Enterprise Nation

Let’s call them the Yikely Lads … Alan Young and David Wike met in the Enterprise Nation forum and have come together in a helpful alliance to write this piece on free business support for home business owners. Thanks, lads!    

Free! Business Support

Following on from a forum discussion, for the benefit of all readers, I thought it might be useful to outline some sources of free business assistance.

Anyone considering starting a business or in the early stages of their business should take a look at Business Link. Business Link is government funded and provides impartial advice and assistance. For a start, there is a huge amount of information on their website. However, it is also worth making contact with your local area Business Link – you can find contact details via the main site.

The precise nature of the services offered varies from region to region but can include:

• Short business start-up courses that cover the business basics. If nothing else, a start-up course may help you to understand the areas in which you may need further advice or assistance.
• A visit from an advisor who can review your business and, if appropriate, recommend other support. This could include identification of any grants or start-up funding that might be available in your area.
• Mentoring from an experienced business person. It is worth noting that mentoring has been proven to increase business survival rates significantly.

In my own area - West Midlands/West Mercia - the Business Link mentoring scheme is provided by Midwest Rural Enterprise. You can approach them directly if you prefer and they will always signpost you to the most appropriate and cost effective support mechanism to meet your needs.

If you are between 18 and 30 and are looking to start a business but can’t get commercial financing because you don’t fit the banks’ image of a business person, you may be able to receive a small start-up loan from the Prince’s Trust. Funding availability varies by area so you will need to talk to them to establish whether there is a business start scheme in your area. If the Trust does make you a loan you will be allocated a business mentor automatically.

A final thought on business advice or mentoring: some people ask for help a little too late. So don’t delay, ask today!

• David Wike
• Alan Young