Something else to “Mone” about at last –


the Start-up Tsar may not have all the answers!

As Baroness Mone of Mayfair is formally introduced to the House of Lords, the Queen of bras former business may need some extra support of its own.

It’s one of those coincidences detractors love; another celebrity business face is elevated to high office and given a government advisory role just as her former company reports a sagging set of results. And although she may wish to distance herself from Ultimo Brands, having waved goodbye in the summer, the figures cover a period when she was still a director and owner of a substantial number of shares.

The memory linger(ie)s

We’ve been here before of course. Mary Queen of Shops was going to sort out our ailing high streets but little has been done on that score apart from a lot of statements stating the obvious and a few hundred quid spent on hanging baskets. As for Karren Brady, small business ambassador, nothing of any substance has been heard from her in support of SMEs since her appointment.

Michelle Mone’s brief is to carry out a review into how best to encourage start-up businesses in areas of high unemployment. And whilst it’s a noble move to try and create some jobs where few exist already, start-up businesses need the same encouragement no matter where they are geographically – namely support and cash.

Their cup runneth over

Luckily the alternative finance industry has always been prepared to provide a mixture of both for anyone setting up a new venture. From initial seed funding to day-to-day cashflow (and taking in management services and support along the way) the appetite to help new businesses get off the ground and prosper is not a new phenomenon.

The invoice finance industry continues to pump large sums of working capital into the sector as well as offering credit management and bad debt protection. For those looking to dip their toe into the temporary recruitment industry help is also at hand in respect of invoicing and payroll services, both time consuming activities for a business with little in the way of administrative staff.

One call can open many doors

In these days of sound bites and Tsars for just about everything it is encouraging to know that real help already exists and expert guidance towards the most appropriate providers could be just a telephone conversation away.

And whilst the real support for start-up businesses is going on the cynics amongst us can ponder on the thought that at least when it comes to those deprived areas of high unemployment we have the Baronesses of Mayfair and Knightsbridge available to share some empathy; both shabby London districts much in need of regeneration!

 

by Steve Leeves