There are a number of companies around which can offer financial support and business advice to help you get your idea off the ground.
The Princes Trust provides support and funding to help young people explore and test their ideas, write plans, start their own businesses or achieve other goals in education, training, work or volunteering. Their support is offered in four stages:
- Information Session
This short session will outline and explain the programme to ensure it is exactly what you’re looking for
- Explore Enterprise Course
You will be given a specific amount of time to learn about the topics relevant to planning and running a business in order to help you decide whether self-employment is right for you
- Next Steps
You will receive one-to-one sessions to support you in deciding and planning your next steps. Grants are also available to help you explore and action your ideas
- Mentoring and Financial Support
To assist you further with your chosen outcome, you will receive progression mentoring with the aim of improving your employability skills. You will have access to training, business start-up support as well as employment and volunteering opportunities
Who is Eligible?
This programme is aimed at young people aged 18-30 who are unemployed, working fewer than 16 hours a week or from other Prince’s Trust target groups.
If you’re interested in self-employment or have a business idea you would like to explore then please get in contact with the Princes’ Trust:
Phone: 0800 842 842
Young Persons Loan Fund (East Midlands)
The Young Persons Loan Fund aims to help young entrepreneurs across Derbyshire and Nottinghamshire start up their own businesses. Delivered by First Enterprise Business Agency (FEBA) in partnership with the Derbyshire and Nottinghamshire Chamber of Commerce (DNCC), the scheme aims to provide young people aged 18-24 with access to business start-up funding and expert, personal support from business mentors to help develop business plans and access training.
The Government has allocated a three-year national fund of £82.5 million to propel the scheme which will give the next generation of entrepreneurs the finance and support they need to start their own businesses. Financial support is available in the form of a loan of up to £5,000 with a repayment period of up to five years.
DNCC and FEBA offer a wide range of business support services and you are advised to contact DNCC to discuss your proposed project. Together you can identify the financial and advisory supports suitable for you.
Brightside – Mentoring and Business Loans
Brightside Start-Up Loans scheme is an experienced business mentor scheme to help develop your business ideas, and can supply loans of around £2,500 to get things off the ground.
Virgin StartUp Loans
This is the not for profit Virgin company for entrepreneurs. Before they approve a loan, they will invest time with you to ensure that you have considered whether:
- A Start Up Loan is affordable and appropriate for you and your proposed business
- Your business is at the right stage for you to receive funding
- Your financial projections are reasonable and achievable
- You have considered all key aspects of your business