How to get funding for your startup business


Virgin StartUp is the new not-for-profit company
in the Virgin Group, and we’re here to help entrepreneurs turn their business dreams into
a reality. We can provide funding, advice, resources and support to help you every step
of the way. It’s really easy to apply for a Virgin StartUp
Loan. Step one is to find out if you’re eligible. So if you’re 18 or over, live in England,
and have a great business idea or a business that’s been trading for less than 12 months
then we’d love to help you. Step two is to head on over to the website at virginstartup.org
and click on the “Register” button. We’ll ask you to pop a couple of details into a
form and one of our partners will give you a call within two working days. They’ll talk
to you about your business idea, assess what type of stage you’re at, and decide how best
to take your application forward. This could either be attending one of our workshops or
working one on one with a business advisor to refine your business plan. And so we are
here in Newcastle today at the first part of this Virgin Hot House tour to get more
entrepreneurs really excited about being part of this process where they can apply for finance,
and also get mentoring so that they can build their businesses as well. Step three is to
work one on one with a business advisor. They’ll help you with your business plan, so thinking
about your market research, your advertising, your marketing strategy. They’ll then help
you with your financial forecasts, so your cash-flow statement, your P&L forecasts and
your personal survival budget. Your business plan and your financial forecasts together
make your loan application which will be submitted to the loans panel for a decision. Your business
advisor will work with you every step of the way to help you refine your business plan
and your forecast to make sure that when it’s submitted to panel it stands every chance
of success. We are Season’s Plenty Catering. I’m Corrie
and this is Jenny. Our catering company does food for weddings down to corporate events,
and we’ve just had our loan approved by Virgin. They helped me work out my business plan,
they helped me perfect it – basically fine-tuned everything and then once my business plan
was perfected and we were all happy with it, then I got the loan through. If you’ve ever dreamt of running your own
business, there’s so much help and support that Virgin StartUp can offer you. So get
online to virginstartup.org, pop in your details and get the ball rolling.

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2 thoughts on “How to get funding for your startup business

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