Features: Big opportunities for small businesses

Written by Graham Allchurch, Editor, Graduate Prospects, February 2013

British start-ups are being given the chance to flourish by a range of opportunities provided by numerous national schemes

The condition of the UK economy remains a concern for politicians, commentators and the general public, with the latest figures sowing the economy contracted by 0.3% in the fourth quarter of 2012.

However, it is in this tough environment that a multitude of budding businesspeople have succeeded in getting their ventures off the ground.

They have been assisted by a range of different national schemes, which have helped to provide much-needed funding worth hundreds of millions of pounds in total.

StartUp Loans

A government scheme headed up by Lord Young of Graffham and serial entrepreneur and former Dragon's Den star James Caan, StartUp Loans recently revealed that it has now supported its 1000th entrepreneur.

Five hundred businesses received loans and free mentoring in the last five months of 2012. But in the first five weeks of 2013 activity has stepped up another notch, with a further 500 businesses being launched.

Commenting on the success of the scheme, prime minister David Cameron said, 'This clearly demonstrates the ambition and drive people in this country have to create a business and I am pleased that StartUp Loans are helping more and more entrepreneurs who start small but think big transform their ideas into viable, growing businesses.

'I am on the side of people who want to work hard and get on in life, and it is by backing aspiration and the businesses of tomorrow, as well as the businesses of today, that we are equipping the UK to compete in the global race.'

Caan added, 'The fact these young people are creating employment brings me enormous satisfaction. If each of the businesses we start creates two or three jobs that will be a hundred thousand jobs created by this initiative alone.'

PitchUp

Furthermore, StartUp Britain, which is a national campaign by entrepreneurs for entrepreneurs and helped to establish StartUp Loans, is offering new businesses the chance to get their products in front of John Lewis - a giant in the industry.

Its PitchUp competition will see hundreds of start-ups battle it out for a chance to receive expert mentoring, practical guidance and assistance spanning key development areas including design, pricing and packaging to help ensure a final product that is ready for sale. Only the top 12 businesses will be selected.

In addition, as part of John Lewis's 150th birthday celebrations in 2014, the contest will search for iconic and innovative British products to feature in the retailer.

StartUp Britain co-founder Emma Jones said, 'We're seeing record numbers of businesses starting up, with more and more people starting out small and online. This competition gives them a really great opportunity to find out what it's like to work with British institutions like John Lewis.'

Christine Kasoulis, director of brand development at John Lewis, added, 'PitchUp is a tremendously exciting opportunity for us to discover unique products and innovative designs for our customers, while at the same time supporting talented start-ups.'

Businesses have a deadline of 23.59pm on 10 March 2013 to apply for the competition. To apply online, visit PopUp Britain - PitchUp .