Help for young people wanting to start up their own business
WSX Enterprise is offering start-up loans to 18-30 year olds who wish to become self-employed and set up a business. The loans are also available to businesses that have been trading for less than one year. Along with the loan, WSX will provide a business mentor to work with successful applicants, providing help and support as they establish their new business.
With many of the loans on offer today, recipients are given money and left to spend it as they see fit. Starting a new business can be a lonely and frightening experience and the risk of making mistakes in the early days is high. It is therefore very easy to spend loan money on something that either doesn’t fully benefit your business or worse still on something that actually harms your business.
Having a business mentor to bounce ideas off and to guide you through the complexities of establishing a business, lowers the risk considerably and ensures you spend your loan money as wisely as possible.
There can be many decisions to make when establishing a business? Do I need premises or can I work from home? What insurance cover do I need? What marketing and PR activities will benefit my business? How do I find new customers? By working with your mentor to prioritise these decisions, a start-up loan from WSX can be used to ensure you give yourself the best possible chance of establishing a presence in your marketplace.
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Loans are available up to £5000 at just 6 per cent interest, payable over five years. There is also the option of deferring capital repayments by up to one year.
An application form can be downloaded from the WSX website www.wsxenterprise.co.uk or if anyone has any queries about the scheme they can telephone WSX on 01329 223212.