9 replies to this topic

[mercuryg]

I'm reaching out to the local populace here; helping a friend with a business start up in Bedlington and having trouble getting over the final hurdle - funding! Anybody have any experience of getting a loan for business start up in the region? I would be interested in any advice. We have Go Wansbeck on board but need more, and there seem to be large brick walls in the way all over the place. Let me know....

[keith]

mercuryg, on 02 August 2011 - 11:23 AM, said:

I'm reaching out to the local populace here; helping a friend with a business start up in Bedlington and having trouble getting over the final hurdle - funding! Anybody have any experience of getting a loan for business start up in the region? I would be interested in any advice. We have Go Wansbeck on board but need more, and there seem to be large brick walls in the way all over the place. Let me know....

Merc, the wife and I went to a meeting with NBSL in Ass-ington last Wednesday and had a very informative meeting with a business advisor called Alan Grieves. He has given us some contacts for low intrest loans and grants. Your friend can do himself no harm at all by making an appointment to see him. I will pm you my phone number if you want to ring me.

[mercuryg]

keith, on 02 August 2011 - 12:47 PM, said:

Merc, the wife and I went to a meeting with NBSL in Ass-ington last Wednesday and had a very informative meeting with a business advisor called Alan Grieves. He has given us some contacts for low intrest loans and grants. Your friend can do himself no harm at all by making an appointment to see him. I will pm you my phone number if you want to ring me.

Keith

Thank you very much for the reply and for the PM. I will keep your number in case I need to talk to you. It was in fact NBSL who helped with my business start up, and they were indeed extremely helpful. The problem my friend has (she, I might add!) is that she has no collateral, and the banks are not interested in forwarding loans secured on a start up business. It is extremely frustrating as she really does have an excellent idea. That we are having trouble finding a suitable loan is getting her down. If any of the contacts you have might be able to discuss a loan suitable for these circumstances I would be interested to hear.

Good luck, meanwhile, as starting my own business has changed my life.

Edited by mercuryg, 02 August 2011 - 01:05 PM.

[mercuryg]

Thank you very much Keith and Malcolm for the helpful advice you have sent me by PM. What is odd is that I initially replied to Keith as Malcolm, before Malcolm had even sent me a message; it must be a subconscious understanding of who is likely to respond!

As it happens the avenues you both suggested have been investigated - some with some success I might add - but information is always welcome.

As someone who set up his own business a few years ago with the help of local enterprise agencies (NBSL and the now defunct Wansbeck Works, for whom I was the last customer) and who has worked closely with Go Wansbeck in the past few months on this latter project it saddens me to see the government claiming that it will help small businesses when Go Wansbeck, for instance, is 95% certain to be shut down in the very near future. My particular business needed little capital investment - I am a freelance copywriter mainly dealing in website content, and all I needed was a laptop and a desk and chair - but when you look at the empty retail units on Bedlington Front Street and consider the many hoops that we have had to jump through - some seriously tinged with fire - for my friend to get even close to realising her dream it is no wonder the town is in the state it is.

Once again thank you gentlemen for your advice; we are, at least, a little further step forward.

[Malcolm Robinson]

Merc,

I agree with your comments about the perilous state SME (especially micro) development is in and it angers me when I hear both central Government and NCC talk about support for the private sector as a means of addressing the imbalances in public/private sector employment while at the same time running counterproductive polices. I argued that cutting the NCC Economic Regeneration budget was madness, we should be maintaining if not increasing it at this time, because it is the only department which was making a positive impact in that scenario.
Pretty soon councils are going to be able to retain business rates, let’s hope there are still going to be some businesses left paying them.

[mercuryg]

Malcolm Robinson, on 04 August 2011 - 07:27 AM, said:

Pretty soon councils are going to be able to retain business rates, let’s hope there are still going to be some businesses left paying them.

Indeed, it's a mad, mad, mad, made world

[Andy Brown]

keith, on 02 August 2011 - 12:47 PM, said:

Merc, the wife and I went to a meeting with NBSL in Ass-ington last Wednesday and had a very informative meeting with a business advisor called Alan Grieves. He has given us some contacts for low intrest loans and grants. Your friend can do himself no harm at all by making an appointment to see him. I will pm you my phone number if you want to ring me.

Cheers for that Keith, I have a couple of ideas on the cards to help the *local* ie Bedlington populace and surrounding areas, as well as other ideas, will give them a call in the next week or so

[bedlington bears]

Malcolm Robinson, on 04 August 2011 - 07:27 AM, said:

Merc,

I agree with your comments about the perilous state SME (especially micro) development is in and it angers me when I hear both central Government and NCC talk about support for the private sector as a means of addressing the imbalances in public/private sector employment while at the same time running counterproductive polices. I argued that cutting the NCC Economic Regeneration budget was madness, we should be maintaining if not increasing it at this time, because it is the only department which was making a positive impact in that scenario.
Pretty soon councils are going to be able to retain business rates, let’s hope there are still going to be some businesses left paying them.

Yes, I pay £649 per month and don't even have a high street presence. God knows what they are paying elsewhere!

[bedlington bears]

bedlington bears, on 16 October 2011 - 09:38 PM, said:

Yes, I pay £649 per month and don't even have a high street presence. God knows what they are paying elsewhere!

AND - 50% of my rate increase from last year has been deferred!

[Malcolm Robinson]

bedlington bears, on 16 October 2011 - 09:38 PM, said:

Yes, I pay £649 per month and don't even have a high street presence. God knows what they are paying elsewhere!

Probably around double for a smallish premisis!

I always discount initial discounts because in no time at all you pay the true rate which given the hike will more than make up for a short period of 'undercharge'.


I have long argued that non domestic rates is a tax which not even the most efficient business have any control over. If a business uses too much electricity it can switch things off, too much heating it can cut down, but that isn’t possible with something like a rates demand. That is set on a fictional rental pricing structure and means a small business in Bedlington pays the same per square foot as Harrods, pro rata of course!

That and the upwards only rents some landlords charge has a devastating effect on small towns like ours.

Watching the billion pound Metro Centre last night not hard to see where retail migration has ended up and the Ying and Yang of property prices where our high streets are losing value and the Metro Centre has trebled in value since Sir John’s departure.