Q: What is the Croydon Enterprise programme aiming to achieve?
A: We want to create a thriving local economy in Croydon. We provide a range of services and support to help businesses start and grow. These include business loans, help to combat crime, training … and much more. To see just how much more there is to our programme; see this link: www.croydonenterprise.com
Q: I live in Streatham – can I get support from Croydon Enterprise to start a business?
A: Yes, but only if you can demonstrate that you plan to start up a business in Croydon.
Q: I live in Croydon, but want to start a business in Brixton - am I eligible for free support from Croydon Enterprise?
A: No – the Croydon Enterprise programme is for Croydon people, Croydon businesses and businesses relocating in the borough.
Q: Is support only available to people and businesses in New Addington and Norbury?
A: No. Our services are for all Croydon people, but not unreasonably we do focus a lot of attention on places where we consider there could be more business activity. See our website for more detail on the areas and communities we are focussing on. More information here
Q: I have seen press reports that the Croydon Enterprise is investing £77m over ten years. Is this correct?
A: The original bid for central government funding of £77m over 10 years was successful. However funding was always conditional on the government’s budget process. The latest position is that we have secured funding of £40.3M for the first five years of the programme (2006 – 2011).
Q: Can this money be invested in existing businesses that are struggling to survive in the current economic climate?
A: Croydon Enterprise loans and other services are available to help people start and expand businesses. We do need to ensure that support is given to viable businesses; it is not intended to artificially prop up failing businesses. However, there may be other ways we can help a struggling business from going under. More information here:l
Q: What’s the difference between Croydon Enterprise and Croydon Business Ltd?
A: Croydon Business Ltd is a limited company that is independent of Croydon Council. The Croydon Enterprise programme is delivered by a number of partners although Croydon Business Ltd takes a leading role in delivery and also has a co-ordination role across partners supporting businesses.
Q: How is this money being spent?
A: This investment is being used to provide a range of services, including free business advice and training. We are also building a network of Enterprise Opportunity Centres and have many more enterprising projects running. Full details of the spending is in the programme’s last two annual reports, here
Q: I see you are offering loans to help people start new businesses. Aren’t you just competing with high street banks?
A: No, we offer loans to people who, for all sorts of reasons, may not have been able to obtain a loan from mainstream sources. This might, for example, be down to the fact that they haven’t had a bank account for long enough to get the required number of credit-worthiness points. More information here:
Q: Isn’t offering loans to people who have been refused by High Street banks bad business?
A: Not the way we work, no. We scrutinise each application for a loan. Unlike High Street Banks we can help applicants prepare a good business plan and, if they are successful in obtaining a loan from us, we provide follow-up support to give the new business the best chance of success.
Q: You are helping schools develop enterprise on the curriculum, which is all very well, but are you seriously saying that a school leaver can become an entrepreneur?
A: There are many examples of people who have started successful businesses, or become self employed, immediately after leaving school. We don’t claim that this is an option that is for everyone, but it makes sense to equip students with the right tools to be able to consider entrepreneurial options when they leave school. More information here:
Q: You talk of ‘business mentors’ working for the Croydon Enterprise programme. Who are they?
A: A mentor is an experienced businessperson who helps foster business growth and provide experience and advice. It is not a substitute for professional business support. Mentors are trained and matched to the person being mentored by their skills and businesses. They provide direct, specialised support, face-to-face and over the ‘phone.
Q: Why do you offer security equipment free to businesses?
A: Criminal activity can affect people’s livelihood and the economy of a neighbourhood – this is one reason why we support this work. Useful help and advice is also in the Safer Croydon Partnership’s ‘Community Safety Handbook’, it is also on the Croydon Enterprise web here:
Q: Community and voluntary organisations aren’t ‘real businesses’, so why is the Croydon Enterprise programme supporting them?
A: You may not regard them as ‘real businesses’ but there are many voluntary organisations in Croydon which are run just like a commercial business. We are supporting those organisations to be run even more efficiently and make best use of funding. We also help them launch social enterprises, which provide a valuable service and which re-invest profits in community services. Also, this kind of support can help community groups become self-sufficient and less dependent on grants. More information here:
Q: You are building ‘Enterprise Opportunity Centres’ – what are they?
A: Enterprise Opportunity Centres (EOCs) are business launch pads – a local resource for local entrepreneurs. EOCs will provide affordable trading space, support and much more. The first, using redundant space in Park House, central Croydon, is due to open in October 2008. More information here:
Q: What is a ‘District Centre Manager’?
A: Our District Centre Managers (DCMs) are the Croydon Enterprise programme people on the ground. They are all energetic people, who work with local businesses and other Croydon Enterprise service providers to make ‘their’ districts more attractive places to shop and visit. They also run events, help get environmental improvements done, plus a range of other initiatives to bring in shoppers. We have DCMs covering Thornton Heath and Selhurst; Norbury and Crystal Palace, New Addington and Purley Way, South Norwood, Purley and Coulsdon. More information here:
Q: Your annual report says that the programme spent £11.7M in the last two financial years. What did Croydon get for that?
A: There isn’t space here to list all the programme’s achievements in helping regenerate Croydon’s economy. Full information is set out in our Annual Reports, but here are some outcomes for the last two financial years: 227 new businesses started up, a new, dedicated, beauty and complementary therapy training centre opened in Thornton Heath and 38 new retail outlets opened in district centres. All these examples happened because of our help and support. All our achievements are independently monitored and can be found in our annual report. Achievements like these led to Croydon being voted, ‘Most Enterprising Place in London’ in 2007.
Q: You advertise help to use franchising as a way of starting or growing a business. But doesn’t everyone already know what a franchise is and just shop around for the best opportunity?
A: In our experience although people know what a franchise is, they still want help, advice and support to make an informed choice. Also, few people we have spoken to realise that you can franchise your own successful business model as a way of boosting income. We help people explore these options. More information here:
Q: Why do you need ‘business friendly’ planning advice?
A: Advice on town planning issues, such as the law on changing the use of business premises can be complex and off-putting. Our Business Friendly Planners – we have two – are professionals who know their way round the system. Bigger companies have specialists like these on retainers, but that’s not an option for small businesses, or sole traders? More information here:
Q: You advertise Online Resources for Business (ORB). What is that?
A: It’s pretty much what it says – on-line, i.e. internet, business information on events, market surveys and more. These are up-to-date reference sources full of information that businesses need to target new customers and win new business. Again, this is a service that you normally have to pay for. We provide it free to local people who are members of the Croydon library service. More information here:
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