A group of local business people has set up a free business mentoring service, Capability Mentors. The new service helps those who are thinking of employing themselves for the first time or who trying to grow a small existing company in East Yorkshire.
Capability Mentors is based in Beverley and operates on a voluntary basis. Applicants are assigned a business mentor who provides a listening ear , experienced advice and support for the early stages of a business journey. Typically mentoring would last between 12 and 24 months.
The closure of Business Link Yorkshire last year has meant that now there are fewer sources of advice for new entrepreneurs. Last year the Government started a national campaign to encourage experienced business people to voluntarily give their time to mentor others. The intention is to supplement the organisations already working to stimulate new business growth.
Alan Clements of Capability Mentors said ‘We read about this campaign and decided to organise a group of volunteers to play a such a role in stimulating jobs and employment in East Yorkshire. The Hull and East Riding Councils have business advisers who do a good job, but people starting a new business may need months of mentoring support to get them launched and their resources are often too stretched to do this.
We very quickly gathered 11 experienced business people with a wide expertise in different business disciplines such as marketing ,production and retailing , and have put them through government sponsored mentor training. Such mentoring groups are starting up all over the country and Capability is the first to be set up in East Yorkshire.
More people have expressed interest in joining us and we hope to have around 25 mentors available by the end of the year.’
Clients can either apply direct (via the website) or are referred by the several organisations working to encourage business growth and start ups in the region. Mentors use their business experience to help clients review their ideas and future plans. Running your own company can be a lonely and stressful experience. So mentors become trusted advisers who can suggest options, review progress and point those new to business to contacts and other sources of support.
Having someone on your side who has ‘ been there and done it ‘often prevents a new business from making costly or fatal mistakes.
“Small companies have few resources or financial backing, so one mistake can be critical in the early stages. As many as 50% of new companies do not survive to their third year. Research has shown that those new companies that get advice early, greatly increase their chances of survival and growth. That is why we are just as interested to work with people pre-start individuals as with more established companies”, says Alan.
Capability Mentors also offer to help charity groups or other not-for profit social enterprises in the area. Peter Williams, one of the mentors and a lecturer in marketing at Leeds Business School commented , ‘ many such organisations would benefit if business skills such as marketing , planning and design were widely used.’
The Capability Mentors website www.capabilitymentors.co.uk explains the process of matching each client with the right mentor.
‘ There has to be a good level of trust and rapport for this to work, so matching a new client to the right mentor is key to success.’
New clients are also able to attend regular ‘Enterprise Evenings’ where they can meet mentors and discuss ideas in a relaxed and informal setting.
Nick Danby, a management consultant and a Capability Mentor , explains,
“we really want to encourage people who may be thinking about setting up a business for the first time to come and meet us.”
“Lots of people have a good idea for a new business running around in their head but need to talk it through with someone experienced to see if they can make their living from it.”
Others are just not sure where to start or they will have not put everything together. Here they can take the first steps towards exploring if they have a viable idea and what further planning work they need to do.
This is definitely not a Dragons Den!’
