Starting out in your own business, you’ll undoubtedly come across many roadblocks you’d never even imagined needing to navigate, including financial and legal decisions that really matter.
But the good news is that there’s plenty of support available, at local and national level.
In this blog, we take a look at some of the resources available to businesses operating in the Swadlincote area. You may be surprised how many low-cost or even free opportunities are available.
Local business support in Swadlincote and the surrounding area
East Midlands Chamber of Commerce
Chambers of Commerce exist to support and champion local businesses.
Here in the East Midlands, we’re fortunate to benefit from a very active Chamber of Commerce, offering free one to one advice, fully funded online and in-person workshops (including the Accelerator programme) and training sessions and advice on where and how to obtain funding for your business.
Being a member of the East Midlands Chamber also unlocks a range of benefits, including discounts on specialist services and networking opportunities.
Staff at the Chamber often have a diverse range of knowledge in business, along with a deep understanding and wide network of connections in the local area. Whatever your problem, it’s likely that they’ll be able to advise you or direct you to someone who can.
D2N2 Growth Hub (Derbyshire and Nottinghamshire)
The D2N2 Growth Hub works alongside the Chamber to provide business support across Derbyshire and Nottinghamshire, including in Swadlincote.
Also offering free business advice, training and access to funding grants, there is crossover in many of the services it offers, but the support is even more tailored to the local area.
D2N2 can be helpful in the start-up and growth phases of your business.
Business Gateway Growth Hub (Leicestershire)
If your business is across the border in Leicestershire, you’ll be eligible for support from the Business Gateway Growth Hub.
This is Leicestershire’s equivalent of D2N2, offering similar support but covering a different geographical area.
It may also be a useful resource to access if your business operates across both Derbyshire and Leicestershire, or services customers who live in Leicestershire.
National business support schemes
Government Business Support Portal
For businesses in England, the Government’s Business Support Service is available via phone, email and webchat.
Here, you can access advice on starting, running and growing a business, and selling, investing and expanding a business across the UK.
Advisers have access to a bank of publicly funded or subsidised schemes, so can signpost you to various other support options where appropriate.
Legal and Financial Support
The HMRC and Companies House websites provide a range of information and guidance on setting up your businesses and ensuring that your finances are properly documented. Though this is in the form of generic articles as opposed to personalised advice, it’s often a good starting point for research.
The UK Government also offers start-up loans for businesses in their first 36 months of trading. These can range in value from £500-£25,000 and come with 12 months of free business mentoring.
While the interest rate of 6% means this is by no means “free money”, it’s a great option for those needing an initial cash injection to get off the ground. This is no fee to apply and no fee for early repayment.
Seeking free vs. paid-for advice
You can benefit from a wealth of robust, high quality information available to you free of charge as you start your business in the UK.
Many of the services discussed here are either fully funded or backed by the UK Government and local councils, meaning that ‘free’ does not mean low quality. These resources can provide a huge amount of valuable support and can be a great starting point for new and growing businesses.
However, at some point you may find that you require higher level, more specialist support.
It’s always a good idea to invest in professional support when making significant financial and legal decisions.
How Buckler Spencer can help you
As a local accountancy firm in Swadlincote, our team at Buckler Spencer has experience in supporting businesses through every stage of growth.
We can help your start-up business with planning, financial forecasting and funding advice, guiding you through the early months, when financial decisions matter most. And our knowledge of the local area and business community means we’re uniquely positioned to offer local businesses tailored, relevant advice with their client base in mind.
So, if you’re ready to get started, contact us today to tell us about your business idea and see how we can help it grow.