News / Start-ups
Natwest offers free offices to start-ups
A clutch of eighty businesses have been the first to settle in a new accelerator programme for entrepreneurs in Natwest’s Trinity Quay offices, aimed at early stage and growing ventures.
The free-of-charge offer includes physical office space, internet, a start-up bootcamp, mentoring, workshops and training for up to six months. New intakes of so called ‘chiclets’ will start at six month intervals. Companies that show the most promise will be given the possibility of continuing for another 12 months.
It forms part of a UK-wide network across by Entrepreneurial Spark, a social enterprise born in Scotland that is pushing an ‘entrepreneurial enablement’ programme in conjunction with Natwest and KPMG, hoping to support 7,000 start-ups over the next five years. Touted as the world’s largest free business accelerator, hatcheries have so far opened in Glasgow, Edinburgh, Ayrshire, Birmingham, Brighton, and Leeds with Manchester, Belfast, Cardiff, Newcastle, Milton Keynes and London Bishopsgate to follow.
Alison Rose, CEO of Commercial and Private Banking at NatWest, officially opened the Bristol hub. She said: “NatWest has just released new research which shows that 46% of people in the South West would prefer to be self employed but 60% are held back by a fear of failure. While 27% think now is a good time to start a business just 2% are actually taking the plunge.
“The complexities of setting up a new company can be overwhelming – having to understand finance, becoming experts in employment law and trying to be part of a network. For many, running their own business can be a lonely, slow and isolating experience. But it doesn’t need to be like that. The hub provides business owners with the infrastructure, advice and support they need to give them that extra boost during the key early stages of building their business.”
Jim Duffy, CEO of Entrepreneurial Spark, said: “We’re delighted to have launched in Bristol and announced our plans for the next round of UK hatcheries, which includes Cardiff. There is real entrepreneurial talent coming forward across the UK, no more so than in Bristol and the South West where we’ve had a record level of applications to join the hatchery. We look forward to being part of the start-up community, helping entrepreneurs to develop winning mindsets and behaviours in order to scale up their businesses.”
Picture caption: Gill Rattray and David Barr of Entrepreneurial Spark, Simon Face, IOD South West, Alex Joll of Eat Square and Ben Ambrose of Puddle Lane Duck Eggs.
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