Let’s Do Enterprise
DATES: 2 & 16 May 2007
PARTNERS
Wider Impact, Terry Broadhurst (ex Four-Tec Fabrications Ltd), Igsaw, The Hanley Economic, Beth Johnson Housing Association, Dreamair, Staffordshire University, Business Initiative, Business Innovation Centre, Revenue & Customs, Premier IT, North Staffordshire Chamber of Commerce & Industry, Staffordshire University, Exesios, Michelin Development Loan Fund, Stoke on Trent City Council Economic Development Unit, Business Brokers
BACKGROUND
The first Let’s Do Enterprise in September 2006 proved very popular and confirmed that there was a lot of entrepreneurial talent around the city of Stoke on Trent with 54 candidates registering over 2 days for the chance to present their business idea. It proved that candidates plucked up the courage to attend the event, presenting their business ideas, and positive feedback and encouragement from the panel gave several of them the extra confidence needed to proactively proceed with starting up their own businesses.
Registered social landlord Beth Johnson Housing Association (BCHA) approached the business brokers to see whether we could help them to engage residents in the Northwood area in the form of another Let’s Do Enterprise event. BCHA own housing stock throughout the city and wanted to give the community, particularly in Northwood, the chance to explore the possibility of becoming self-employed.
OBJECTIVE
The Business Brokers wanted to give a boost to the low business start-up rate in the area by giving volunteers (senior business people) a chance to:
• Give something back to the community
• Build up new partnerships
• Take inspiration and think of new approaches in their own businesses
• Develop a mentoring relationship with selected candidates
• Get ‘job satisfaction’ from using their expertise gained from years of experience
• Play a role in improving the general regeneration process to ultimately benefit the overall local economy
Presenting their business idea and attending the workshop would enable candidates to:
• Build up their confidence
• Take the opportunity to test their ideas
• Enter into a support network and engage with other entrepreneurs
• Create networks and enter into partnerships to avoid isolation
THE ACTIVITY
The total event took place over two days at the Hope Centre, Hanley. This venue was suggested by Beth Johnson Housing Association and chosen for its convenient and central location, including disabled access.
Day 1 - Spread over 5 sessions a total of 22 candidates came to pitch their business idea in front of a panel of 3-5 experienced business people, who had given up their time for free. Each candidate was given 15 minutes to present their idea after which the panel would give constructive and positive feedback to move the idea forward towards making it reality.
Day 2 - The 10 candidates with the highest scores were invited to a workshop, where they were able to listen to, learn from and meet various business support agencies. There were 10-minute formal presentations followed by a chance for candidates to have one-to-one discussions with the presenters. Finally there was a networking opportunity over lunch followed by allocation of prizes.
Based on score sheets filled in by the panel members the best candidates would be rewarded with a top cash prize of £2,000 and 3 runner-up prizes, which were vouchers for PC World donated by Beth Johnson Housing Association.
IMPACT
A total of
• 22 budding entrepreneurs brought business ideas to the panel
• 6 business volunteers sat on the judging panel
• 9 representatives provided business support presentations during the workshop, which consisted of 4 businesses, 4 public agencies and 1 educational establishment
• 4 prizes to help with startup costs (1 x £2,000 cash, 2 x £100 IT equipment vouchers, 1 x £50 IT equipment voucher)
LINK TO NEIGHBOURHOOD RENEWAL
The event was playing a part in the local regeneration process by targeting:
• Low rate of business start-ups
• Deprived neighbourhoods – the event was held in Northwood, one of the priority investment areas
• Lack of aspirations and low confidence
• Worklessness agenda by making it easier to become self-employed
• Low or lack of skills – the university was present to encourage higher education
• Entrepreneurs to find business premises in suitable locations
QUOTES
Philip Anderson:
“I am very grateful for having got the opportunity to take part in the event, which I found very useful. I was very encouraged by the panel’s comments. The marketing and branding presentation in particular was incredibly enlightening and positive. It was nice to hear about things that I should know, not least what I heard from Business Initiative. I am really delighted to have won – I would have been happy just to get in the top 10. The money is very welcome and will be used for marketing and launch of the project. Thank you very much, Business Brokers!?
