Prince's Trust

preciousb

Hey i recently applied for a business development grant from the prince's trust.

Had a call today confirming an information event/meeting that i can attend.

Does anyone know what happens? Or anyone been to one? Am really looking forward to it.

In general has anyone been through this that can tell me what the prince's trust can do for you when trying to set up a business?

Thanks

paulofessex

I would think it would be better if you looked at it in another way....What can l do myself, and what/where do l need the help from them.

One way they will help is to provide a business mentor so enusre you have your business plan or all the relevant information together if your struggling compling one.

Have a look on their website as this will give you more info on what service they will offer

Good luck with both your meeting and venture

flutterbyuk25

preciousb, whereabouts are you in UK?

I work for Prince's Trust but not the business side. I have some knowledge of it but only of the Welsh details, not rest of UK.

x

preciousb

Hello i am from the Midlands. I am going to start getting a proper business plan drawn up.

I never felt this excited before

moneymaker2

preciousb wrote: »

Hello i am from the Midlands. I am going to start getting a proper business plan drawn up.

I never felt this excited before

Hi Precious B,

I am currently with the princes trust and my journey started in January 2010.

I went for a 1 day informal session and filled in a few bits of paperwork and then went for a 4 day course in February which covered area's such as marketing and selling, book keeping and pricing, mentoring and business plans.

After I had completed this I then have had 2 121 sessions with a princes trust employee who has experience in marketing and life coaching. I hope that my last session with her will be next week before I start preparing for the Business launch group which is similar to dragons den. You present your business and they ask you questions and look at whether they think the business is a good idea and give you feedback on where to improve. At this time you should get told whether they will give you the start up loan you may have requested and you will then go on to be assigned a mentor who you can bounce idea's off in monthly meetings for the 1st year and then less frequently meetings in the 2nd year.

Its all been brilliant so far and I have learnt so much.

Good luck with your venture.

preciousb

When they give you a start up loan. Do they credit check you?

Mine isnt brilliant to be honest.

moneymaker2

Yes they do but mine isn't brilliant either and they give you one of 3 answers.

The first is that they can do it and lend you the full amount you need
the 2nd is that they lend you half now and then half later when you have shown that you can make payments on it and the 3rd is a straight forward no.

I think you have to have a credit score of 138 or above to get options 1 and 2 below that you will get a 3 and the credit scoring runs from -1000 to +1000.

I had a chat with them before they did the search and they said that I prob think it is worse than it is. I have been offered number 2 providing that the launch group goes ok.

preciousb

Brilliant. Thanks.

I am looking forward to this.

moneymaker2

preciousb wrote: »

Brilliant. Thanks.

I am looking forward to this.

Where abouts in the Midlands are you based and what is it that you are looking at doing?

Laura

preciousb

I am from Leicester

Its not a very unique idea, but i have got a regular top quality supplier of evening bags. Am hoping to get that up and running to be honest

moneymaker2

Virgin Media Pioneers may be worth exploring for additional support and networking. Just search for it on google and you can sign up to their Twitter as well.

I'm in Nottingham and run an Events company so not too far away from you.