SENTA reports new year start ups boost
Yorkshire's largest enterprise agency is reporting a plethora of new business start ups as the region's entrepreneurs remain resilient in spite of the current economic climate.
According to Sheffield Enterprise Agency (SENTA), start-up numbers in Sheffield remain strong in the first quarter of 2009, with 55 new businesses already reported since the turn of the year.
Appointment books with SENTA business advisors are also filling up quickly as redundees look to turn bad news into business opportunities.
In particular, SENTA is focussed on generating new business activity in traditionally deprived areas of Sheffield through the BiG - Make It Your Business programme. The agency has helped almost 300 new businesses start since the initiative was launched last year.
SENTA director Mandip Dosanjh said: "The impact of a recession on entrepreneurs and start-ups is two-fold. On the one hand, accessing finance can be more difficult, making necessary investments in young businesses harder.
"But on the other hand, the negative economic situation can actually create new opportunities. We have many budding entrepreneurs coming to us who are managing to turn voluntary redundancies into successful businesses in just a few months.
"The majority of new business start-ups reported in Sheffield are actually in deprived areas of the city, which is important if the city is to be well placed to compete on a national level when the upturn arrives."
SENTA also offers free practical advice to new business start ups and more established businesses, including help with business plans, cash flow management, marketing and legal advice.
"With the right help and advice, the impact of business start-ups on local economies can be profound and should not be underestimated, not just because they serve local needs and the requirements of larger businesses, but because these are the city's potential success stories for the future," said Mandip.
