Project Reference No:

M 2 / 07

 Project Name:

Hillfields Business Development Project

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ERDF URBAN PROJECT Return to Homepage

Applicant Organisation Coventry & Warwickshire Chamber of Commerce Training & Enterprise

Oak Tree Court

Binley Business Park

Harry Weston Road

Coventry

West Midlands

CV3 2UN
Contact Details Ajay Desai

Telephone: (024) 7665 4115 Fax: (024) 7645 0242
E mail address N/A
Description and Objectives
The project will provide a flexible range of support to those wishing to set up new businesses in the Hillfields area. The scheme will provide a comprehensive package of business training, development and support to enable low paid, unemployed, unwaged or those facing redundancy to set up their own business. Applicants must be residents of Hillfields and / or those wishing to set up a business in Hillfields. The package support will be uniquely tailored to meet the individual needs of the client. This will include an assessment of the client’s needs and explanation of the initiative; pre-start training and business counselling; assistance of a Business Advisor to develop a comprehensive business plan; seed-corn funding and / or business rehearsal support; continuous monitoring and support once the business has been launched.

The Chamber, who will appoint a Full Time Business Counsellor and Part Time Administrator, will manage this project. The counsellor roles will be:

  • Maintaining links already established in the Hillfields area, to gain the confidence of the community in the services provided;
  • One to one counselling of individuals wishing to explore their potential ideas leading to the identification of actions needed to be taken to progress their ideas;
  • To agree a mutual Action Plan, ensuring that both parties are aware of their roles and responsibilities;
  • To provide links to other services available to the beneficiary (i.e. training, basic skills, other business support). The counsellor will introduce these to clients as appropriate and where possible additional support will be provided locally by organisations sensitive to the needs of the target group.
  • To encourage individuals to have confidence in their ideas, whilst highlighting the potential risks associated with running a business.

Post start up mentoring, counselling and appropriate business skills development will be provided and clients will be encouraged to be pro-active in approaching the counsellor as required.

In summary, clients will be offered a tailor needs package to support their personal development including those arising from disability or language barriers, and the process of preparing a business plan to cover all aspects including legal and regulatory requirements, marketing and raising finances.

The project directly supports Measure 2 objectives (‘Infrastructure and Enterprise Development’) of the Hillfields Urban Action Plan 1997 – 1999, through improving business confidence in the area. This project reflects directly Action E of this Measure ‘Grants, marketing and business advice to encourage people to become self employed and start businesses’. Furthermore it will provide 34 Jobs created as opposed to the 30 laid down in this Action and 20 business start ups in line with the indicative outputs of this measure. In addition the project will directly support Priority 2 Measure 2.2 of the Objective 2 SPD by reflecting its rationale. It will undertake actions appropriate to the measure, namely

  1. Support for SME creation, development, growth diversification (including community enterprise)
  1. Support to SMEs with growth potential including community enterprise
  2. Support for SMEs to develop their work with OEMs
  1. SMEs to develop and create markets for their goods and services outwith the region

The project will support all these actions linking access to finance with much needed advice/mentoring. It is recognised that these areas of non-monetary support can be as influential in terms of company’s survival and growth as the provision of finance.

Project Outputs
Programme Outputs Forecast Outputs
Number of direct permanent jobs created 34
Number of SMEs assisted 20
SMEs Advised 20
Business Improved 20

TOTAL PROJECT ELIGIBLE EXPENDITURE by Calendar year

Main source of funding followed by other sources

 Type of expenditure

1999

£

2000

£

2001

£

Total

£

ERDF

Capital

 5,000 25,000 33,000 63,000
SRB 

Revenue

 26,000 47,000 7,000 80,000
CWCCTE Revenue 1,000 2,000 1,500 4,500
Cov City Council Revenue 1,250 5,000 1,250 7,500

Total

Capital

 5,000 25,000 33,000 63,000
Total

Revenue

 28,250 54,000 9,750 92,000

Grand Total

   33,250 79,000 42,750 155,000

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