We're delighted to announce that we've hit a major milestone - delivering over £20,000,000 worth of Start Up Loans to 2,000 entrepreneurs across the UK.
The last 18 months has seen us grow rapidly, expanding our operations into Scotland, Northern Ireland and Wales - and the milestone has also come just as we've completed our fourth year as a major delivery partner for the government’s Start Up Loans scheme.
The 2,000th business to benefit from our services is The Dukes gastro pub in Bedfordshire, opened by sister team Jo Carter and Sarah Smith. Formally an Indian restaurant and takeaway, Jo and Sarah restored the 260-year-old thatched building back to a village public house after it lay empty for two years following the closure of Shaanti Restaurant in 2014.
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Jo Carter believes her background in business combined with her sister Sarah’s experience in the hospitality industry make them the perfect team. Jo is also owner and founder of successful Newcastle-based digital recruitment business Concept Personnel and Sarah has 12 years’ experience in hospitality, having previously worked at Michelin Star restaurant The Stonor Arms for 1.5 years.
Through their loans from Transmit Startups, Jo and Sarah plan to fund further renovations to the pub to support growth projections.
Commenting on being the 2,000-milestone recipient, Jo Carter, said: “Our journey to owning The Dukes pub started 10 years ago, when we popped in for a drink to celebrate Sarah’s children’s joint Christening. Little did we know then that we would end up owning the place!
“Sarah lives locally and spotted the pub was up for sale back in 2015. A full-time mum at the time, seeing the place empty sparked memories of how much she loved working in hospitality. We talked about the prospect of taking it on over Christmas and the more we spoke about it the more it became clear that The Dukes had potential to be a very successful business.
“It took a lot of vision and even more hard work, but to restore this pub to its former glory as the heart of the village has been so rewarding. Everyone in the local area has been really supportive and the business has gone from strength to strength.
“We’re delighted to be the 2000th loan recipients and can’t wait to take The Dukes to the next level as a business.”
A quick fact: 42 per cent of Transmit Startups loan recipients have started their own businesses from full-time employment, while 13 per cent are starting their own business after being unemployed for a period of time.
Jo Carter (Co-Founder, The Dukes), Richard Myers (Commercial Director, Transmit StartUps) and Sarah Smith (Co-Founder, The Dukes).
Richard Myers, commercial director of Transmit Startups said: “The Dukes and Jo and Sarah are the perfect example of the kind of entrepreneurs and business ideas we support. You don’t need to be an inventor or the next tech guru to call yourself an entrepreneur. We help those looking to start businesses across all industries. From app ideas to a local coffee shop, it’s about supporting entrepreneurs to get their ideas off the ground – not just through finance, but through support and mentoring to help entrepreneurs form a clear business plan that provides the foundations needed to give them the best chance of success.
“To have helped more than 2,000 entrepreneurs start their own businesses under the Start Up Loans programme is an amazing achievement. Since we expanded our Gateshead-based team and opened our new offices in Scotland we’ve been receiving more applications than ever. In July alone we approved over 100 loans – our highest to-date. Over the next 12-months we’re on-track to help more people than ever become their own boss.”
Joanna Hill, acting CEO at Start Up Loans Company, said: “Transmit Startups reaching such a significant milestone reflects the success of the Start Up Loans programme. Together with the help of all our fantastic delivery partners, we’ve now delivered over £330 million worth of loans to over 49,000 entrepreneurs across the UK.
“Not only are microbusinesses like The Dukes the backbone of the UK’s economy, but they are also hugely important to our local communities. That’s why it’s important that we continue to give start up business owners the support they need to succeed.”
If you’re interested in starting your own businesses visit www.transmitstartups.co.uk for more information.