Connecting you to opportunity Stimulating Enterprise through Coaching

Connecting you to opportunity

Stimulating Enterprise through Coaching.


Stimulating Enterprise Through Coaching.

Aftab khan

Project Manager

Birmingham Chamber of Commerce



“The project aims to build an entrepreneurial culture in deprived communities where it is currently absent and will require more people to become self employed and start their own business.”



Funded by Working Neighbourhood Fund

The programme delivers the Birmingham City Council LAA Priority Outcome: Outcome 2: Increase the city’s economic output and productivity through expansion of key growth sectors, greater enterprise and innovation in high value activity. Part of this priority outcome focuses on enterprise and new business creation.







The Project will achieve this by:-• Engaging with communities at a local level• Work through these agencies to get directly to individuals who might benefit• Deliver the services in the local communities• Make links to the wider range of business start up services available



The Challenge?


Stimulating Enterprise Through Coaching.Build confidence and trustOvercoming barriersLinking SupportEnterprise PlanLack of financial capability Changes in the economic climate Market saturation Fictitious unemployment


Delivery



•Delivered across the most deprived wards of Birmingham•Focus on engaging and coaching clients•Work through trusted networks (Libraries, Community Centres faith organisation colleges etc.)•3 coaches deployed to deliver the service•SLA with Birmingham chamber training



Coach AgenciesPrinces trust

B:rapBDS

B’ham EntBham Venture

I-SE

OutputsCommunities

BLWM

JC+

DWP



IndividualUnderstanding of Business Process

Financing the BusinessWorking through the Business idea



Individual

Legal

Skills

Abilities

Previous experience

Family commitments / support

Motivation

Reasons for self employment

What is stopping them



Understanding of Business Process

Business Structures

Business Model

Legal obligations

VAT / TAX

Back office functions

Terms of business

Contracts

Employing people



Financing the Business

How much money is required to launch and sustain the business

Where will it come from / How will you raise it

Financial institutions

Costs of doing business

Cash flow

Profit margins



Working through the Business idea

Competition

Business model

Suppliers

How will you get customers

Will it make money ? When?

Cost to develop

Is it legal



Individual takes responsibilityDrive the paceCoach encourages and supportsWhen ready they move onto main stream start up provision



Business AwarenessSeminar

Access to Finance

Legal Issues MarketingBusiness

Plan

Access to a Business Adviser for 12 months



Profile0ct09- March11

Actual0ct09- Mar 11

Clients

Engaged750 1500

Clients referred to main stream support

250 610

Clients setting up in Business

101 99


Conclusion


Huge demand for enterprise Support specifically coaching

Lack of business acumen is prevalent in deprived areas

Trusted networks way forward for enterprise support

Grant biased assistance essential for future delivery

The programme was successful in reaching the hard to reach communities



Thank you

Questions

Documents

Connecting you to opportunity Stimulating Enterprise through Coaching