Episode 7 getting the most out of business support.
Welcome to the Be your Own Boss podcast, the young entrepreneurs guide to starting a
business, whether you're thinking about business for the first time or you have
an idea that you want to develop then this is the podcast for you. I'm Mari and
I'll be guiding you through this 15 part series that will keep you on track and
help you think through the challenges that come with starting a business. Part
of the Welsh Government's Business Wales service, Big Ideas Wales raises
aspirations and supports young entrepreneurs ambitions for business.
Part funded by the European Regional Development Fund, Big Ideas Wales
supports young people through online resources business skills workshops and
one-to-one sessions with an advisor to help your ideas become a reality. To get
in touch with us you can like and follow us on Facebook, Twitter and Instagram.
Message us and one of the team will get back to you. CVall us via the helpline on
03000603000, live chat on the Business Wales website,
or you can email us bigideas@gov.wales. This is episode seven. Last time we
spoke about getting online on a budget - I hope you found the option that works for
you, whether that's building your own website from scratch using a DIY
template or having someone create it for you.
Now you've your domain name sorted and you're on the road to building your
website, let's take some time to talk about business support. Needing support,
knowing what's available and also where to find it can be difficult and I know
it sounds like a scary process but don't worry we want to make life a little bit
easier for you. Big Ideas Wales is the first stop for young entrepreneurs in
Wales. You can visit the website to find lots of ideas advice tips and resources
to help you launch your big idea the Big Ideas support is offered by the Welsh
Government through Business Wales but also if you're studying in college or
university in Wales then check out what they have on offer as well. I don't know if you
know but we have Enterprise champions at every college and university across
Wales who are ready and waiting to help you it's worth checking out the full
list of organisations that can help you on our websites as
well. You will find that some services might be fully funded or charge a
nominal fee, if not it's worth noting you will have to pay a full rate for advice.
Use your time wisely - be committed to follow up on actions agreed and make the
most of your advisor or mentor's time. There's so much support on offer you
have to make the most of it. Some of the support you can access are: Our workshops and
events available across Wales to build your business knowledge and develop your
understanding of topics like finance, marketing and business planning. These
are a great way of learning the essential skills needed and a great
opportunity to meet other entrepreneurs and share experiences. You can access the
full details and applications on our website. You might find that online
learning is your thing, and you can access the Business Online Support
Service AKA BOSS, through business Wales, which will allow you to learn essential
business skills online at your own pace, on the go wherever you are and whatever
the hour. Other entrepreneurs and business professionals are willing to share their
knowledge and advice by offering themselves as coaches and mentors. They
can guide you in the right direction. There are a number of business
competitions you can enter which will hone your skills and allow you to make
connections, also the experience and practical help you can access through
them along with some useful prizes can offer you some great PR opportunities.
You can check out full details and applications on our website. throughout
Wales there are a number of co-working spaces incubator and accelerator
programs which you can apply to be a part of. Here you can benefit from
working with and meeting like-minded entrepreneurs across Wales and it's the
perfect opportunity to build connections and learn from each other. There are also
five and Enterprise Hubs located across all regions in Wales, where you can
access support from Business Wales as well as other partners visit our website.
To find out more information, we're always ready to answer your questions,
and you can register for one-on-one support, so why not find us on Facebook, Twitter and Instagram @BigIdeasWales. When it comes to finance, grants
and loans, what you can get will depend on eligibility but there are lots of
options. Low interest loans, like a Start Up Loans are customary for new
businesses.Grants tend to be for businesses that are already trading but
your business advisor can guide you through the options, so don't panic. There
someone that can help you along the way. That's quite a bit of information to take in I
know, and you might be wondering how do I find the help available - well that's easy.
The Business Wales helpline offers a diagnostic as well as information and
signposting service so all you have to do is give them a call on 03000603000
03000603000 or you can use their live chat function on the
Business Wales website.
You can join our growing network of young entrepreneurs and register to see
a business adviser, just visit our website to find out how (www.bigideas.wales) .
Go and see one of our entrepreneur champions at your college or university. You can find out
who you're EC is on our website, and have a look at our real startup stories to
find out how many people the EC's have helped already. We also hold Big Ideas
Wales events which you can attend - they add great fun and you come away from
them with new information skills and the new set of business contacts. Finally
don't forget to get liking following tweeting and messaging us on Twitter
Facebook and Instagram - just send us a question and one of the team will get
back to you. It's also a great way for you to keep up to date with what we're
up to and any events we have coming up.
It might be a daunting challenge to sit
down and talk to a business adviser but it's not, I promise, our dedicated
advisers are across Wales and they are ready and waiting to help you.
Let me answer some FAQs for you to help you get started and give you an idea of how
it all works.
Why do I need an adviser? Your adviser is there to help
you make the final steps towards starting a business. They'll provide you
with the tools and resources you need. They can also introduce you to the Big
Ideas role models and point you in the right direction to any extra information
you may need. We've met a few role models throughout previous episodes of the
podcast, but you can find out more about them on the role model profiles
available on our website, so why not go and check them out!
When will I know if I'm ready to see an adviser?
Trust me - you'll just know. When you've done as
much as you can for yourself you'll be ready. The adviser will be able to tell
you if you need to spend more time developing your idea before you go any
further. We also have a handy checklist that can take you through the steps of
starting a business that will also help you. This is also available on our
website. Don't forget you can also get support from your college or university too.
Do I meet them in person?
The first thing the adviser will do is call you.
Then from there you'll agree to meet in person for any further conversations you
may need.
Do I need to prepare before I meet my adviser?
There are a couple of things you'll need to be able to do.
Describe your business idea, the market
research you've already carried out, an idea of your customers and competitors,
what makes your idea different from the rest, and you're good to go.
If you have any relevance marketing materials or even a draft business plan
then bring them with you for the adviser to see, but you don't have to have these prepared.
Where will I meet my adviser?
This won't be a formal meeting so don't
worry - they can meet you at a cafe your college or university and if you're
nervous you can bring a friend or family member if you want to. Your adviser won't
meet with you at home.
What can I expect from my first meeting?
In the first meeting you'll talk through your business idea, how you want to develop it
and what you need to do to get started. You'll come away with an action plan
that you can work on, and the adviser might also take away actions to work on
before the two of you meet again.
Will Ineed to bring ID?
No you don't need to
bring ID. The relationship you built with your
adviser will work on trust they will trust who you say you are and that
you're eligible to receive our support.
Will they be able to give me funding advice?
Your adviser will be able to
identify sources of funding that might be appropriate. They can also help you
create business plan or cash flow forecast which will be helpful in securing funding.
We will be discussing funding in episode 10 so don't forget to listen in
What happens after our first meeting?
After the meeting it's your responsibility to tackle some of the
items on your action plan, then at your next meeting the progress will be
revealed and your advisor will be able to identify any further work that's
needed. What if I don't get along or connect with my adviser?
Now this is very unlikely to happen
but on the rare occasion that it does we can offer you
someone new. One thing to note is they may not be in your area and therefore
are unable to meet you in person. What if I need to cancel or postpone a meeting?
This is not a problem we all know schedules can change but make sure you
let your advisor know as soon as possible so they can reschedule the
meeting. This is all pointless information if you don't know how to get
an advisor in the first place - all you need to do is contact Big Ideas
Wales via email enquiries@bigideaswales.com. Call on 03000603000
or as we've already mentioned contact us on social media. It's that easy.
Now you all know about the supports available to you don't be
afraid to access and use it because it's there for a reason.
Next time we'll be talking about making a business plan so remember to listen in
Here are those all-important contact details for you so we can answer all
your questions.To get in touch with us you can like and follow us on Facebook
Twitter and Instagram, message and one of the team will get back to you. Call us
via the helpline 03000603000, live chat on the Business Wales
website or send us an email at bigideas@gov.wales. I'll speak to you all
again very soon.