Start-up fund lends £225,000 to East Mids businesses
First Enterprise Business Agency (FEBA) has reported a rise in the number of potential entrepreneurs seeking investment to start their own businesses in Nottinghamshire and Derbyshire.
The business support organisation said it had lent £225,000 to start-ups in the region over the last year.
FEBA delivers a fund on behalf of Enterprise Loans East Midlands for aspiring entrepreneurs.
Richard Tyas, enterprise development manager at FEBA says: "Even in these difficult times, people are still managing to find opportunities following redundancy.
"I think it’s a case of employed positions being increasingly harder to find. Plus, people who may have received a redundancy payout have suddenly found they have capital to invest in a new business idea that they may otherwise only have ever dreamed about.
"We are also seeing a rise in people buying into franchises as these can often offer a lower risk due to the brand already being established."
Tyas said entrepreneurs in fields including catering, health and beauty, the music industry and the motor trade have all received investment.
He said: "In the last 12 months, we have lent £118,000 to help start-ups in Nottinghamshire and £107,000 to businesses across Derbyshire and we are actively seeking applications from more start-ups or those wishing to grow their existing businesses."
