08-04-2008
Business Booster initiative to help London start-ups
News for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
According to Business Link, 29 out of 33 London boroughs are experiencing a growth in the number of new businesses, however only 67% of them are making it to their third birthday, whilst 91% are making it to their first.
Business Link in London hopes the findings will be a wake-up call to businesses that have passed their one-year anniversary, helping them recognise and effectively tackle the growing pains they often face.
It has launched the Business Booster initiative which is designed to help small businesses in London grow. Tim Campbell, the successful winner of The Apprentice, who has since gone on to set up his own charity, The Bright Ideas Trust, comments, “If you’re running your own business, you will know that everything doesn’t always run smoothly. You will experience growing pains, but to face the challenges, you need to think about who can help you plan for the future. No one is an expert in everything. The ‘Business Booster’ initiative provides access to a range of resources to help business develop into the companies they passionately want to be.”
Andy Berrow, Senior Business Advisor at Business Link comments, “ We found that recruitment, marketing and finance were the key problem areas for developing small business. We want to make sure that out of the rising number of businesses starting up in London each year as many as possible are making it to their 6th birthday. In reality only 20% will make it this far. Business owners can’t just put their head in the sand when it comes to growing pains. They have to overcome them and the best way to do that is with external advice and support.”
For further information about the Business Booster, visit www.businesslink.gov.uk/london/booster.