Former armed services urged to apply for new business start-up fund
Former members of the UK Armed Services are being urged to take advantage of a new national scheme to help them set up in business.
Business support specialist Blue Orchid has been awarded a contract to run the ‘Be The Boss’ programme on behalf of The Royal British Legion and Poppyscotland.
Blue Orchid will manage the £5million start-up and business growth programme, giving ex-Service men and women in Evesham the chance to realise their dreams when they return to ‘Civvy Street.’
Funding from the Department of Business, Innovation and Skills (BIS) is enabling hundreds of ex-military personnel to create or grow their own business. Start-up businesses are eligible for funding of up to £7,500. Established businesses that have been trading for less than 24 months can apply for growth funding of up to £30,000.
Successful applicants will undergo training on how to run a small business, learn how to compile a business plan and financial forecast, get assistance with funding applications, receive regular business health checks and benefit from ongoing business support and mentoring.
Heather Hayes, Managing Director of Blue Orchid, said: “Blue Orchid is delighted to have been selected by The Royal British Legion to bring our proven expertise to such an exciting and worthwhile scheme.
“Demand is certainly high. Since we began our involvement in October this year there have been nearly 300 enquiries and the first successful applicants have already been granted start-up funding.”
Shegufta Rahman of The Royal British Legion said: “The skills developed by personnel during their careers in the Armed Forces such as leadership, teamwork, communication and attention to detail are compatible with running a successful business.
“Ex-Service men and women also tend to be motivated, hard-working people who relish the prospect of successfully tackling a challenge - perfect credentials for running a entrepreneurial business and making a success in enterprise.
Blue Orchid has a track record of successfully working with ex-members of the Armed Services.
The ‘Be the Boss’ project is being rolled out against a backdrop of Ministry of Defence efficiency savings announced by the government in the Strategic Defence and Security Review a year ago which The Royal British Legion says is contributing to around 24,000 men and women leaving the Army, RAF and Royal Navy every year.
The scheme is open to all Armed Services leavers (including Reserve Forces) regardless of their discharge date. Applications are encouraged from those who have an injury, long-term condition or disability.
Blue Orchid training and business specialists will work with partners Business Finance North West to manage the ‘Be the Boss’ loan fund, and A4e and Franchising Works to offer business start-up and franchising support.
Representatives from Blue Orchid – in partnership with The Royal British Legion – attended the Business Start-Up Show at Earls Court, London in November to help promote the project, including giving a presentation ‘From Civvy Street to Entrepreneur’.
Blue Orchid was founded in 2001 and has grown rapidly by gaining accredited provider status for major clients, increasing its staff to 70 and gaining a reputation as an industry leader.
More information on ‘Be the Boss’ is available on CivvyStreet, www.civvystreet.org/betheboss and on the Legion website, www.britishlegion.org.uk. Alternatively, call 0800 678 5787 or email betheboss@civvystreet.org for more information.
