Recent research by the British Business Bank (BBB) shows that Yorkshire is the UK’s fourth largest hub for start-up businesses. Millions of pounds have been loaned to thousands of aspiring business owners.
Of course, this is good news, as it highlights that Sheffield is an attractive place for new businesses to base themselves.
The 5.7 million small businesses in the UK make a great contribution to the economy and society. Therefore, it’s pleasing to see that Sheffield can play a part in that.
Wosskow Brown Foundation helping start-up businesses
Jim Lawson is Director of the Wosskow Brown Foundation which provides practical help and inspiration for business owners, assisting them in growing their skill set and their business.
Jim commented: “A recent headline tells us that this region is fourth highest in terms of business start-up loans.
“Access to finance is important not just for start-ups but grow-up and scale-up businesses too.”
However, access to finance isn’t the only factor to focus on when growing a business. Jim emphasised the value of what he calls ‘wrap around’ services.
This term refers to all-round, key business support; legal and accountancy advice, access to flexible landlords who offer easy-in/easy-out terms, guidance on IP, introductions to sales and marketing experts, and access to business-people and mentors who have ‘been there and done that’ and will share their expertise with early-stage founders.
“Having access to these experts at the right time can make a huge difference”, Jim added.
Over the years, the local business ecosystem has grown, producing lots of ‘connectors’ in the region. Connectors are people and organisations who provide vital support to business founders.
Jim stated: “We have made over 420 business to business introductions in the past three years, linking businesses with these wrap-around service providers.”
When it comes to funding, it’s vital that founders know and understand what funding is available.
As the Wosskow Brown Foundation aims to help businesses start up and grow, Jim also often signposts businesses towards finance options. These include start-up loans, angel investment, banks, venture capital and also social impact funding.
He also mentioned: “We can even introduce businesses to a stock market for SMEs. This is useful if they wish to access growth funding via a listing on the stock market.”
We will continue our work of the past five years, trying to help regenerate and strengthen our local economy. We welcome businesses getting in touch with us if they come to a bump in the road and need some support or simply a warm introduction to someone who can assist them on their business journey.”
Jim Lawson – jim@wosskowbrownfoundation.org.uk
