Friday, July 20, 2012

News: UKSE funding provides kickstart for Rotherham's young entrepreneurs


UK Steel Enterprise (UKSE) has set aside finance from its Kickstart Fund to target 30 young entrepreneurs in Rotherham with small scale finance that can make all the difference when starting a new business.

UK Steel Enterprise is a wholly owned subsidiary of Tata Steel. Its main investment fund provides business finance in amounts from £25,000 up to £750,000 to a wide variety of companies with the aim of encouraging business growth and job creation in areas affected by changes in the steel industry.

The Kickstart Fund makes grants of up to £500 to pay for essential equipment or materials to people looking to launch a new business or those that are in the early stages of trading.

Keith Williams, regional manager for UK Steel Enterprise says the conscious decision to support young people is in response to seeing some great examples of enterprise from previous investments.

"We have been running the Kickstart Fund to help small start-ups in Rotherham since 2009 and have been inspired by some of the young people we have met in the town. Their business ideas, determination and can do attitudes are excellent, which is why we have taken the decision to look for another 30 young entrepreneurs to support.

"Young people don't tend to have access to finance or have much in the way of savings when thinking about starting a business so £500 can make all the difference. It may pay for new IT equipment or essential materials but so often it can provide the boost needed to get the aspiring entrepreneur on the way to success."

Jenny Mortimer is a previous recipient of funding from the Kickstart Fund and went on to set up Kyna Boutique, a children's luxury organic clothing retailer in Aston with her partner Jamie.

When asked about the importance of the Kickstart funding the pair received last year she said: "It was integral to us getting going. We used it to buy stock from a particular brand which has since gone on to be one of our best sellers."

Kyna is just one of the businesses supported by Rotherham Youth Enterprise. The council run service uses European funding to provide self-employment support and advice for young adults in the area. It also offers rent free space in RiDO's business centres.

UK Steel Enterprise website

Rotherham Youth Enterprise

Kyna Boutique website



Anonymous,  July 20, 2012 at 10:32 AM  

What an excellent initiative - good luck to all the new businesses that get funding.

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