To help make the Youth Investment Fund a reality we need to understand the level of loans needed by young entrepreneurs. This will help the Government and other potential partners understand how it could work and what money is needed.
You can help us make a strong case for this fund by filling in our quick poll.
Are loans really neccessary? I started my business with my best friend and we funded everything by ourselves – It took us two years to fund but we did it and it’s all that more rewarding- we just worked hard and saved.
I think that everyone needs to work to understand what it really means to hustle which reverts your mind set back to treating every penny like it’s precious and it actually counts.
Some businesses need commercial equipment which is expensive. One of my main goals is to set up a coffee roastery, but some roasters cost £20k, let alone the peripheral equipment and overheads – the market could have completed changed in the several years it would take to save that from income.
Hi,
I am at the stage of my idea that I need extra funding. I have recieved £1,000 off the government and have saved £2,000. I moved uo to London 6 months ago and sold my i-phone in order to move. My idea is a peice of fitness equipment and i have had many meeting with patent atternies, inventors and businessmen. I am hoping to develop my product with a company and need £4,000 extra to do so.
Any help, advice or contacts would be appreciated
Thanks
Danny Gray
Hi there Danny
Have you thought about crowdfunding?
What I would like to point out is that a small start up loan of say £3/4000 is perfect.
Once you have been running the business for say 2 or more years Gained experience in your industry I think it vital to have a injection of funding for growth and expansion.
Hanan
as young business minded people with great ideas and huge ambitions , the power to acquire information and create a plan for the business can be achieved as the main source for this is hard work and learning however once the business plan is done including a 5yr forecast ,cashflow acc and all the other planing needed the barrier we face is funding for example: although we have a great idea and calculated the success of it , funding remains a vital tool which is most times very hard to get.
Easy access to small loans upto 10000 pounds can afford independence of thought and action to young researchers to innovate and get their idea to an acceptable level in terms of technology-readiness for market entry.
http://www.theemployable.com has cost us hardly anything to set up so far – we do have a more commercial website on the way and that is costing quite a bit
if you need to set up a website for free and have the time to learn how to use it – wordpress.com is free and they host it for you too
Hi
I was just wondering if virgin pioneers could come down to africa and help young entrepreneurs get funding and build businesses that can at least be competitive at continental level. This would create tons of jobs, help drive the economy. If you could put pressure on the South African government to work with private parties and help young and poor people who would like to make a difference out there.
I am 12 years old with a very good idea for a business and would like some info about funding and where to go to start it..
I think the youth investment fund is brilliant. So much so that i have just taken 40 minutes to write to my local mp, who is Hazel Blears of salford, and told her to ‘rock the boat’ and voice her support! I personally, own a european design registered with OHIM, and want to start a business selling the clothing garment. However manufacturing is a large capital expense. I would say a loan of 1,000 to 3,000 would be of great use, and would substantially help get my company rolling.