An innovative programme is helping ex-Service men and women to find out more about franchising in association with The Royal British Legion’s ‘Be the Boss’ (BtB) programme.
FranchisingWorks is one of a small consortium including Blue Orchid, A4e and Business Finance North West that has recently been appointed by the Legion to deliver the BtB programme across the UK. BtB is a service aimed at supporting UK Service Leavers to plan, fund and grow their own small businesses. Funded by the UK Department for Business, Innovation and Skills, the Legion and its partner organisations will offer:
• training in small business set-up; • assistance in writing a business plan and financial forecast; • funding to assist in the launch or growth of a business; and • periodic health checks and business mentoring to applicants from across the UK. BtB came into existence in June 2010 and has so far attracted interest from over 2,000 Service Leavers interested in starting up their own business.
“The transition from Service life to Civvy Street can be a very difficult time for many Service Leavers,” points out Simon McNeill-Ritchie, Managing Director of FranchisingWorks. Franchising offers a structured working environment, built on systems and procedures in a similar way to life in the Armed Forces. Many franchisors are aware of these similarities and welcome the opportunity to engage with former Armed Forces personnel.”
BtB will refer interested franchising candidates to FranchisingWorks who then offer:
• workshops to help understand franchising; • one-to-one sessions to assist with business planning and market research; and • introductions to approved franchisors.
Are you eligible? The programme is open to anyone who left active service in the UK Armed Forces and intends to start-up or grow a small-business in the UK. Applicants should first register on the Legion’s employment and training portal, Civvy Street: www.civvystreet.org/betheboss. Applicants must be legally resident in the UK, register their business in the UK and meet additional eligibility criteria. Existing business seeking funding must have been trading for no more than two years. In order to apply for grant and loan funding, applicants must complete training in business start-up or growth with Blue Orchid. Blue Orchid’s programme of Preparing to Run Your Own Business is all about offering a flexible approach to learning about, and preparing for self-employment. The SFEDI approved programme is modular in design, with seven core modules and a wide menu of optional modules that ensure the training and advice is tailored to your own business. You will be working with your own dedicated Business Advisor; through FranchisingWorks should you choose to adopt a franchising business model, to tailor support to your individual requirements and to assist you with completing a business plan and financial forecast.
Financial support Financial support will be offered in a ratio of 25% grant and 75% loan and start up funding is capped at £7,500. Additional funding will continue to be available, up to a total of £30,000 per person, based upon business success and financial management of programme funds. BtB grants and loans can only be used for establishing or growing a business in accordance with a business or growth plan confirmed by an accredited business advisor. In general, funds cannot be used for personal expenses unrelated to the business, personal debt, travel, purchase of property, investment in certain large-scale national industries, training, licensing or accreditation. Additional details on limits of funding use are available in programme materials.
On-going support Participants receiving funding will be offered on-going business mentoring and regular health-checks for the first 12 months of trading, helping them to proactively identify and resolve problems as well as manage revenue and debt effectively. The Legion is committed to supporting Service Leavers to build on the training and discipline they developed in the Armed Services, leverage it to become equally successful in enterprise and create their opportunity to Be the Boss.
NOTE: Be the Boss offers training, funding and mentoring to all Service Leavers regardless of the business model they choose to adopt.
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