London Luton Airport continue to support new local business start-ups
London Luton Airport have announced that they will continue to fund their new business grant project in 2015/16 enabling Wenta to offer further business support and grants to local entrepreneurs.
For many, starting a business can be daunting and, raising the finance needed, can often cause an enormous stumbling block. However, in Luton, Wenta have been working on behalf of London Luton Airport to help remove some of these obstacles and provide local residents with the support needed to start up their new venture.
Nearly 2 years ago London Luton Airport asked Wenta to run the London Luton Airport Ltd (LLAL) Enterprise Fund which would provide Luton residents with free business advice and support as well as access to a grant of up to £1000 in order to start up a new business.
Wenta provides one-to-one advice, workshop support as well as help with writing and submitting a viable business plan to apply for the grant. The business plan is a crucial document that needs to show that the business can generate sufficient return to support the applicant.
Councillor Mohammed Ashraf, Chair of London Luton Airport Limited, commented:
“We are really pleased that we are able to continue to support local Luton residents who have dreams of starting up their own businesses, but are held back by a lack of support, advice or financial help. Often the smallest of amounts can make a real difference. Wenta have done a great job managing our fund and we are glad we will be able to continue to work with them in the future.”
Since the LLAL scheme commencement in May 2013, over 150 grants have been agreed. Grants have been given to both men and women across the many different ethnic communities in the Luton area. Most applicants are unemployed or have difficult personal circumstances to overcome.
The provision of the grant has changed Luton peoples' lives: A client with 20 years’ hairdressing experience lost his salon due to a steep rise in his business rent.
Unable to get a loan due to adverse credit history, the LLAL grant enabled him to start up again by’ renting a chair’ at a local salon. The money covered his first month’s rental and equipment and with existing customers and low overheads the business is now sustainable. An unemployed client accessed the LLAL grant for her up-cycling business; making handbags and accessories out of recycled/used materials. Her business has strong green credentials and she has now developed a good client base of ethically minded people. An ex-offender who had gained qualifications in building, painting and decorating whilst in prison was, as a result of the grant, able to buy the tools and equipment he needed to set up his own business.
With the continued support from London Luton Airport, Wenta are able to help people to start-up new businesses in Luton which in turn makes a real impact on the local economy and peoples’ lives.
For more information on the London Luton Airport Grant email [email protected].