A mentor is someone who will encourage and support you to make the most of yourself and your business.
Although the final decisions are always in your hands, a mentor can be invaluable in guiding you to identify the support you need, consider your options and get new information. As mentor, their role is to be a trusted confidante, helping you, as the mentee, to make informed choices.
Mentoring is as important, if not more so, than the loan itself
Your Start Up Loan mentor will help you succeed
You are not only provided with the capital to start your business, but your loan is coupled with a mentor, critical to your business having the best chance at success.
Mentoring is an invaluable part of the Start Up Loans programme, and can be the difference between success and failure.
Why use a mentor for your business?
Figures suggests that 70 per cent of small businesses that receive mentoring survive for five years or more, which is double the rate compared with non-mentored entrepreneurs, and are 20 per cent more likely to experience growth. But more importantly your mentor will be a sounding board, helping in the initial stages of business development making your entrepreneurial journey seems less of a lonely one.
Free membership of the Institute of Enterprise and Entrepreneurs
All applicants who successfully access a Start up Loan are eligible for free membership of the Institute of Enterprise and Entrepreneurs (IOEE). The IOEE provides an online, member-to-member learning community, mentor directory and monthly enterprise newsletter. For further information and to find a trained mentor visit www.ioee.co.uk