries in most of the UK's major towns and cities provide a variety of business information, advice and guidance to people who are interested in starting their own business.


The British Library Business & IP Centre in London provides an extensive range of business and start-up support services, including workshops and training events, business information and resources, and expert advice sessions.


A network of Business & IP Centres has been established through a collaboration between the British Library, the Intellectual Property Office and 21 libraries outside of London. Each library has its own Business & IP Centre offering a range of facilities, information and support, with a particular focus on intellectual property. Go to www.bl.uk/business-and-ip-centre/national-network for more information.


Responsible finance providers

Responsible finance providers are independent not-for-profit organisations that specialise in providing finance and support to new and growing businesses and social enterprises. They support small businesses and start ups anywhere in the UK that are looking for non-bank funding.


Go to www.findingfinance.org.uk for a national directory of responsible finance providers.


Universities

Many universities in the UK provide start-up support to their students, graduates and staff, as well as training and events, funding and access to incubator workspace. A number of universities also run enterprise competitions which students can enter to win funding and a business support package.


CitySpark at City, University of London (https://cityventures.co.uk/whats-on/cityspark/) is an example of a student enterprise competition.


Local authorities

Most local authorities provide signposting to sources of advice, support and funding for start-ups and small businesses. Some local authorities also provide one-to-one business advice and funding, along with support via their business centres and other managed workspace.


Go to www.gov.uk/find-local-council for a directory of local authorities.


Contact Ashored for information and support with your business start-up.

Contact Ashored Bookkeeping and Accountancy | Truro Cornwall

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