Last week, Motherwell and Wishaw MP, Marion Fellows, met with Head of Commercial Development in Scotland for the Start Up Loans Company (SULCo), Isobel Brown, to find out how to encourage and support local entrepreneurs.
The Start Up Loans Company offers loans, advice and support to aspiring businessmen and women across the UK.
Since being set up 4 years ago, the company has lent over £250million helping to create over 40,000 businesses. In Motherwell and Wishaw, 40 loans have been made to the value of £154,531.
The MP has said there are also a range of other organisations willing and able to offer their services and support businesses and entrepreneurs.
Local success story, Jo Chidley from Overtown, took part in the scheme and founded the Beauty Kitchen. She now makes and sells “100% effective, natural, everyday luxury beauty products” online and from a store in central Glasgow.
Commenting, Mrs Fellows said:
“When I was first elected as the MP for Motherwell and Wishaw, people wanted me to create jobs and combat poverty. I have formed the Poverty Action Network to link together local bodies whose aim is to curb the effects of poverty. I now want to bring together organisations that can help create jobs so that people can be lifted out of poverty.
“Many people have a great idea for a business but are unable to access traditional sources of finance or do not have the expertise or knowledge on how to achieve their idea. Teaming up with SULCo will provide all of that and put people on a path to success.
“Existing businesses can also benefit from SULCo’s and other organisations’ services to assist them in expanding and growing.
“Hopefully this can assist in getting more businesses into the empty units on our high streets – particularly in Wishaw. Although many businesses start small, they provide income to the area and could potentially grow to employ a team of people.
“My office is currently planning an advice and funding event in the near future to spark the constituency’s entrepreneurial spirit. But if anyone requires any guidance in the meantime, I encourage them to get in touch with my office.”