#Business Blackpool Business start up support, New Enterprise Allowance, start up loans for young people

Business support is still available from a wide source of people.
Here in Blackpool, I provide business support from training seminars through to 121 intensive support, across a wide range of subjects. I am based at The FYCreatives centre on Church Street, Blackpool. Anyone interested in starting their own business is welcome, just contact us on 01253477147
We are not the only people in the North West though.

Orvia Group, based in Leyland are experts in Business support for nearly 30 years. Not only are they leaders in enterprise support, they can also help across Rosebud funding as well as Rosebud Evolution which is a bespoke mentoring scheme.
Orvia can be reached on 01772422242

Anyone that has been unemployed and receiving JSA for 26 weeks, an apply for NEA as below.

New Enterprise Allowance (NEA)

On 5 October 2010 the Secretary of State for Work and Pensions announced that the Government will give extra help to unemployed people who want to start their own business, through the New Enterprise Allowance (NEA).

NEA is available to Jobseekers Allowance (JSA) claimants aged 18 and over who have been claiming for 26-weeks or more.

Participants will get access to a volunteer business mentor who will provide guidance and support as they develop their business plan and through the early months of trading. Once a claimant can demonstrate they have a viable business proposition with the potential for growth in the future, they will be able to access financial support. This will consist of:

a weekly allowance worth £1,274 over 26 weeks, paid at £65 a week for the first 13 weeks and £33 a week for a further 13 weeks, and
the facility to access a loan of up to £1,000 to help with start-up costs, subject to status.
The total package of support could be worth up to £2,274 to each participant who starts their own business.

Startup loans for young people

This week the government department for Business, Innovation and Skills (BIS) announced that Business Finance Solutions, part of the Business Growth Hub, has been selected to deliver the StartUp Loans for Young People Service in the North West.

The StartUp Loans service, the first of two pilots to be announced, will be delivered by Business Finance Solutions through the Business Growth Hub and key partners, working with young people across Greater Manchester and the wider North West. The purpose of the pilot scheme is to prove that there is demand for this product and evaluate which of the Delivery Partner models work best.

Prime Minister David Cameron said: “I want this to be the year where people can think yes, I can do it, that we can get as many viable businesses as possible off the ground, that people can have a go, and that we see a whole new wave of entrepreneurs who start small but think big.

“StartUp loans are a fantastic opportunity for young people, not only to get the financial support they need, but also to give them the confidence to believe they can do it, that they can turn that of an idea into the next global brand.”

The £82.5million scheme will give the next generation of entrepreneurs the finance and support to potentially start over 30 thousand new businesses, in a move to boost enterprise and economic growth. Any young people aged 18–24 accessing the StartUp Loans can expect to receive expert and personal support to help develop a business plan and access training.

Where the business plan is robust and approved, they will be able to access financial support in the form of a loan typically in the order of £2,500 with a repayment period of up to five years.

Business Finance Solutions (BFS) was announced as the partner at the official launch of the service, which took place on Monday 28th May with Lord Young and entrepreneur James Caan. Lord Young previously launched the £10m earmarked for up to 10 Pilot areas with an additional £32m next year and £40m the following year.

Paul Breen of Business Finance Solutions said: “We are very pleased to have been successful given the highly competitive nature of the bidding process and the very clear fit of this product with the Business Finance Strategy in Greater Manchester and the range of business finance products we are developing through the Business Growth Hub.

“These loans give young people an incredible opportunity to start their own business, access government and private sector support, transform their enterprise potential and become a key driver of business growth in the region.”

The UK Startup Loans is a major new addition to the Business Growth Hub’s range of business finance products, which include; Access to Finance, Small Loans for Business, the Manchester Loan Fund and North West Business Angels. All of these products will be showcased at the Financing Business Growth Event on the 3rd July, at the Bridgewater Hall in Manchester.

The Growth Hub also provides access to wider business support through the Manufacturing Advisory Service (MAS), UKTI’s international trade programme, Investors in People, ENWORKS, mentoring and manufacturing Apprenticeships programmes.

Information about Startup Loans and the Financing Business Growth Event can be found on the Business Growth Hub website http://www.businessgrowthhub.com by emailing info@businessgrowthhub.com, calling 0161 359 3050.

The Princes Trust
The Prince’s Enterprise programme
The Enterprise programme
The Prince’s Trust Enterprise programme supports unemployed young people aged 18-30 to work out if their business ideas are viable and whether self-employment is right for them.

Depending on the outcome of this process, the programme can then offer mentoring support and, for those that really need it, financial support to start a business or mentoring support to secure goals in employment, education or training.
Is it for people like me?
The Enterprise programme is for people who:
Have a business idea they want help to explore
Are aged 18-30
Are unemployed or working less than 16 hours a week
Live in England, Wales, or Northern Ireland

If you are all of these things, get in touch with the Prince’s Trust via their website?

Advice on employment options
Business skills training
Business planning support
Start-up loan funding
Ongoing support from a volunteer business mentor
Access to specialist support, including free legal helpline supported by DLA Piper
And, if you start a business, access to a wide range of free and discounted products and services.

Note: Participation in the Enterprise programme does not guarantee that start-up funding will be awarded. Applications for start-up funding are assessed in relation to a number of factors including perceived risk, business viability and individual need.
How can You apply?
Availability of the Enterprise programme is subject to local funding restrictions. To find out whether the programme is running in your area, please submit your details using their online form and a member of your local team will get in touch.
Online Support
They have put together materials to help you to start planning your business. These include a set of 12 guides and a business plan pack.
Please note these schemes do not operate everywhere, and you should check their websites for more information
Please do not hesitate to pass on my details if you know anyone in Blackpool that wants to start a Business.
As always, Geoff Reeves, FYCreatives, Blackpool 01253477147


3 thoughts on “#Business Blackpool Business start up support, New Enterprise Allowance, start up loans for young people

  1. Are there small start up grants available if you are not long term unemployed? Or have a student status. Im in the final year of my degree. Thanks Geoff. By any chance did you used to work for Coca Cola?

    • Karl, thank you for your message. Firstly, yes I was with Coca-Cola for 28 years. On the grant loan front, if you are at uni I am not aware of any additional schemes to your government student loans. The young persons Loan scheme I mentioned I do not think applies if you are in full time education.the Princes trust only operates in funded areas. I would drop them an email, worth a shot, but your education goes against you. Are you local to me? If you are let me know. Sorry not positive response, Geoff

  2. Thanks Geoff! I sent you this message before yesterday where I attended your fantastic business start up session! A grant would be a huge help but it’s made me be more innovative in starting and sustaining a future in business!

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