Entrant with the best idea will receive investment, business advice and mentoring, marketing, communications and legal support
Orange has launched its Different Business competition, offering one winner with the best business idea with £200,000 worth of investment.
The winner will also receive business advice and mentoring from accountancy firm Kingston Smith, communications support from Orange, marketing consultancy from Publicis Chemistry and legal advice from corporate and commercial law solicitors Lewis Silkin.
Interested parties have until April 30, 2012 to visit the Different Business website – www.winyourbusiness.com – and submit a business plan.
The initiative comes after chancellor George Osborne’s plans to make £20 billion loans available to support UK entrepreneurs in last Wednesday’s budget.
Orange and OnePoll surveyed 2,000 UK adults in full time employment between March 8-9, 2012.It found over 37 per cent had come up with a business idea or invention they believed could be a success.
However 70 per cent of those with an idea have not acted on it, with 28 per cent not knowing how to start it, indicating a lack of guidance and support as barriers.
Concerns over not having enough money (21 per cent) and the thought of an idea failing (14 per cent) were cited as key reasons why new business ideas often don’t begin. Over two fifths (44 per cent) said a recession makes launching a business riskier, and that they would prefer to work from someone else during this period.
Everything Everywhere head of small business propositions Mike Shirley said: “Our competition is a chance for us to find an innovative and fresh thinker, and give them a network of industry experts to help them flourish.
“Orange Business aims to help small enterprises everyday by providing them with the devices and services they need to turn their business ideas into a reality. With such support, business should feel empowered to think differently and be fearless when pursuing their creative concepts.”
Mike Southon, author of The Beermat Entrepreneur, said: “The entrepreneur is the backbone of the UK economy. We are a nation of small businesses, so it is surprising that many people are too nervous to throw their hat into the ring and start their own company.
“For that reason, initiatives such as this business competition from Orange are great as they help some of the brightest talent in the country to get a step up on the business ladder, and achieve the full potential of what they – and their businesses – are capable of.”