Conservatives - Encouraging Entrepreneurship

[lee13]

Hello all,

I just came across a video on the Global Entrepreneur Week website of David Cameron, I can't post the link here due to my low post count! But if someone could look it up and post it below, that would be great.

A bit of background info...

3 months ago, I became unemployed. I decided that this was the perfect time to set up my own business.

I set up a window cleaning business as a sole trader. I'm a little confused as to what exactly The Conservatives are putting in place to actually help young entrepreneurs such as myself?

For example, I recently approached The Princes Trust however, as I hadn't been unemployed for 3 months, I wasn't eligible for funding. Now, I know they are a charity, but they have relied on donations from the government in the past.

I've also approached my business banking manager, who has informed me I would need to write a full business plan, cashflow forecast sheet and provide 50% of the capital I wish to raise upfront from savings, and even then there is no guarantee that I would get funding as I haven't traded for longer than 12 months.

What I'm trying to explain here is that there doesn't seem to be any help in the middle. He mentions NI is scrapped in certain areas of the country, where can I find out if this applies to me?

Thanks all

 

[RedEvo]

I'm not sure what are you asking? What are you looking for funding for?

d

 

[lee13]

What I'm asking is...

What exactly are the government going to do to encourage entrepreneurship?

I've just read in the GEW report 'Make a job don't take a job'

''Increased investment in enterprise education to encourage young talent; support to help new companies get started; easier access to finance and seed capital for early stage businesses; and improved mentoring for entrepreneurs as they start to grow are just some of the issues raised.''

Easier access to finance seriously needs to be looked into, as I explained above it's proving incredibly difficult to get my hands on a couple of grand, which I need to purchase a van.

 

[RedEvo]

It's worth nothing that retail banks don't take risks. They lend money only if they are guaranteed to get their money back, it's your job to show they will get their money back. If you can do this you will be quids in, literally.

Grants are rarely available unless you can show you will be creating employment (not just for yourself but others too) so it's your job to show how you intend to grow your business, employ people and create jobs. Hence the request for the business plan.

There's very rarely if ever any money available for someone who wants to buy some equipment to allow themselves to turn a crust, this might seem unfair but it's how it is and pretty much how it's always been.

d

 

I'm not really sure what you are expecting.

If the Government started dishing out start-up grants, everyone would start a business which would go bust as soon as the grant money ran out.

You have to do what all businesses did before the banks went stupid - spend your redunancy/savings/inheritance on a tatty old van and get rolling. Your business is low capital & cashflow-positive, so you shouldn't need a grant or bank funding.

 

[Andy Walpole]

If you wait for the government to come and help you Lee you'll be waiting a long, long time

You need to find yourself some professional help. It's unlikely that the banks will help you with a loan.

Get in touch with the National Federation of Enterprise Agencies and they'll point you in the direction to the right organisation in your area: http://www.nfea.com/

 

[lee13]

I think you'l find all start ups, whether they are cashflow positive or not still require some sort of initial funding.

My point is that the government are constantly saying how they are funding new enterprise making it easier for people to get start up loans and advice. As a result of this the government are predicting the most entrepreneurial decade ever. How can this be the case when I'm a typical example of a young entrepreneur who is unable to obtain start up funding of around £2k!

Perhaps if I was unemployed for a year, sat around taking tax payers cash, then I would be entitled to some sort of funding as it would help me back into work.

Anyway, onwards and upwards, I've had a great day today, and a few more of them and I would have made the money myself.

Thanks all, and thanks Andy for the link

 

[nextdayprint]

I agree that it is a shame that it is so difficult to get financial assistance to start a business. However, in terms of the information the bank requires to consider loaning you some money, I think that is perfectly fair, if you can't put the effort into creating those documents then do you really think you will put it into making your business a success -and hence creating the revenue to repay the loan?

As for grants, they should only be available for startups that create positive employment and have potential to develop the economy. I mean whats the point in financing a window cleaning startup from grant money when it will inevitably be competing against existing businesses and in all likeliness threatening their livelihoods?

Just my 2p

On the flip side, good luck with the business, and glad to hear you are getting up and doing something rather than joining the parasites at the feast.

 

[KidsBeeHappy]

My point is that the government are constantly saying how they are funding new enterprise making it easier for people to get start up loans and advice. As a result of this the government are predicting the most entrepreneurial decade ever. How can this be the case when I'm a typical example of a young entrepreneur who is unable to obtain start up funding of around £2k!

The longer you survive in business the more you'll hear this one being dragged out again and again and again, at a minimum at least every year during the budget.

In reality, it's adds up to basically three things;

• Enterprise grants for really big international companies that want to move to the UK to save costs. THey will move out of the UK once the grant ceases, but heyho, lets not worry about that.....
• Tax relief for multinational pharmaceutical and other companies that have multi million pound R&D projects, and who wouldn't be paying tax anyway because they're investing and capitalising all costs, and so not making any profits.
• A load of ineffectual agencies sitting on the high street, and in your local council offices offering business advice, staffed by the person that you're least likely to ever take business advice from, a local government worker that's never had to work within deadlines or budgets or cashflows, or ever had to worry about concepts like break even and profit.

But the government do so love to talk about it.

 

good luck fella,you will not get funding for a van from any agency though mate funding for transport is not something you can ever get so it seems.
Business link may be able to send an chap to have a chat for a bit to see they can help out, some are ok others not so good .
dont hold your breath for much help though mate, i started with no funding or help £50 and a bag full of tools that was 12 years ago hang in there and good luck

 

[lee13]

Nextdayprint - Thanks for your comments, however you really have no idea what plans I have for my business. I do in fact have plans to create new jobs and still there is no funding available.

In regards to the banks, I completely understand their position also, however if you had read correctly I am not having a pop at them!

I think I have proven the fact that the government are offering no help at all, even though David Cameron is saying 'Create a job, not take a job' (Which is exactly what I have done) There is still no funding or support available!

Cheers sandiep and Chris, like I said before, I'll have to do it alone as it seems!