Welcome to Virgin Start Up
Thanks for choosing Virgin StartUp to help you turn your business idea into a reality!
Virgin StartUp, with support from the Virgin Group, is run on a not for profit basis, so every pound goes towards our commitment to change the prospect of start-ups, for good. We want to help you start a sustainable business, one that will stand up to the challenges of starting up.
Our support helps entrepreneurs in 6 ways:
1. Business advice – every eligible applicant will be supported by a Business Advisor to complete a full business plan and financial projections;
2. Funding – we are able to provide an unsecured personal loan of £500-£25,000 per partner in the business;
3. Mentoring – all successful loan applicants will be matched with a local mentor who will be committed to at least 15 hours of one-on-one face-to-face support over a year;
4. Opportunities to gain unique support from the Virgin Group – for successful loan applicants, we will share chances to feature in content, media and campaigns. This can give your business priceless exposure to an international audience;
5. Content and resources – for entrepreneurs across every stage of starting a business, we produce digital content to inspire, motivate and advise;
6. Offers and discounts – access to a range of offers on Virgin products and services, such as a 20% discount on Virgin Trains West Coast.
Here’s why our support will help you and your business get ahead:
We financially support businesses without taking equity
Especially at the early stages, it can be hard to work out how much a business is worth and what you’re willing to give up. Our funding enables entrepreneurs to retain their stake, even if investors are another part of the funding model, or become one at a later date.
Our loans are Government-backed and low-interest
We offer an interest rate of 6.17% APR Representative (fixed rate) and the loan can be paid back within one to five years. There are also no early repayment penalties.
We realise entrepreneurs make mistakes
The trick is to learn from them. Even some of the world’s best entrepreneurs didn’t succeed until their third or fourth idea. With this in mind, although we carry out a credit check for all loan applicants, it will not wholly determine the outcome of your application.
Our mentors believe in you – and us
All our mentors are experienced entrepreneurs that are unpaid-volunteers who are sharing their time and expertise because they genuinely care about supporting a new wave of British businesses.