Huge congratulations go out to our MD, Bev James, for being appointed Director of Mentoring on the new Government initiative "StartUp Loans".
£82.5m will be distributed on behalf of the government to help 18 - 24 year olds kick start their businesses and contribute to the growing success of small firms in the UK. Appointed by Chairman of the Board, James Caan, who Bev has worked with for several years on their joint venture for entrepreneurs and business owners;
Bev Says: “I am hugely proud of being appointed Board Director on this great initiative. Mentoring and coaching are obviously topics very close to my heart so it is an honour. The mentors are a critical part of the programme. We aren’t just providing cash, but intelligent capital, every young entrepreneur offered a StartUp Loan will be assigned a business mentor – a combination of money and expertise. This is essential to ensuring a greater chance of success in business.”
Bev is incredibly passionate about helping young entrepreneurs and will be using her skills as an expert Coach and Business Mentor to ensure quality and impact on a prolific project that will enable young people to build their future whilst tackling the high level of unemployment currently being experienced amongst this age group (1million unemployed young people).
Also assisting James Caan as Board Members of StartUp loans, are a ‘dream team’ of professionals including: John Spence OBL DL, chair of the Spicehaart Group; David Hutchison, CEO of Social Finance; Julie Meyer, CEO of Adriane Capital; Roland Rudd, founder of Finsbury Communications; Duncan Cheatle, founder of The Prelude Group and co-founder of StartUp Britain; Jonathan Jenkins, CEO of The Social Investment Business and Philip King FICM, CEO of The Institute of Credit Management.
James Caan was approached by Lord Young as someone who understands enterprise in this country and as someone who is committed to ensuring that the allocation of funds is treated in the same way as an investment.
He says: “Those who we have selected on the board are all experts in delivering results. Every individual has their own area of responsibility and therefore I’m confident that we will be able to reach the thousands of young people who are desperate to start their own business.” Drawing on his expertise in running businesses, Lord Young’s initiative of providing small loans to young people to start their own business, aims to put the responsibility of creating jobs for the young, in the hands of the young people. Young people across the country, from 18 – 24 years old will have the opportunity to access on average £2,500 to start their own business.
Every recipient of the loan will be provided with an expert mentor who will be able to provide much needed guidance, a sounding board and networks to help the young entrepreneur along the way. The £82.5 million StartUp Loan scheme launched last week will give our next generation of entrepreneurs the finance and support to potentially start over 30,000 new businesses, in a move to boost enterprise and economic growth.
Any young people aged 18–24 accessing the StartUp Loans can expect to receive expert and personal support to help develop a business plan and access training. Where the business plan is robust and approved, they will be able to access financial support in the form of a loan typically in the order of £2,500 with a repayment period of up to five years. Congratulations Bev James on your involvement in this great initiative!
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