Vince Cable has announced a new 40,000-strong network of business mentors.
From summer 2011, the British Bankers’ Association and UK mentoring providers will team up to provide a single online gateway to mentoring provision.
The Business Secretary wants to see as many business people as possible sign up to mentor new and growing businesses. Cable, who outlined the Government’s plans at the launch of Global Entrepreneurship Week today, says experts will help start-ups, growing companies and businesses seeking financial counselling.
The Business Secretary wants to see as many business people as possible sign up to mentor new and growing businesses. Cable, who outlined the Government’s plans at the launch of Global Entrepreneurship Week today, says experts will help start-ups, growing companies and businesses seeking financial counselling.
Mentoring networks are joining forces to improve access to mentoring and more advisers will be encouraged to commit to the network over the coming months
Mentoring networks are joining forces to improve access to mentoring and more advisers will be encouraged to commit to the network over the coming months.
Vince Cable says: “The best people to advise new entrepreneurs and existing businesses are those who have already started and run successful companies. Mentoring is a very effective way of promoting start-ups, higher productivity and growth amongst established businesses, so I am delighted to announce this new network.
Cable adds: “I also want to encourage more businesses to sign up and offer their support and guidance. We need as many successful mentors as possible to guide the next generation of entrepreneurs and businesses.”
Business and Enterprise Minister Mark Prisk says: “In the current economic climate, it has never been more important to promote an enterprise culture in the UK, and mentors play a crucial role in advising, supporting and encouraging entrepreneurs and small businesses. This new mentoring network will be invaluable for businesses all over the country.”
Julian Ranger, entrepreneur and CEO of iBundle, an innovation hub for tech start-ups, welcomes Global Entrepreneurship Week. “Initiatives like Global Entrepreneurship Week to support entrepreneurial spirit are vital if SMEs are to rebuild the economy,” he says.
“Global Entrepreneurship Week is throwing the spotlight on small businesses with big ideas, which after all provide 60% of the UK's jobs and half of GDP. David Cameron and the Government must do more to support entrepreneurs, but so must the existing business community.
“Government needs to come good on bank lending, reduce further the tax burden on new businesses, incentivise investment and make it easier to bid for public sector work. The business community must help mentor and support new entrepreneurs and pass on business experience, without always looking for an immediate reward.”
