In line with the government promise made in the 2006 Budget, the Department for Business, Enterprise & Regulatory Reform have today announced the rearrangement of government funding and support for business start up, growth and redevelopment. The previous 3,000 grant schemes and publicly funded business services and support schemes have now been reduced to a more easy to manage number, starting with 30, with 9 more schemes joining today and two more in April. The schemes can be viewed at the new Business Solutions site and are easily accessed via the Business Link website.
This is the first time that all government business grants and support schemes have been collected under the one banner at the Business Link site, and is a great step towards the provision of accessible advice for budding entrepreneurs. Commenting on the launch of this redevelopment, John Wright, National Chairman of the Federation of Small Business welcomed the change, saying “Small businesses do not want to be swamped by a range of different schemes and proposals that take too long to understand, let alone take advantage of. The FSB welcomes this streamlined set of solutions for business which, we hope, will make it more straightforward for small firms to get the help they need to get started, grow and expand.”
The site provides detail for a variety of schemes including business start up loans, training schemes, business development grants. The site also provides a variety of additional advice services for business owners in a variety of areas such as tax, health and safety, and environment advice. So, if you are considering investing in a business opportunity then you should explore Business Solution’s website to see what kind of government support you can apply for.
Time for some good news!! With all the doom and gloom about the economy, it’s refreshing to receive some good
news in the business start up sector – especially for us girls!
The results of a recent study released by Barclays show that the number of new business start ups has risen despite the economic down turn. 436,600 new businesses were started in the UK in 2008, up from 432,200 in 2007. Local Business manager for Barclays, Steve Cooper commented that “these figures may seem surprising given the current economic climate. There could be a number of reasons for the robust start-up market, including individuals made redundant opting for self-employment. We should also remember that there are always opportunities, even in more challenging times.”
The number of women starting businesses has also increased – by 9%. 90,000 businesses were started by female-only applicants in 2008, in comparison to 83,000 in 2007.
Franchise Direct operates a dedicated section detailing women’s franchise opportunities. These franchise opportunities are picked based on their proven suitability to women.
Paris recently played host to a large delegate of representatives from the franchise industry. The Expo brought 
together over 400 companies and welcomed innovations from over 110 existing brands. The exhibitors represented over 18 countries worldwide, and the Expo hailed as highly successful especially during such economic uncertainty. The Expo was also attended by our own Celia Marrec, Salesperson for Franchise Directe (which features franchise opportunities in France).
Franchise Expo Paris, 13th – 16th March also welcomed over 30 delegates from across the world representing a global franchise community, at the invitation of the French Franchise Federation. Over the two days of the Expo, the representatives met to discuss various aspects of the franchise industry.
The Expo featured a variety of events and talks including a round table discussion chaired by Anne-Marie Idrac, French Secretary for Foreign Trade and panelled by Chairmen of the federations for each continent: Guy Gras (France), Ricardo Bomeny (Brazil), Moatar Al Alfi (Egypt), Samie LIM (Philippines) and Lorraine McLachlin (Canada).
The Expo also hosted an awards ceremony during which 30 awards were given to successful entrepreneurs and business people. The top award: Business Award Franchisee 2009 was presented to Via Uno – a successful Brazilian shoe and accessories brand.
Franchise Expos and Exhibitions are a great opportunity to meet franchisors a large variety of franchisors face to face and ask any questions you may have about investing in a franchise opportunity. The next big franchise exhibition for the UK market will be The British Franchising Exhibition in Glasgow, Scotland on June 5th & 6th 2009. Franchise Direct features a comprehensive franchise expo calendar of upcoming franchise events.
During these tough economic times, securing finance for small businesses is becoming increasingly difficult. It is emerging however, that securing credit insurance coverage could prove more difficult that financing. Financial institutions have stated that they will be increasing their premiums to customers by up to 40% and that coverage of more risky industries such as retail and construction will be decreased.
In an article by The Sunday Times, Shaun Purrington from Atradius was quoted as saying “It is fair to say that compared with six months or one year ago small businesses will find it more difficult to get credit insurance. I’m afraid that the appetite of credit insurers to write new policies has declined.”
So what can you do? Well investing in a franchise means that your investment will not be perceived as risky as “going it alone”. In general, franchise businesses enjoy a higher success rate than independent business start ups and underwriters and lending specialists are aware of this. The 2008 NatWest/bfa survey found that “the number of franchise networks had grown year on year for the last 15 years and in 2007 saw its economic contribution grow at nearly five times that of the national GDP growth (15% economic growth in franchising against a 3.1 % GDP growth).” Also, many franchisors have developed relationships with financial institutions which can help individuals secure financing when investing in a franchise opportunity.
If you are considering starting your own business, then franchising is the way to go as it is proving to be the more secure option and while this recession continues – it may be one of the best ways of securing financing and insurance coverage.
Small Business Trends recently published a document on creative tips for small business owners. This website publish a lot of work online with helpful tips and thoughts for small business owners, and this latest publication is also helpful for all those who find themselves at the helm of a small business. The tips are contributed from individuals running their own business which prove to be quite insightful and are split up between money saving tips and business growth tips. In times such as these, sharing information and tips between small businesses is the way to go!
At the recent IFA convention in San Diego, Dina Dwyer Owens of The Dwyer Group spoke about how her company believed that they had a responsibility as a larger organisation to give advice and help to smaller companies and that this recession would inevitably improve and strengthen businesses. Click here to watch Franchise Direct’s Lillie Burroughs interview delegates the IFA annual convention in San Diego. Listen to the delegates speak about how they intend on ensuring the survival of their businesses during the economic downturn.
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