north norfolk pathfinder business advice project presentation to pathfinder conference
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NORTH NORFOLK PATHFINDER BUSINESS ADVICE PROJECT Presentation to Pathfinder Conference 22 March 2011 Ian Groves. THE PATHFINDER AREA. BUSINESS ADVICE PROJECT. Available to all businesses in coastal communities, Stalham and Happing Partnership area Up to £1,550 of free business advice - PowerPoint PPT PresentationTRANSCRIPT
NORTH NORFOLK PATHFINDERBUSINESS ADVICE PROJECT
Presentation to Pathfinder Conference
22 March 2011
Ian Groves
THE PATHFINDER AREA
BUSINESS ADVICE PROJECT
Available to all businesses in coastal communities, Stalham and Happing Partnership area
Up to £1,550 of free business advice Consultation with Business Link East £450 voucher to offset against specialist advice Business planning
Follow-on projects
BUSINESSES SIGNED UP
185 meetings attended between June and December 2010
99 businesses signed up in total
– 75% from coastal area All communities between Sheringham and
Waxham and inland
RESULTS SO FAR
Specialist advice being provided in a variety of areas
– Marketing and planning most popular Many have requested business planning Bigger issues also raised Very positive feedback...
ISSUES OUTSIDE PATHFINDER
Sea defences Coast road Community projects Bus services Signage Local area marketing
LESSONS LEARNED
High levels of entrepreneurship and cooperation
Many businesses can be assisted with issues
Flexibility in response
A welcome boost to local businesses...
Business Planning, Strategy and Advice
Andrew Wilson
NWES
• BIS registered Enterprise Agency
• N Norfolk for 10 years
• 9 delivery staff
• Support track record
• 9500 support sessions
NWES Delivery
• Build on partners work
• Business planning
• Strategy based
• Risk identification
• Market & PR positioning
• Financial projections
• Client driven
Project Changes
• Strategy / Advice
• Relationship duration
• Extension
• NWES produced
Client Barriers• Access to Finance
• Client perception?
• Business viability concerns
• Security
• Solutions• Business Plan
• Enterprise Finance Guarantee Scheme (EFG)
• Joint meetings with banks
• CDFI fund
Client Barriers
• Planning permission• Perception?
• Solutions• Named planning contact• Business Plan
Client Barriers
• Rollback land costs
• No saleable asset for contribution• Infrastructure
• Solutions
• Business Plan• CDFI Loan• Grants
Client Barriers
• Unviable businesses• Not erosion linked• Client unaware
• Solutions• Strategy discussions• Client decision• Business Plan
Client barriers
• Business acumen• No monitoring• No planning
• Solutions• Establish systems• Professionals engaged by vouchers• Ongoing support
What next?
• 33 referrals so far
• 30 still active
• More NWES driven
• Project Toolkit
Summary
• Business Planning, Strategy and Advice
• Intensive relationship
• Evidence of success
• Work in progress