How to start a business

It’s a great time to start a business in Faversham, the Isle of Sheppey or Sittingbourne as a range of support and funding is available in the Borough.  Many individuals who choose to start a business love the idea of quitting the corporate world and becoming their own boss, or have always had an idea that they would like to see made into a reality.  According to the Centre for Entrepreneurs, 581,000 new companies started in 2014 and there is expected to be more than 600,000 new starts by the end of 2015.  This ‘How to start a business’ post describes the funding and business support available to new starters in the Borough of Swale,

How to start a business

The initial steps towards starting a business can appear an intimidating prospect particularly when initial costs, the need to keep accounts, marketing and a business plan are considered.  Whilst there are many stories which could dissuade you from pursuing your idea, the Swale Means Business website also features a number of case studies to help build your confidence and develop your ideas such as:

• Efern Sowing Services used the business support available through Swale Borough Council to launch their company which provides design and production for men and womenswear, as well as bespoke tailoring and sewing services.
• TK Arts are a company who provide a wide range of circus, drama and street theatre workshops and projects for children and young people.  The founder, Tom Kellett received business support through Swale Borough Council on subjects including tax, national insurance, legal frameworks, marketing, publicity and website creation.

Funding

Financial support for a company can take many forms such as grants or loans and can be accessed from a number of sources including the Government, banks or charities which operate the schemes.  A range of options are listed in the funding section of the Swale Means Business website, but it is important to take into consideration the differing criteria of each scheme and to see which best meets the aims of your business.  The current funding schemes for start-ups include:

Loans from the Fredericks Foundation, which is an independent organisation offering financial support of £10,000 to start-ups who have been unsuccessful in securing funding from a High Street lender.