How to use Virgin StartUp to grow your business

We love entrepreneurs with smart ideas. Seriously, we’re full on head-over-heels crazy for people that follow their passion, create jobs and push the UK economy forward.

But, we’re not going to lie to you - starting a business can be one of the riskiest things you can do.  You can plough endless amounts of money, time and effort and still fall short. In fact, eight out of ten startups fail in the first 18 months after launching, it’s just one of those things. But we’re doing all we can to reduce that number, which is why we encourage our Virgin StartUp entrepreneurs to start small, but dream big. It’s simple, minimize risk and prove the business model first before putting your life savings into it. With that in mind, we’re going to focus the next month to bringing you advice and inspiration to show you how others are using their Virgin StartUp Loan to create successful and sustainable businesses.

Since launching, Virgin StartUp has helped start hundreds of businesses, and given out over half a million pounds in funding.  The average amount given to each entrepreneur is £5,000.  At Pitch to Rich 2014, we asked some of the UK’s top entrepreneurs how they would’ve spent a Virgin StartUp loan when they first started. Including Holly Tucker, co-founder of Notonthehighstreet, Peter Williams, co founder of Jack Wills and Nick Jenkins, founder of Moonpig.