NES Success!
People from disadvantaged areas and backgrounds often have the ideas and ambition to succeed in business but many find it hard to get support and finance relevant to their needs. The New Entrepreneur Scholarships (NES) programme can help. The £6 million programme has six years experience in helping people in the most disadvantaged areas of Merseyside set up successful and sustainable businesses and the results of a recent evaluation has highlighted just how much of a positive impact the programme has had since its inception.
The NES programme has helped 5500 individuals living in the 25% most deprived areas of England overcome these difficulties, by providing a comprehensive package of training, support, mentoring and funding to encourage and support the start up and growth of new businesses. Funded by the Learning and Skills Council (LSC) and managed by the National Federation of Enterprise Agencies, The Association of Business Schools and The Prince’s Trust, the programme is based on the specific needs of the learners, works closely with Liverpool John Moores University (in the Merseyside region) and draws on specialised skills of business support organisations.
The NES programme runs for a total of 13 weeks at the Mount Pleasant Campus in Liverpool. Alongside the lectures attendees are required to work with a select team of business advisors who support work on the business plan.
At the end of the programme, attendees are required to have a completed business plan ready to present to the funding panel. They must also have had a minimum of at least 80% attendance and have completed the IT training to qualify for the business funding panel meeting.
The recent research highlights that the NES programme has a fundamental part to play in the success of new business start ups and reducing economic inactivity and unemployment, with 75% of NES scholars going on to start their own business within three months of completing the programme. These businesses have an extremely high start up and survival rate with 94% still in business after a year, 86% after three years and 76% after five years. Of the few scholars that never start a business, or one that doesn’t continue, around half (47%) enter or return to employment.
George Derbyshire, CEO at the National Federation of Enterprise Agencies, the lead management partner for the NES delivery, said: “We have always believed that the New Entrepreneur Scholarships programme hits the spot in terms of reaching disadvantaged areas of the population and that it delivers a highly effective business start up programme.
For more information on the delivery of the New Entrepreneurs Scholarships programme in Merseyside, please contact Amanda Smith, NES Programme, Liverpool Chamber of Commerce. E: amanda.smith@liverpoolchamber.org.uk, T: 0151 236 1234
How the NES scheme helped me...
Adrienne Taylor was lucky enough to launch her business when she was on the programme. The Good Food Store offers the very best of local food and drink which you can order online and have delivered to your door at a time that suits you.
Adrienne was recommended the programme when she was looking for funding and has never looked back since. She said: “I have to admit that its one of the most useful things I’ve ever done and has helped me enormously in developing my ideas.
Although the comprehensive training was quite intense I relished the challenge and loved being in a like-minded environment where you were encouraged to ask questions, share ideas and make friends.
For anyone who is thinking about doing the programme I would have to say that you must make sure that you put everything into it. Make the most of the tutors and business advisors as they have an enormous wealth of expertise and will be happy to help you long after the course has finished.”
For more information on Good Food Store please visit: www.goodfoodstore.co.uk or email: shop@goodfoodstore.co.uk
