Where to get Business Advice for Start Up?

sunshinesadly

I have a business plan and am looking to get some advice/mentoring/someone to look over it with me and give feedback etc. Business Link have stopped doing this thanks to Government cuts and there are no enterprise agencies in my area of the country.

I've heard that banks have business advisors - has anyone got experience of using a bank based business advisor? Or got any recommendations for which banks might be better at this sort of thing?!

Struggling a bit to find any help out there that doesn't cost an arm and a leg! Any info or advice appreciated!

Eliza_2

My business account is with Natwest and I have a lovely business advisor or whatever he's called. He's pulled my business plan to bits and helped me rebuild it, supported my request for a loan and is even going to come out to work in my business for a day - apparently that's part of his role so that Natwest advisors really get to know the businesses they work with. He also brought in various other people such as insurance, mentoring scheme people to help me (at a cost so I haven't taken them up) but they still gave me lots of free advice too.

But I bet all of the banks do something similar - maybe I'm just lucky or maybe they are all as good. I am the biggest bank-sceptic but this experience has slightly restored my faith!

My accountant also offers business planning and development too but I haven't used him for that - might be worth checking there but so far I'm not impressed by accountants!!!

You can educate yourself massively too for free and use website forums such as ukbusiness which has masses of information, even places like individual accountants' websites are full of help.

Good luck, I thought I would need far more help than I actual did at the beginning but in the end didn't need as much as I expected.

Liz

WLM21

When I saw the title of your posting I was going to suggest Business Link, but was shocked to read your full posting and learned that they have stopped this service.

Maybe ! the Job Centre (or whatever it is called nowadays) has an advisor, or at least knows about business start-up advisors.

Worth a trip, or a phone call.

Good luck in your venture !

ps As Eliza mentioned, a bank could be good too. Many years ago I started a business and used Lloyds Bank. They gave me a very useful Business Start-up book ... but that may have stopped now.

sunshinesadly

Helpful postings, thanks! Perhaps will trawl bank websites to see what they have on offer!

luminated

sunshinesadly wrote: »

Helpful postings, thanks! Perhaps will trawl bank websites to see what they have on offer!

A few years back all the banks had excellent written literature for such cases. With lots and lots of information even a CD with extra stuff. But not sure if they still do that now with the cuts.

Good luck.

kezlou

We use Natwest for our business banking and our advisor has been great. He looked over our business plan and tweaked it a bit.

We used Business Link and another place called Enterprise which are currently still available till the 31 March 2012. I think the same applies to Business Link.

AnE and Inbiz assist with business plans and also hold sessions to help you with accounting and setting up, these are all free as well to use.

Best of luck.

paulwf

Chances are there are loads of local business networking groups. They can sometimes be hard to find but keep digging and also see if your local newspaper has a business supplement (mine does once a month). You'd be surprised how generous people can be with their advice when starting up so I think going to some networking groups might be beneficial.

Do you require a bank loan? If so I might be a little cautious approaching the bank you prefer first. My thinking is that you want to make the mistakes and have your business plan picked apart by others where it isn't important before you go and pitch for funding. By no means would a bank expect you to have a 100% polished plan at the first meeting but first impressions do count so it might be good to get other advice first. That's just my thinking, happy to be proved wrong if others have had other experiences.

sunshinesadly

paulwf wrote: »

Do you require a bank loan? If so I might be a little cautious approaching the bank you prefer first. My thinking is that you want to make the mistakes and have your business plan picked apart by others where it isn't important before you go and pitch for funding. By no means would a bank expect you to have a 100% polished plan at the first meeting but first impressions do count so it might be good to get other advice first. That's just my thinking, happy to be proved wrong if others have had other experiences.

A wise observation!

sunshinesadly

kezlou wrote: »

We used Business Link and another place called Enterprise which are currently still available till the 31 March 2012. I think the same applies to Business Link.

AnE and Inbiz assist with business plans and also hold sessions to help you with accounting and setting up, these are all free as well to use.

Thanks for the info! Can't find Enterprise or AnE on the web, but have found Inbiz and their link with an agency called Avanta who do seem to help people set up businesses. I'll see if they have any criteria to go with that, like having to be unemployed or something. There seems plenty of help out there if you're under 25 or unemployed and want to set up a business, but otherwise not!

Have been in touch with Business Link and they're not up for helping - perhaps their busy seeing out existing customers?

Mistral001

paulwf wrote: »

Do you require a bank loan? If so I might be a little cautious approaching the bank you prefer first. My thinking is that you want to make the mistakes and have your business plan picked apart by others where it isn't important before you go and pitch for funding. By no means would a bank expect you to have a 100% polished plan at the first meeting but first impressions do count so it might be good to get other advice first. That's just my thinking, happy to be proved wrong if others have had other experiences.

It might work in the short term but really banks are not stupid and will know what you are doing. Why make enemies when starting of in business. You need all the friends you can get.

BryanSmallBiz

Last time I checked, BusinessLink were still offering free training courses - extensively supported / sponsored by local businesses, such as banks and firms of accountants.
Try a few local business networking events (BNI / FSB / 4N) etc. Some will probably try to sell to you directly, but others will invest in offering to help in the hope that, longer term, you'll recommend them to others.