Small and medium sized businesses in London have access to a range of government-backed initiatives that support business development and growth. From loan programmers to mentoring initiatives, these schemes are designed to develop capacity, improve access to financing and support innovation. They are also important tools to help entrepreneurs and managers interested in developing business ideas and expanding their business.
Start Up Loans
Start Up Loans is a government funded scheme that provides loans and business mentors for entrepreneurs. The Start Up Loans Company is regulated by the Financial Conduct Authority and was originally created within the Department for Business, Innovation and Skills. Launched in 2012, Start Up Loans has lent more than £85 million to over 16,000 businesses across the UK. Entrepreneurs looking for other financing sources beyond banks and business grants may apply for loans of up to £15,000. In addition to financing, successful applicants have access to a business mentor and other support services.
Delivery partners work with entrepreneurs to develop their business plans and find mentors. Partners in London include Start Up Direct, East London Small Business Centre, South London Business, Connect London, NWES (Virgin Startup), Bright Ideas Trust, Financing Start-up Enterprise, TrainE-TraidE, Kaleidoscope, Fashion Angel and HBV Enterprise. For more information about Start Up Loans and to apply for funding, visit www.startuploans.co.uk. Continue reading “Top Government-Backed Initiatives for SME’s in London”