Member Article

‘Amazing achievement’ hailed as Transmit Start-Ups reaches double milestone

Gateshead-based Transmit Start-Ups has hit a major milestone after delivering over £20,000,000 worth of start-up loans to 2,000 entrepreneurs across the UK.

The company has completed four years as a major North East delivery partner for the government’s Start-Up Loans scheme and has expanded operations into Scotland, Northern Ireland and Wales in the last 18 months to cater for the growing demand on its services.

The 2,000th business to benefit is The Dukes gastro pub in Bedfordshire, opened by sister team Jo Carter and Sarah Smith. Formally an Indian restaurant and takeaway, Jo and Sarah restored the 260-year-old thatched building back to a village public house after it lay empty for two years following the closure of Shaanti Restaurant in 2014.

44 percent of Transmit Start-Ups loan recipients in the North East region have started their own businesses from full-time employment, while 15 per cent are starting their own business after being unemployed for a period of time.

Richard Myers, commercial director of Transmit Start-Ups, explained: “The Dukes and Jo and Sarah are the perfect example of the kind of entrepreneurs and business ideas we support.

“You don’t need to be an inventor or the next tech guru to call yourself an entrepreneur. We help those looking to start businesses across all industries.

“From app ideas to a local coffee shop, it’s about supporting entrepreneurs to get their ideas off the ground – not just through finance, but through support and mentoring to help entrepreneurs form a clear business plan that provides the foundations needed to give them the best chance of success.

“To have helped more than 2,000 entrepreneurs start their own businesses under the Start Up Loans programme is an amazing achievement.

“Since we expanded our Gateshead-based team and opened our new offices in Scotland we’ve been receiving more applications than ever. In July alone we approved over 100 loans – our highest to-date. Over the next 12-months we’re on-track to help more people than ever become their own boss.”

Commenting on being the 2,000-milestone recipient, Jo Carter added: “We’re delighted to be the 2000th loan recipients and can’t wait to take The Dukes to the next level as a business.”

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