Fri 08 / 01 / 16
Don't let a lack of funds hold you back
Research by Virgin StartUp shows that over a third of adults (36%) in the South East say they have thought of a great idea for a business, yet almost half (46%) say a lack of funding stops them making their idea a reality. The findings were revealed by Virgin StartUp, the not-for-profit organisation, which gives budding entrepreneurs the funding, information and support they need to get their business ideas off the ground.
The survey revealed a number of hurdles would-be entrepreneurs in the South East face when trying to make a business idea a reality:
- More than one in five (21%) said they would be too embarrassed to share a business idea in case someone thinks it’s stupid.
- Over one in four (26%) felt sharing a business idea would be a waste of time as they would never follow it through.
- Over a third of workers (35%) agreed that their workplace fails to encourage them to share ideas outside of their usual role.
Virgin StartUp and Enterprise First are urging would-be business owners to contact them and find out how they can overcome these hurdles and get access to funding and support.
John Mitchell, Chief Executive of Enterprise First comments: “Money is often cited as the cause for people abandoning a business idea. We work with our clients to make sure they explore all funding avenues from loans through to crowd funding and grant applications. If someone has a great idea or is looking to expand their business then we want to support them and help make it happen.”
Enterprise First operate across the South East and can help with all aspects of starting or growing a business. To find out more visit www.enterprisefirst.co.uk or call 01252 319272.
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