Nearly 40 per cent of new business owners are unaware of any of the various support schemes that are available to them.
This is according to a new survey from RBS, which asked more than 3,500 small business owners whether they knew about 19 of the support schemes aimed at start-ups available in the UK.
No single scheme had an awareness rate of more than 43 per cent. Awareness for some schemes was as low as 1 per cent.
With bank finance increasingly difficult to come by, many new business owners are looking to the other public and private sector organisations for support. So what are the key government packages identified in the report from which you could benefit?
1: Startup Loans
Startup Loans are the government’s flagship entrepreneur support scheme. Under the programme the government is offering loans and support to those starting businesses, and those whose firms are less than a year old. The loans are offered on comparatively flexible and generous terms. Read more about Startup Loans.
2: Startup Britain
Startup Britain aims to “celebrate, inspire, and accelerate enterprise in the UK.” It runs a range of workshops and touring events during which entrepreneurs can get help and advice. In addition, Startup Britain runs a series of pitching days, offering manufacturers and suppliers the opportunity to pitch to major High Street stores including John Lewis.
3: Global Entrepreneurship Week
As the name suggests, Global Entrepreneurship Week is a full week of events held across the world, celebrating and supporting entrepreneurship. In the UK GEW events are conducted in partnership with Barclays, and are intended to improve awareness of the various support schemes available to the UK’s small businesses. The 2014 GEW will take place between 17 and 23 November.
4: Goldman Sachs 10,000 Small Businesses
This scheme provides “high-quality, practical education and business support to leaders of high-growth small businesses and social enterprises across the country.” The selective programme offers business owners around 100 hours of tuition and learning, and connects participants with established business leaders. During the course of participants’ time in the programme, they will develop a personalised Growth Plan.
5: Barclays Get Ready For Business
Get Ready For Business is a series of seminars organised by Barclays, that provide guidance on writing a business plan, managing cashflow, and meeting tax obligations. The seminars are free, and can be thought of as similar to the personal support offered by the Startup Loans delivery partners.