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Start-Up BusinessAccess to Cash and Kind
Yvonne O’Donovan
Yvonne O’Donovan
• Why me?
Music
Media
Art
Food
Oil n Ships
Electrics
Buildings
Yvonne O’Donovan
The main blockage to you starting up is not
Access to cash
Access to support
Lack of ideas
Making losses
NO: The main barrier to success is YOU
Yvonne O’Donovan
Company A• Over-confident, under-disciplined
Company B• My mates are great, who needs to write
stuff down
Company C• Over-reliant on others to tell us what to do,• Not strong enough to say no to the money• The piper calls the tune
Yvonne O’Donovan
Ideas People
Money
£££ $$$
Materials
What How
many
For who How
Where
Quality
Buildings
Stock
Equipment
Yvonne O’Donovan
Finance (Money/Cash/Dosh/Investment)
Sources (where from)
1. Yours
2. Your family
3. Your friends
4. Your neighbours/community/area
5. Your town/village/city
6. Your region/nation
7. Your continent
8. The universe
Yvonne O’Donovan
• Finance (money/cash…etc.)
Types• Loans• Shares• Investments• Grants• Gifts or Donations
Yvonne O’Donovan
• Finance
For what?
Capital (Premises, Equipment … )
People
Product Development
Grants: eligibility
There are a number of factors which could affect your eligibility for a grant.
1. Location
2. Size of your turnover or the number of employees. Many grants are limited to small or medium-sized enterprises - typically those with fewer than 250 employees.
3. Your industry
4. The purpose of the grant (Grants are often awarded for a specific purpose such as purchasing machinery, improving offices, increasing employment or developing export markets. Grant bodies prefer to see specific targets and results, compatible with their own objectives
As well as making an assessment of the benefits of your project, the awarding body will expect a high level of commitment from you and your business and for the project to be commercially viable
Yvonne O’Donovan
Support for specific groupsThere are other organisations aimed directly at specific groups to help with business and funding support, for example:1. Women : Prowess gives details of all women's business support organisations by
region. 2. Mature people : The Prince's Initiative for Mature Enterprise (PRIME) is an
organisation aimed at assisting entrepreneurs over the age of 503. People with disabilities : The Disabled Entrepreneurs Network has produced a
booklet called 'Setting up in Business: A Resource guide for disabled people and their advisers'. This includes information about tax, the Access to Work scheme, business planning, courses, grants, finance and working from home. To get a copy, send an email to [email protected]. Disability charity Leonard Cheshire and easy Group chairman Sir Stelios Haji-Ioannou run an annual award for an exceptional disabled entrepreneur. See the Leonard Cheshire Disability website.
Yvonne O’Donovan
1. ethnic minorities - the Asian Business Network (ABDN) helps minority ethnic (ME) businesses to develop, by sharing best practice and improving opportunities. The African Caribbean Business Network (ACBN) helps African and Caribbean owned businesses in the UK
2. young people - if you are aged between 18 and 30, the Prince's Trust Business Programme may be able to help you with a low-interest loan. Shell LiveWIRE Grand Ideas Awards offer up to five £1,000 prizes a month to the most innovative and unusual ideas submitted by young entrepreneurs aged 16-30 with new businesses in their first 12 months of trading
3. You can also consider applying for a Professional and Career Development Loan to help improve your business skills before or after starting up a business. This is available to anyone and is a deferred repayment bank loan aimed at financing the training and qualifications that will help individuals further their career or business.
•
Websites
Other Useful Sites:
www.j4bgrants.co.uk
www.uktiyh.org.uk
www.businesslink.gov.uk
Smarta.com
Businessballs.com
Mindtools.com
Acas.org.uk
www.mbdltd.co.uk
www.keynote.co.uk
www.direct.gov.uk
www.hmrc.gov
Neighbourhood.statistics.gov.uk
www.entrepreneur.com
www.ipo.gov.uk
Yvonne O’[email protected]
