Urban Enterprise programme secures further funding for business hopefuls
A free programme to encourage more Plymouth people to give business a go is celebrating a further two years of funding.
The Urban Enterprise programme has secured £1.39 million to continue laying the foundations to help Plymouth’s untapped entrepreneurs make a solid start to their business careers. Plymouth City Council and the European Regional Development Fund have both awarded grants to:
- Enterprise Coaching – £275,000 each
- Outset Plymouth – £298,000 each
- Outset Finance – £122,500 each
The free programmes aim to kick-start confidence and give people practical advice on how to write a business plan, pitch and present ideas as well as how to get finance and marketing.
Council leader Tudor Evans said: “Urban Enterprise is not a quick fix but is about nurturing talent, confidence and creating a can-do attitude in areas of the city which have fewer businesses.
“Some of the stories I have been hearing about how far people have come, from a germ of an idea to training, to running successful businesses have been inspiring and what’s great is that over the next two years more and more people will have a go through the programme.
“When the banks close their doors, it’s important to know that there are other avenues for people who have the right idea, plenty of drive and ambition – whatever their background.”
Over the last three years, the programme has laid the foundations for an enterprise culture by taking people on a journey from disadvantage to success by progressing through the following stages:
- 1,200 people have had Enterprise Coaching from Working Links – workshops to build knowledge and skills for self-employment. Of those, 80 per cent were unemployed and 60 per cent from deprived wards, 25 per cent were over 50, 33 per cent were women and 16 per cent were people with a disability. 60 per cent were referred to Outset Plymouth.
- 1, 235 people then registered with Outset Plymouth, which has an ‘Intensive Start Up Support’ programme to guide people with business ideas through foundation sessions and workshops on how to run a business
- As a result, Outset Plymouth has seen 158 businesses get off the ground, of which 92 were started by women. Many took advantage of Outset Finance’s Understanding Finance for Business programme to help them become investment ready and find funding.
- 67 businesses in Plymouth have benefited from loans valued at more than £360,000 from the South West Microcredit Fund
- A Social Enterprise Focus programme has helped 120 people to develop their social enterprise status working alongside 40 social businesses, schools and Plymouth University. This provides a great start to running and growing a community business
The next phase of the programme will enable business support projects to continue their start-up programme as well as nurture existing businesses, giving them opportunities to grow and establish themselves further.
It also includes setting up new enterprise hubs with work space for businesses to grow. Detailed background work is already well underway and the Council has agreed to support the first hub at Union Street by the Millfields Trust by acting as guarantor for the £2.1 million loan from the Growing Places Fund administered by the Heart of the South West Local Enterprise Partnership.
The proposals would see 34 flexible units for new start-up and emerging businesses built in Block C and also forms one of the Council’s ‘Plan for Jobs’ projects.
Other projects in the pipeline include an enterprise hub at the Beacon Centre at North Prospect and affordable artist studios and workshops by Ocean Studios at the Royal William Yard.
Frances Brennan, Regional Director South West Working Links said: “I am delighted that the Urban Enterprise Programme has been extended with support from Plymouth City Council and ERDF funding.
“It’s fantastic to work with the communities in Plymouth and to create new sustainable businesses with Working Links and Outset helping the city to grow.”
Bev Hurley, Chief Executive of YTKO which runs Outset said: “I'm delighted that Outset Plymouth and Outset Finance have been recommissioned to March 2015 as part of the Urban Enterprise programme.
“With over 162 new businesses and 199 jobs created by the teams in Phase 1, and nearly £1m raised to support both these ventures and established businesses, we've made a great start to unlocking the entrepreneurial spirit of this great city.
“All the Outset staff are looking forward to building on this foundation in the years to come and helping more Plymouth people to start and grow successful businesses."
Operations Director Chris Redding said: “Peninsula Enterprise is delighted to be supporting social enterprise development in the city. The sector is hugely important to our communities and the economy, and it is really positive that specialist advice and support is being provided through the Urban Enterprise Programme.”
Chris Burt, Fund Manager for the South West Investment Group Services which manages the South West Microcredit Fund, said: “We are very pleased to have been able to provide loans valued at over £360,000 to more than 60 clients of the Urban Enterprise programme who had not been able to raise the funding that they needed from conventional sources enabling them to fulfil their ambitions to start their own businesses.”
David Parlby, CEO of the Plymouth Chamber of Commerce said, “I have been involved in the Urban Enterprise programme since its inception and seen it go all the way from the initial bid to its most recent extension of the programme. I am very pleased that it continues to go from strength to strength in providing support for individuals in assessing their ideas for new businesses and in helping them to set up new enterprises which thrive. This type of initiative is very practical and effective in helping to grow the local economy.”
Agencies and organisations link together under the umbrella of the programme to make sure the right help goes to people who get in touch. They are Working Links, Outset Plymouth and Outset Finance, Peninsula Enterprise, South West Investment Group Services.
