Enterprise Enfield give cash advice boost to businesses across London (From This Is Local London)

Enterprise Enfield give cash advice boost to businesses across London

2:47pm Friday 19th March 2010 in

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ENFIELD is leading the way on helping businesses across London learn how to attract big bucks from investors.

Enterprise Enfield, a not for profit organisation which provides training and support for start up businesses across the borough, is leading a new programme, Investing for Success, which aims to raise 2.5 million for businesses across London over the next two and a half years.

The free scheme is the largest of its kind currently in London and is designed to help 165 businesses in Enfield.

Under the scheme, businesses are invited to free seminars, with some then given one to one assistance on how to raise finance, source finance and meet funders’ requirements.

It was launched in January and is financed with £1,350,000 of European Regional Development Fund cash, as well as £418,000 funding from Enfield Council to promote the service to local business.

Despina Johnson, Enterprise Enfield’s CEO said: “Business owners have had a particularly challenging time raising finance over the past year. We are certain that this much needed scheme will help overcome some of the difficulties they have faced and enable them to access the necessary funding they need to build and develop their businesses successfully.”

Tasneem Ismail, 40, of the Ridgeway, an award winning fashion designer, said the scheme had saved her both time and money.

She first founded a sleepwear business in Dubai before moving to the UK five years ago and after having launched her business, Fair Play Products, in the UK last summer, is now in talks to introduce her fair-trade organic cotton garments into John Lewis stores.

Ms Ismail said: “When I came to the UK I got married and had a child. When I launched the business I hadn’t worked for the past five years so everything was new for me. We do not have this support in Dubai – there is no support at all. It is so easy to get things done there because there are no rules and regulations but here I found there were a lot of things I needed to learn.”

Ms Ismail said the scheme had saved her money and time. She said: “It would have cost me a lot to pay someone to draw up a business plan, and I’ve also learned a lot about business by doing it myself.

“To get a bank loan you must have some kind of income and the right business plan so the bank think you can pull it off. I knew my launch was going to take at least a year so I wouldn’t have any money coming in for that time.”

“I have just five year knowledge of business so sitting down with someone experienced has been great.”

To be eligible for the programme, which runs until 2012, beneficiaries must be running a new or established business, based in London, and employ fewer than 250 people. The next seminars will be held on Thursday March 18 Thursday April 15, from 6pm – 8.30pm at Enfield Business Centre. To book a place call Enterprise Enfield on 020 8443 5457 or visit www.EnterpriseEnfield.org