Grant­ing new busi­nesses a help­ing hand

Buckinghamshire Advertiser - - BUSINESS - By Debby Thomp­son debby.thomp­son@trin­i­tymir­ror.com

IT has been said that the best time to launch a busi­ness is in a re­ces­sion. But that’s of­ten the most dif­fi­cult time to per­suade banks to help fi­nance new ven­tures.

Now help is at hand from BizBri­tain, which is ac­tively look­ing for new busi­nesses to sup­port with gov­ern­ment loans.

The gov­ern­ment’s StartUp Loan Scheme was con­ceived in 2012 and BizBri­tain be­came a de­liv­ery part­ner the fol­low­ing year.

Loans of up to £25,000 are avail­able at a low in­ter­est rate and re­payable over up to a five-year term.

BizBri­tain was launched by young en­tre­pre­neur Matt Gubba whose mission is to show that you can run a suc­cess­ful busi­ness what­ever aca­demic back­ground you come from.

Hav­ing had suc­cess in help­ing busi­nesses in cities such as Lon­don and Birm­ing­ham, he has now turned his sights on his home county of Buck­ing­hamshire in a bid to help new busi­nesses take those first steps to suc­cess.

He said: “While you don’t nec­es­sar­ily find the tech­nol­ogy start-ups that you’d find in Lon­don in the South Bucks area, there is a good en­tre­pre­neur­ial spirit here and a lot of sole traders.

“I think the econ­omy is show­ing good signs of re­cov­ery now and launch­ing a busi­ness in this eco­nomic cli­mate teaches you to be care­ful with your fi­nances, which puts you in a good po­si­tion.

“I would en­cour­age peo­ple who dream of run­ning their own busi­ness to come and have a go.”

There are very few con­di­tions on ap­ply­ing for a grant un­der the StartUp Loan Scheme: you must be res­i­dent in the UK and aged over 18, you must have the in­ten­tion of your busi­ness mak­ing a profit and in­tend to pay the loan back.

BizBri­tain can guide you through the process of ap­ply­ing for the cash and of­fers men­tor­ing and train­ing for busi­ness star­tups.

“Think of it like a stu­dent loan to help prospec­tive busi­ness own­ers get started,” said Mr Gubba.

“The gov­ern­ment has put aside a big pot of money and BizBri­tain’s role is to help with the flow of funds to new busi­nesses.”

Fur­ther in­for­ma­tion is avail­able by vis­it­ing www. bizbri­tain.org.

SUP­PORT FOR STAR­TUPS: Matt Gubba can help with that loan to help you set up in busi­ness

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