Friday 13 December 2013

Sources of advice and guidance

Key term test 10/10 Sources of advice and guidance

  1. Banks - high street banks all offer business banking services and free advice to new business start-ups.  Some even offer free banking for the first twelve months and free access to accountants and solicitors and free business software and business plan advice.
  2. Chamber of commerce - These are local organisations made up of local businesses of all sizes and all types that link up to make a national network of support for local business
  3. Shell Livewire - Provides help and support and a business start up kit for anyone wishing to start up a business.  This initiative is sponsored by Shell.
  4. Princess Trust - this is a charitable organisation which provides support for unemployed people between the age of 18-30 years in setting up their own businesses.  Advise from business experts as well as grants and low interest rate loans and long term contact with a business mentor.
  5. National Federation of Enterprise - Agencies set up to provide help and advice across the country. They work with Regional Development agencies to help start new business and create jobs 
  6. Accountants - These people give support and advice with regard to setting up a business, registering for VAT and paying taxes.  Initial advice is often free.
  7. Business Mentors - This is a person with business knowledge who can help and guide start up businesses on a voluntary basis
  8. UKIPO.htm - The UK intellectual Property Office will advise on designs, trademarks, patents and copyright. 
  9. Solicitors - Solicitors will help on legal matters such as setting up a private limited company (LTD) or drawing up franchise and partnership agreements
  10. Matched funding -  When the business is expected to put in the same amount of money as a grant e.g. for every £1 of grant the business must invest £1 so that the business is half funded by both.

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