Virgin Start Up is delivered by TEDCO Business Support across the North East of England.
TEDCO specialise in helping people in the North East progress business ideas, through the development of a business plan along with support in accessing business finance, including Start Up Loans, through their partnership with Virgin Start Up.
Ready to apply for a Virgin StartUp Loan?
To get the ball rolling with your application, we need to a few details about you and your proposed business, but before you get started there are a few things to check:
Are you eligible?
- Are you at least 18 years old?
- Have you developed a business idea?
- Will your business be based in the UK?
- Are you a UK resident?
- Has your business been trading for less than 2 years?
- Have you got the following information to hand?
- National insurance number
- Bank details (sort code and account number)
- Address details (if you have lived at your current address for less than 3 years, you will need your previous address too)
Virgin StartUp / TEDCO Success Stories
Cullercoats Bike & Kayak - www.cullercoatsbikekayak.co.uk
14 hours of support and an £18,000 Start Up Loan enabled Simon to turn his passion for cycling and kayaking in to a business renting out cycle and kayak equipment. Read about how he launched, here.
What support do TEDCO provide?
TEDCO offer one-on-one support provided by a dedicated team of business advisors and a range of pre start seminars available to clients who are taking the first steps into self-employment. This could be looking at an initial idea and developing it further, looking at how to start a business plan, business competitors, business marketing. As well as delivering Start Up Loans for Virgin Startup, TEDCO also offer a number of other support programmes, including:
Start & Grow
A new business start-up initiative launched across the country with the aim of supporting budding entrepreneurs with ambitions for sustainable growth and job creation. The Start & Grow programme offers access to support that includes: one to one advice, business skills training, mentoring, access to finance support and business planning, giving the participants the chance to develop their ideas and start their businesses with the best possible chance of success. The programme specifically targets people who haven’t yet launched their business but are looking to achieve high growth and create employment opportunities from an early stage.
New Enterprise Allowance*
*Darlington, South Tyneside and North Tyneside only
If you are over the age of 18, are unemployed and considering self-employment then NEA could be for you. If this is something you are interested in, there are a couple of steps you can take in order to make a start. Your Job Centre will need to check your eligibility for the programme and then refer you to attend a meeting with a business advisor to assess your business idea. If this is proven to be the best route for you, a business mentor will be assigned to help you develop a business plan over an eight week period. If you decide to begin trading after you have completed and had your business plan approved, you will be eligible for a New Enterprise Allowance of: £65 per week for 13 weeks of trading, £33 per week for a further 13 weeks
How can I get in touch with TEDCO?
Telephone: 0191 516 6102