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Start up business ideas

For a successful business, you need a viable business idea, the skills to make it work and the funding. Discover whether your idea has what it takes.

Set up a business

Forming your business correctly is essential to ensure you are protected and you comply with the rules. Learn how to set up your business.

Financing a business

It is likely you will need funding to start your business unless you have your own money. Discover some of the main sources of start up funding.

Tax and National Insurance

Businesses and individuals must account for and pay various taxes. Understand your tax obligations and how to file, account and pay any taxes you owe.

Business law

Businesses are required to comply with a wide range of business laws. We introduce the main rules and regulations you must comply with.

Business planning

Learn why business planning is an essential exercise if your business is to start and grow successfully, attract funding or target new markets.

Sales and marketing

Marketing matters. It drives sales and helps promote your brand and products. Discover how to market your business and reach your target customers.

Business premises

Some businesses need a high street location whilst others can be run from home. Understand the key factors from cost to location, size to security.

Employees

Your employees can your biggest asset. They can also be your biggest challenge. We explain how to recruitment and manage staff successfully.

Business IT

It is likely your business could not function without some form of IT. Learn how to specify, buy, maintain and secure your business IT.

Scale up your business

Few businesses manage the leap from start up to high-growth business. Learn what it takes to scale up and take your business to the next level.

Start Up Loans hit £400 million milestone

9 April 2018

Submitted by Anonymous (not verified) on Mon, 04/09/2018 - 10:00

The Government-backed enterprise programme has provided more than 54,000 loans to start-ups and early stage businesses since 2012.

The Start Up Loans Company has now lent over £400 million since its inception five years ago. Northamptonshire bakery Born and Bread has taken the total past the £400 million mark after securing the programme's 54,000^th loan.

The Start Up Loans programme provides loans of up to £25,000 at 6% fixed rate per annum, as well as offering mentoring. Since launching in 2012, it has supported an average of 9,000 early-stage businesses a year.

Small business minister Andrew Griffiths said: "This Government is fully behind the entrepreneurs delivering jobs, growth and greater choice for consumers and we are proud that the Government-backed Start Up Loans Company has invested £400 million in them.

"Small businesses are the backbone of our economy - 99% of firms are small and over 1,000 new businesses start every day. Through our Industrial Strategy we are building an environment which will ensure they continue to thrive."

Born and Bread, set to launch in June this year, secured a £25,000 loan from The Start Up Loans Company which has helped to finance equipment and initial rent costs. The bakery, based in Long Bucky, Northamptonshire, will be offering artisan breads and cakes using locally-sourced ingredients.

Libby Keech, owner of Born and Bread, said: "We have always been passionate about baking, and it has long been our ambition to launch our own business. Starting a bakery isn't a cheap process but with the support of The Start Up Loans Company we were able to purchase equipment and cover our first month's rent. Now we're in the process of putting the final measures in place in time for our launch in the summer."

Joanna Hill, managing director at the Start Up Loans Company, said: "Born and Bread is another example of a stellar business idea which has been brought to life with a Start Up Loan. Having approached us with a solid business plan and a clear ambition for the future, it's great to see Born and Bread on track to build what has the makings of being a highly successful business."

Achieving the £400 million milestone comes one year after the Start Up Loans Company merged with the British Business Bank.

Keith Morgan, British Business Bank ceo, said: "Following last year's merger, the British Business Bank has been working closely with The Start Up Loans Company to coordinate and develop our support for budding business owners. Delivering £400 million of Start Up Loans is an important milestone, and we look forward to providing ongoing support to the UK's start-ups to help bring their ambition to fruition."