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New business start-ups

Eleven new business start-ups launched in the first month of 2016 with the help of The Hive’s managing tenant North Somerset Enterprise Agency (NSEA).  The ventures ranged from a pizza delivery service to a mobile barber and an agricultural contractor to an online magazine, with all receiving local and personal business support to help their owners achieve their ambitions.

The number of new businesses launched in January is slightly higher than the same period last year when eight new businesses started out, six of whom (75%) are still successfully trading 12 months on.  It is also slightly higher than three years ago when 10 new businesses launched, six of whom (60%) are still trading.

Throughout 2015 NSEA helped between 24 and 28 businesses per quarter start-out, with a total of 106 NSEA-supported new businesses launched in total, creating 121 jobs in North Somerset.  NSEA also offered one-to-one advice to 1093 businesses and ran 75 training courses, covering everything from financial planning to intellectual property and export.

NSEA has also seen success with feedback from businesses that it has worked with historically.  Of the 87 businesses that the agency helped to launch in 2012 – three years ago and the acknowledged point by which most businesses fail according to statistics – three quarters (75%) are still successfully trading.  Moreover 84 per cent of the 125 businesses that we supported in launching in 2014 are also surviving – and, in many cases, thriving – in business.

Angela Hicks, Chief Executive of NSEA, says that whilst she is pleased with latest figures, she is hoping that more people starting their own businesses in North Somerset in 2016 will access the free support and advice that is awaiting them in their local area.

“Research shows that those who seek support in the setting up and running of their businesses are more likely to survive and thrive.  Unfortunately many people think they have to find extra money to access this help and advice, not realising that there is high quality, personalised and tailored support – much of which is free – awaiting them, right here on their doorstep!

“Quite simply, the more advice people take about setting up, the more successful they are likely to be. It’s important to prepare properly right at the beginning to avoid getting stuck two or three years down the line.  It’s also vital that as businesses progress, they don’t wait until they are in trouble to seek advice.” Angela continues.

“Our friendly and experienced business advisors who are locally-based so have a wealth of useful contacts and knowledge at their fingertips are only a phone call away to advise businesses who are starting out or who need help to grow.  With most of our services being entirely free or low-cost, local business enterprises have very little to lose and everything to gain from coming to us.”

If you would like to know more about NSEA and it’s work please visit their website.