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NORTH NORFOLK PATHFINDER BUSINESS ADVICE PROJECT Presentation to Pathfinder Conference

NORTH NORFOLK PATHFINDER BUSINESS ADVICE PROJECT Presentation to Pathfinder Conference 22 March 2011 Ian Groves. THE PATHFINDER AREA. BUSINESS ADVICE PROJECT. Available to all businesses in coastal communities, Stalham and Happing Partnership area Up to £1,550 of free business advice

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NORTH NORFOLK PATHFINDER BUSINESS ADVICE PROJECT Presentation to Pathfinder Conference

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  1. NORTH NORFOLK PATHFINDER BUSINESS ADVICE PROJECT Presentation to Pathfinder Conference 22 March 2011 Ian Groves

  2. THE PATHFINDER AREA

  3. BUSINESS ADVICE PROJECT • Available to all businesses in coastal communities, Stalham and Happing Partnership area • Up to £1,550 of free business advice • Consultation with Business Link East • £450 voucher to offset against specialist advice • Business planning • Follow-on projects

  4. BUSINESSES SIGNED UP • 185 meetings attended between June and December 2010 • 99 businesses signed up in total • 75% from coastal area • All communities between Sheringham and Waxham and inland

  5. RESULTS SO FAR • Specialist advice being provided in a variety of areas • Marketing and planning most popular • Many have requested business planning • Bigger issues also raised • Very positive feedback...

  6. ISSUES OUTSIDE PATHFINDER • Sea defences • Coast road • Community projects • Bus services • Signage • Local area marketing

  7. LESSONS LEARNED • High levels of entrepreneurship and cooperation • Many businesses can be assisted with issues • Flexibility in response A welcome boost to local businesses...

  8. Business Planning, Strategy and Advice Andrew Wilson

  9. NWES • BIS registered Enterprise Agency • N Norfolk for 10 years • 9 delivery staff • Support track record • 9500 support sessions

  10. NWES Delivery • Build on partners work • Business planning • Strategy based • Risk identification • Market & PR positioning • Financial projections • Client driven

  11. Project Changes • Strategy / Advice • Relationship duration • Extension • NWES produced

  12. Client Barriers • Access to Finance • Client perception? • Business viability concerns • Security • Solutions • Business Plan • Enterprise Finance Guarantee Scheme (EFG) • Joint meetings with banks • CDFI fund

  13. Client Barriers • Planning permission • Perception? • Solutions • Named planning contact • Business Plan

  14. Client Barriers • Rollback land costs • No saleable asset for contribution • Infrastructure • Solutions • Business Plan • CDFI Loan • Grants

  15. Client Barriers • Unviable businesses • Not erosion linked • Client unaware • Solutions • Strategy discussions • Client decision • Business Plan

  16. Client barriers • Business acumen • No monitoring • No planning • Solutions • Establish systems • Professionals engaged by vouchers • Ongoing support

  17. What next? • 33 referrals so far • 30 still active • More NWES driven • Project Toolkit

  18. Summary • Business Planning, Strategy and Advice • Intensive relationship • Evidence of success • Work in progress

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