What do entrepreneurs need from a bank?


What do entrepreneurs need from a bank?

Over the coming weeks you can hear from entrepreneurs we have supported through our partnerships with Entrepreneurial Spark, The Prince’s Trust and Women in Business.

Setting up a business can be a daunting experience.

 

Setting up a business can be a daunting experience so it’s important that we do all we can to understand the mindset of entrepreneurs and what they need to succeed. Our committment to setting up business accelerator hubs across the country is part of the support we are offering.

Jackie Scanlon, who already owns two nail salons and hopes to expand by franchising, needed help to identify and understand the growth potential in her business. She also valued the opportunity to meet and talk to fellow entrepreneurs about common challenges they faced. Watch Jackie talk about the support she got from Entrepreneurial Spark and RBS.

 

Gordon Merrylees, Head of Entrepreneurship, says: “By setting up these hubs in partnership with Entrepreneurial Spark, we’re providing free office facilities, mentoring, a start-up ‘boot camp’ and a programme of support that includes advice and funding. All of this is helping ambitious entrepreneurs take their business to the next level.”

What is Entrepreneurial Spark?

Entrepreneurial Spark is the world’s largest free business accelerator for start-up, early stage and growing businesses. It encourages entrepreneurship though the development of the right mindset and behaviours. Over 80% of businesses which have been through the Entrepreneurial Spark programme are still trading after a year.  These businesses have created 1,000 jobs and have been awarded 386 patents. Over 2015/2016 our partnership with Entrepreneurial Spark will see eight new business accelerator hubs, in locations including Birmingham, Brighton, Bristol, Cardiff, Leeds, Manchester and Belfast, with other locations to follow.

 

How does an entrepreneur join a hub?

Entrepreneurs, known as ‘chiclets’, are selected through a competitive process to take part in the programme which is designed to help their business become more investible. It focuses on developing an entrepreneur to grow a successful business. For more information, go to www.entrepreneurial-spark.com



How will an entrepreneur benefit from being part of a business accelerator hub?

Successful candidates get access to a hub, known as a ‘hatchery’; a physical workspaces for an initial six-month period, where they are supported and challenged daily. This collaborative environment offers start-ups access to office space, superfast internet, a ‘boot-camp’, mentoring, regular events, workshops and training from both Entrepreneurial Spark and bank employees – all free of charge. No equity stake is taken in any of the start-ups.

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