Businesses being urged to support entrepreneur scheme

2:01pm Thursday 7th February 2013 in News By Simon Farr

HWBIDCo Chief Executive Oliver O'Dell HWBIDCo Chief Executive Oliver O'Dell

BUSINESSES are being urged to dip into their pockets to help the entrepreneurs of tomorrow and give a much needed boost to the High Street.

The High Wycombe Business Improvement District Company wants to turn a vacant unit in the town centre into a pop-up business for creative youngsters.

HWBIDCo has pumped £20,000 into the innovative project and a further £16,000 has been pledged by various organisations - but it is still short of the £52,000 target with six months left to raise the money.

Oliver O’Dell, Chief Executive of the BID, is pleading for donations for a project that could not only kick-start the careers of budding businessmen and women, but also give the town centre a new lease of life.

He said: “The Enterprise project is about supporting young entrepreneurs, giving them the opportunity to experience what it’s like running a business in the town and to test what the future of the ‘High Street’ might be like.

“For the town to survive, it must work to grow its own new businesses and to support some of the established local independents to evolve their own business models.

“If we can engage the wider community in this process, in a creative way through crowdfunding, then we have a better chance of success.

“Every small pledge counts towards our project target, with some interesting rewards still to be announced.”

The project will encourage new business types such as fashion designers, smartphone app makers or budding DJs looking to launch a radio station.

The town centre unit would house five groups of young people over three month stints.

The cash would secure the unit lease, pay the overheads, provide funding for training and to help the business idea off the ground.

To find out more or to donate towards the Grow an Entrepreneur for Tomorrow scheme, click here.

Comments (2)

2:56pm Thu 7 Feb 13

Darren Hayday says...

If Wycombe had its own Town Council, then I'm sure that they would be able to fund the rest of the funding? But they don't.
If Wycombe had its own Town Council, then I'm sure that they would be able to fund the rest of the funding? But they don't. Darren Hayday

6:28pm Thu 7 Feb 13

gpn01 says...

The idea of the entrepreneur scheme is laudible and to be encouraged. A little worrying however that they're struggling to bring in the required funding to support the initiative. Could this be that the business case proposal is wide of the mark or is it simply that the appetite for local business support has been misjudged? Not having a robust business case, not securing appropriate funding, etc. sounds rather typical of why some small businesses fail. Not exactly a good model for budding entrepreneurs to follow...although it could serve as a reality check for those looking to set up their own business to properly understand the need for identifying the market, financial planning, etc. etc. and what can happen if it doesn't work out. Either way, I wish the initiative success.
The idea of the entrepreneur scheme is laudible and to be encouraged. A little worrying however that they're struggling to bring in the required funding to support the initiative. Could this be that the business case proposal is wide of the mark or is it simply that the appetite for local business support has been misjudged? Not having a robust business case, not securing appropriate funding, etc. sounds rather typical of why some small businesses fail. Not exactly a good model for budding entrepreneurs to follow...although it could serve as a reality check for those looking to set up their own business to properly understand the need for identifying the market, financial planning, etc. etc. and what can happen if it doesn't work out. Either way, I wish the initiative success. gpn01

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