Member Article

Start Up Loans selects new ambassadors to champion UK small businesses

• Founders of 10 small businesses recognised as examples of standout start up success

• Start Up Loans has delivered over 67,000 loans since 2012, providing £534m of funding

A former soldier who used his service experience to set up a telecoms company for the construction industry and the founder of a sportswear brand designed specifically for pregnant women are among 10 small business founders who have been selected to champion UK start-ups by Start Up Loans, part of the British Business Bank.

Now in its fourth year, the annual Start Up Loans Ambassadors programme celebrates exceptional business owners who have realised their ambition of becoming their own boss after receiving support from the Government-backed Start Up Loans programme.

Hailing from across the UK, this year’s Ambassadors reflect the wide range of businesses that make up the UK’s thriving SME sector, from a marine biologist in Newcastle who turned his fascination with the sea into a business manufacturing products made from seaweed, to the educational football club in Manchester founded by a fan of the sport when he was aged just 21.

The Start Up Loans Ambassadors will be honoured at a dedicated reception today (Tuesday, October 22), at the Houses of Parliament in London. Guests will include Lord Smith of Kelvin, Chair of the British Business Bank, Kelly Tolhurst MP, Minister for Small Business and Jonathan Reynolds MP, Shadow Economic Secretary to the Treasury.

The Westminster launch will kick-start a year-long programme which will see the Ambassadors take part in a series of local and national activities, where they will offer advice to other aspiring business owners about becoming their own boss.

Through a network of Delivery Partner organisations, the Start Up Loans programme provides pre-loan support to help applicants to develop a business plan; a fixed-interest loan of up to £25,000 to start or develop their business; as well as mentoring support to help loan recipients with everything from cash flow to marketing.

Since 2012, the programme has delivered more than 67,000 loans to business owners across the UK amounting to more than £534 million. Of those who received a loan, four in 10 (40%) were women; more than one in five (22%) were people from black and minority ethnic communities; and more than a third (35%) were previously unemployed, reflecting the diversity of the UK start up community.

Richard Bearman, Managing Director, Start Up Loans, said: “All of our Ambassadors’ stories demonstrate the passion and grit it takes to set up a successful business. We’re incredibly proud of everything they have achieved and wish them even greater success in the future.

“Starting a business isn’t easy and many people give up at the first hurdle; however, these Ambassadors show if you have a good idea and access to the right support, funding and advice, anything is possible.”

This was posted in Bdaily's Members' News section by Mo Choudhury .