Tag Archives: startup

Government Start-up Loans

26 Jun

Start-Up-Loans-new-logo

When starting a business you may find the start-up costs slightly daunting and may prevent you from going ahead with your idea, however there is help out there so don’t give up!

The government offer a business start-up loan service where you can borrow money to cover your start-up costs and also receive useful advice from experts. To help get your business up and running there are a few requirements:

  • You’re aged 18 or over
  • You’ve developed a business idea
  • Your business will be based in the UK
  • You are a UK resident
  • Your business has been trading between 0-24 months

The application will also require you to have produced a business plan and cash flow, which is essentially creating a more detailed plan of your business. You can find templates on their website, along with support. Alternatively you may be able to get help from one our enterprise coaches at Opportunity Plus can run through what you need.

Once you’ve been successful with your application you still get on-going support, and can pay the loan off over up to 5 years at a fixed interest rate.

Don’t think you’ll get accepted? Take a look below to see just how many businesses they’ve helped get going so far, or check out their website – https://www.startuploans.co.uk/

Don’t forget to think about how you’re going to pay the loan back, and only borrow as much as you need.

Start up loans

If you want support and guidance for starting your business then please get in touch on 0800 043 2440 or info@opsw.co.uk

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OPSW Enterprise

2 Apr

“When you find an idea that you just can’t stop thinking about, that’s probably a good one to pursue.” – Josh James, Omniture CEO

Did You Know?

  • The South West ranks 2nd for the highest amount of self-employed workers.
  • 57,000 people in Devon are self-employed.
  • Nearly two-thirds of small business owners have no business or management experience.

Registering as a sole trader

Many of our customers ask how to register as a sole trader once they have decided to take the plunge and start their business.  This is done online here.  HMRC have a range of useful “webinars” available to teach you about a range of topics to do with tax, national insurance and Self Assessment.  You can even watch them live and ask questions.

Business Insurance

When you start trading, you will usually need some sort of business insurance, and if you are working from home or using your car, your house and car insurance may be affected too.  Simply Business is a good place to start, to find out exactly what insurance you will need and how much it will cost you. Call them on 0845 071 0270.

Start Your Own Business

We now run a range of Accredited Start Your Own Business courses at Level 1 and 2.  Visit www.opportunityplus.org.uk or call 0800 043 2440 for more information.

Case Study

Carole started a cupcake business, which she ran for four years on a mobile basis.  Following the success of the mobile business, she decided to open a cake shop in her home town of Teignmouth, allowing customers to see and sample her cakes.  She still caters for weddings and other events too.  Find out more at www.carolescupcakes.moonfruit.com

2 catercarole