Merchants help the next generation of budding entrepreneurs turn their business ideas into reality
Starting up in business is tough for anyone – but for young people facing disadvantages, it can be a real uphill struggle.
Getting the funding to turn their dream into
reality can be almost impossible if they are unemployed. And when it comes to the money for training courses or buying equipment, it’s a similar problem.
To help young people in Bristol overcome these issues, the Society of Merchant Venturers has teamed up with The Prince’s Trust. Five members of the historic Merchant Venturers, which is made up of prominent Bristol businessmen and women, are now mentoring and advising a group of youngsters in the city to help get their business concepts off the ground.
The Merchant Venturers, who have decades of
top-level business experience between them, are offering priceless hands-on advice, support and guidance to five young people under the two-year scheme.
Run as part of The Prince’s Trust’s Business
Programme which helps young people aged 18 to 30 who are unemployed or financially disadvantaged start their own business, the mentoring scheme has already achieved some notable successes despite only starting last year.
The Society of Merchant Venturers has a strong track record in education and youth support in Bristol – its records show that it was running a school for the children of mariners as early as 1595. Today it sponsors and supports the Merchants’ Academy in Withywood and Colston’s Girls’ School on Gloucester Road and Colston’s School in Stapleton.
So rolling up their sleeves and advising these youngsters by passing on expertise and knowledge is a logical step.
Merchant mentor Charles Densham, retired partner at Knight Frank LLP, said: “Helping young people is an integral part of our role.
“Education is essential for young people. But it is important to remember education comes in many forms and can be implemented at different stages in life. Some people feel that school is not the right route for them and would prefer to apply for a training scheme or work placement.
“We have a responsibility to make sure that in choosing an alternative path, these young people are given the support and encouragement they need. Taking part in The Prince’s Trust mentoring programme is our way of meeting that need.”
The Prince’s Trust business programme, which this year celebrates its 26th anniversary, has helped 276 young people across the South West set up their own business in the past 12 months.
"We are delighted that the Merchants have chosen to take part in the scheme. They have shown real dedication by attending the induction and training course" said Sue Porto, Regional Director at The Princes Trust South West.
The Prince’s Trust is the chosen beneficiary for this year’s Bristol Evening Post Business Awards which take place on 17 June at the Bristol City Centre Marriott Hotel Bristol.
Icon Beauty
28 year old Lucy Bamber, an aspiring beautician, approached the Prince’s Trust in June last year.
Having previously worked in beauty salons and attending a beauty course at college, she was inspired to set up her own business but needed further guidance and advice.
Lucy’s sister advised her to contact the Prince’s Trust after hearing that it supplied expert business mentors who provide advice, support and financial help.
Andrew Nisbet, founder and director at Nisbet & Co. Ltd attended one of the business programmes training days and spotted Lucy at the event.
“Lucy was positive, determined and knew what she wanted. She had a strong business proposal that I knew would work,” Andrew said.
Lucy added,
“Andrew has helped me with every aspect of setting up and running my business. He provided me with a lawyer when I had problems with a past employer, put me in contact with IT specialists who helped me to set up a client database system and has made me feel like I can approach him at any time which has been so helpful.”
Lucy set up Icon Beauty six months ago on Gloucester Road in Bishopston. The business now has 3 employees and over 700 clients and the salon is continuing to do well.
Andrew and Lucy continue to meet each month to discuss how to grow and expand the business further.
“It has been an absolute pleasure working with Lucy and I have enjoyed assisting her in making her dream a reality,” said Andrew.
Show Shine
Twenty year old Damian Pinfield from Weston Super Mare always dreamt of setting up his own mobile car valeting business but lacked the knowledge and finances to allow his concept to take off.
That changed last summer when he contacted the Prince’s Trust.
“I found school quite difficult and restricting and always wanted to do my own thing. I was unemployed when I contacted the Trust and thought ‘it’s now or never!’”
After an induction and a four day business training course, Damian met his mentor Charles Densham, a retired partner at Knight Frank LLP.Charles said,
“I have always been fascinated by the work that the Prince’s Trust does in Bristol so I was delighted to participate. Starting a business can be challenging enough, but when you have nothing but an idea you need guidance to make the idea work. When I met Damian I was bowled over by his enthusiasm and really wanted to help.”
Charles helped Damian pitch his business concept to the panel at the Trust and was awarded a grant to help start up Show Shine.
“Charles has helped me with writing formal letters, conducting market research, promoting my business and has helped me create contacts,” said Damian.
“I now think realistically about business and feel like I have progressed so much in the last six months.”
Damian has recently landed a contract with a l
local garage and regularly attends tailored business courses funded by the Trust.
Fresh Cleaning Online
Michael Thomas, 20, approached the Prince’s
Trust last August following a disappointing apprenticeship with a mechanical engineering company.
A lot of his friends had set up successful cleaning businesses and recommended the Trust to him for help starting up a similar business.
Michael had an initial interview and attended the four day business course before meeting Merchant Venturer Andrew Garrad, founder and director at Garrad Hassan, the world’s leading renewable energy consultancy.
Michael said:
“Andrew has helped get my cleaning business up and running. He helped me to realise that window cleaning is a competitive market and I had to offer my customers something different which is why I offer a service which is suitable to both commercial and domestic customers.”
Andrew and Michael meet up regularly to discuss how to take Fresh Cleaning forward.
“Andrew is very busy so it is amazing that he makes time for me. I wouldn’t be where I am now if it wasn’t for him,” Michael said.
Background to the Merchant Venturers
The Society of Merchant Venturers is an entrepreneurial and charitable organisation based in Clifton, Bristol.
It is made up of 77 prominent and talented men and women who contribute to the prosperity and well-being of the greater Bristol area and to help enhance the quality of life for all.
The Merchant Venturers work closely with the wider community and many of its members play prominent roles in Bristol’s commercial life and major institutions within the city.
Its key objectives are to:
• Contribute to the prosperity and well-being of the greater Bristol area through active support of enterprise and commercial and community activity
• Enhance the quality of life for all, particularly for the young, aged and disadvantaged
• Promote learning and the acquisition of skills by supporting education and encouraging entrepreneurs
• Act as effective stewards of the charitable trusts, heritage, ancient buildings and open spaces for which the society is responsible
History
Although there is no clear documentary evidence, the Society is believed to have evolved from a Guild of Merchants which existed in the 13th century.
The Merchants have played a huge part in the development of Bristol including the management of Bristol’s harbour and docks, funded the building of Clifton Suspension Bridge, helped to create the Great Western Railway and worked with the Bristol Corporation to put Clifton Down and Durdham Down under the control of a single Downs Committee.
The Merchants also funded John Cabot’s voyage of discovery to Newfoundland in 1497 and Captain James’ voyage in 1631 in search of the North West Passage.
More recently the Merchants have been involved in supporting Colston’s School, Colston’s Girl’s School and The Merchants’ Academy, funding the development of care homes for the elderly including Katherine House and donating grants to charitable causes such as the St Monica Trust and the Cote Charity.
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