Vince Cable
announced a new 40,000-strong network of business mentors at the
launch of Global Entrepreneurship Week today, and called on more
businesses to join up.
Vince Cable wants to see as many business people as possible sign
up to mentor new and growing businesses. To make it easier for
people to get the mentoring help they need, the Business Secretary
outlined the Government’s plans for a new single network of
mentoring providers. This network of experts will help start-ups,
growing companies and businesses seeking financial mentoring.
For the first time, business mentoring networks are joining
forces to improve access to mentoring provision for both mentors
and those looking for mentoring support. More mentors will be
encouraged to commit to the network over the coming months.
Business Secretary Vince Cable said:
“The best people to advise new entrepreneurs and existing
businesses are those who have already started and run successful
companies. Mentoring is a very effective way of promoting
start-ups, higher productivity and growth amongst established
businesses, so I am delighted to announce this new network.
“I also want to encourage more businesses to sign up and offer
their support and guidance. We need as many successful mentors as
possible to guide the next generation of entrepreneurs and businesses.”
Business and Enterprise Minister Mark Prisk said:
“In the current economic climate, it has never been more
important to promote an enterprise culture in the UK, and mentors
play a crucial role in advising, supporting and encouraging
entrepreneurs and small businesses. This new mentoring network
will be invaluable for businesses all over the country.”
From summer 2011, with the support of the British Bankers’
Association and UK mentoring providers, there will be a single
online gateway to mentoring provision for mentors and for those
seeking mentoring.
Notes to editors
1. The mentoring network has been developed in response to the
needs of entrepreneurs and small business across the country. The
Annual Small Business Survey 2007/08 found that businesses which
used external advice in the last 12 months were twice as likely to
have grown their workforce and over 50 per cent more likely to be
aiming to grow their business in the next two to three years than
those that had not used advice.
2. Already, over 40,000 mentors of all ages, skills and location
will be available for guidance. Organisations such as Horsesmouth
and Ecademy have pledged mentors to the network, and for the first
time mentors and mentees will have the confidence that every
organisation in the mentoring network is signed-up to a shared
code of conduct
3. Vince Cable and Mark Prisk outlined details of the new
mentoring network at the launch of Global Entrepreneurship Week at
Google Headquarters in London.
4. Global Entrepreneurship Week is a joint initiative developed
and led through a partnership between the Department for Business,
Innovation and Skills (supported by Enterprise UK) and the
Kaufmann Foundation in the US.
5. GEW is a key focal moment in the drive to build a strong
enterprise culture, with competitive open markets and the pursuit
of global trade and investment. Events held as part of GEW aim to
inspire, inform and support both budding and relatively new entrepreneurs.
6. BIS' online newsroom contains the latest press
notices, speeches, as well as video and images for download. It
also features an up to date list of BIS press office contacts. See
http://www.bis.gov.uk/newsroom
for more information.
Contacts:
BIS Press Office
NDS.BIS@coi.gsi.gov.uk
James Platt
Phone: 020 7215 5978
james.platt@bis.gsi.gov.uk