3 Oct 2012
Apply for Start-Up Loans
Are you aged between 18-24, wondering what it would be like to run your own business and living in England? Answered a loud ‘yes’?. Then you’re in luck. As of Wednesday 3rd October 2012 you can apply for a Start-Up Loan. The average loan size that is on offer from the Start-Up Loans Company is £2,500.
More than just a loan
The Start-Up Loans Company won’t simply lend you money, they’ll give you a mentor ‘on loan’ too. An entrepreneur’s journey is a unique one so you’ll have someone on hand who’s been through the highs and lows as an entrepreneur themself. Here at Virgin Media Pioneers, we know what great things you can achieve when you have the support to get your business off the ground. The three Pioneers – Ronke Ige (founder of Emi & Ben), Abdul Khan (founder of ratethatcurry.com) and Zoe Jackson (founder of Living The Dream) – who led the campaign on the behalf of the community, weren’t just responsible for developing the initial idea, their energy and creativity was really central to making it happen. Zoe will also be involved on an ongoing basis as an official Start-Up Loans ambassador.
“Today we are open for business. What’s inspired me to get involved is really listening to young entrepreneurs like Zoe.” – James Caan
Why did Virgin Media Pioneers campaign?
Our campaign came from the Pioneers community, after the idea was included in a report we published in November 2011 under the title ‘Control Shift’. The kernel of the idea came about from questioning why loans were available to students who wanted to go to university but not available to young people who wanted to start their own businesses. The three Pioneers (Ronke Ige, Abdul Khan and Zoe Jackson) weren’t just responsible for coming up with the initial idea, their energy and creativity was really central to Virgin Media’s contribution to the campaign. All three of them perfectly embody what the Pioneers community is about and why we find it so inspiring. We love the fact that the Virgin Media Pioneers community offers a digital space for good and isn’t just a place for entrepreneurs to showcase their own businesses.
How did the campaign turn into Start-Up Loans?
As every entrepreneur knows, good ideas grow. Once the idea was out there, it gained support from fellow enterprise support organisations, the Department for Business, Innovation and Skills and young entrepreneurs across the UK. In March 2012, a pilot scheme was successfully announced.
Wednesday 3rd October 2012 is the first day Start-Up Loans are accepting applications.