It wrks for Gary

Mar 19 2008 by Sue Scott, Evening Gazette

BLACKHALL COLLIERY man Gary Coulthard is one of nearly 600 regional entrepreneurs who have realised their dreams of starting their own business, thanks to Government-backed business support agency Entrust.

A survey has confirmed that a funding and assistance programme managed in the North-east by leading agency Entrust has had a dramatic impact in encouraging new start-ups in some of the region’s most deprived areas.

Since 2001, just over 900 people in the region have gone through the New Entrepreneurial Scholarship (NES) Programme, with 572 starting their own business (62%).

Mr Coulthard is a classic NES success story.

After 30 years in the engineering sector Gary took voluntary redundancy and joined the NES programme at the Chester-le-Street and City of Durham Enterprise Agency in July. The knowledge he gained has helped him realise his dream with the launch of his photography and IT business, Imagewrks.

He said: “The NES programme has brought all the skills I needed together into one package. I always enjoyed photography and wanted to set up my own company but knew nothing about marketing or VAT. Thanks to the course I now have a successful business.”

Across the UK as a whole, NES has assisted 5,500 people living in the 25% most deprived areas in England to overcome the obstacles to starting their own business by providing a comprehensive package of funding, training, support and mentoring.

Funded by the Learning and Skills Council, the programme is based on the specific needs of scholars, works closely with universities and draws on the specialist skills of business support organisations.

The £6m programme has six years experience in assisting people from the most deprived areas of the UK to set up successful and sustainable businesses and the results of the evaluation highlight how much of a positive impact the programme has had.

Jonathan Dowden, recently appointed NES programme manager at Entrust, said: “We have seen great evidence from within the region that the NES programme has helped stimulate a new generation of men and women to start their own businesses.

“The range of firms they set up is very diverse but what they all share is the commitment and drive to do things for themselves. The NES programme gives them that added confidence to get up and do it.”

Research shows that nationally NES has a fundamental part to play in the success of new business start-ups and reducing economic inactivity and unemployment, with 75% of NES scholars going on to start their own business within three months of completing the programme.

These businesses have an extremely high start-up and survival rate with 94% still in business after a year, 86% after three years and 76% after five years. Of those that never start a business, or one that does not continue, around half (47%) return to employment.

The programme has great success in reaching the most disadvantaged groups with 59% classed as unemployed or economically inactive at the start of the course. Other profiles include those with a disability (10%) as well as those who are functioning as lone parents (16%).

At a time when policy makers are encouraging the support of women in enterprise, NES can claim that 46% of its scholars are female – and with 30% of those on the programme describing themselves as non-white, NES can demonstrate that it reaches out and engages with a range of ethnic groups.