YOUTH ENTERPRISE & MICROBUSINESS NEWSLETTER EDITION 5 - 2021 Connect With Us
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News & Events
#MicroBizMatters WOULD YOU LIKE TO HELP SHAPE THE FUTURE OF MICRO ENTERPRISE IN HULL AND BEYOND? A Micro Enterprise Charter is being developed by a partnership within Hull. You may have already received an invite to have your say. Due to the positive number of responses we are leaving open the survey for a little longer than planned. Follow this link below to be part of the Micro Enterprise movement.
Humber Business Week is Back! 7th – 11th June 2021 Humber Business Week (Biz Week), which is all about showcasing the wealth of talent, entrepreneurship, vision, and future potential of our region, is back on the 7th June. Across the week there are more than 30 events going on and the week is led by businesses, for businesses. They want everybody who wants to be involved to be so. One such event will feature our own Tracy Sheldon (HEY Growth Hub’s Business Advisor) and Judith Meza (Young Persons Youth Enterprise Champion) discussing Need To Know Essentials for the Pre-Start Up & Micro Business Entrepreneur, alongside Simon Shepherd of Client Marketing. You can find out more about the webinar and register here. Or if you would like to find out about all the other events going on across the week check out Humber Business Week.
John Cracknell Youth Enterprise Bank Appoints Sir Nic Dakin As Honorary Vice President The John Cracknell Youth Enterprise Bank supports young entrepreneurs as well as supporting enterprise education activities in Hull, East Riding and Ryedale. Tony Robinson OBE, Patron of the JCYEB, said "We are delighted that Sir Nic is to become our latest Honorary Vice President, he brings wide ranging experience in education and politics to help us as we look to support more young people realise their business dreams.” Sir Nic Dakin said “I was very pleased to become an Honorary Vice President of the John Cracknell Enterprise Bank. I think it’s brilliant what the JCYEB does and I am looking forward to working with them to support young people in Hull to become young entrepreneurs."
YOUTH ENTERPRISE & MICROBUSINESS NEWSLETTER EDITION 5 - 2021
Judith’s Journey This month I have been focussed on preparing the online community forums hosted by the MC4C team. The purpose of these forums was to provide an opportunity for organisations working within the communities of Hull to be informed about the support MC4C may be able to provide to some of the young people they come into contact with. It was nice to see a number of community groups attended, and we received positive feedback about the session. Looking forward to hosting more sessions in the future which if you’d like to attend you can email me to register. I have also been supporting the team to gather feedback about a Micro Enterprise Charter being developed, as described on the front page. To do this we held small focus groups online to gather direct feedback and in-depth comments. As well as creating a survey online where everyone can have a say. I have been promoting this through all of our social media platforms. I continue to attend various webinars which have proven to be helpful, the latest webinar I attended, I was able to understand the importance of branding. When thinking about my business brand it’s important to think about the future potential growth of the business. I will be able to use all this knowledge in designing my business logo. Having a logo will be the beginning of manifesting my idea into a reality. Furthermore, I’ve started working on the business plan, the first section I’m working on is the cash flow-forecast in order to calculate the costs involved in setting up the business.
Kickstart Success
As part of the government’s Plan for Jobs, a new £2 billion Kickstart Scheme has created hundreds of new, fully subsidised jobs for young people across the country. The 6 month placements are open to those aged 16-24, who are claiming Universal Credit, unemployed, or at risk of long term unemployment. Ellesse Tymon began her support journey with MC4C only recently. Looking for Self-employment support initially to setup as a beautician. As she explored her options, with the help of the MC4C Advisors, she decided to move towards creating personalised gifts while developing her Big 13 Enterprise Skills.
However Ellesse also wanted part time employment to help her financially. Through the Kickstart scheme Ellesse applied for a position in a yoga studio, was accepted and started soon after. This has not changed Ellesse’s dream of becoming her own boss though. She is working towards her goal of self-employment alongside her Kickstart job, and is still receiving informal support for her business idea from MC4C’s Business Advisor. Ellesse is a determined and enthusiastic young lady who has the confidence to go far.
YOUTH ENTERPRISE & MICROBUSINESS NEWSLETTER EDITION 5 - 2021
MC4C In The Spotlight…
Apricity Jewellery - Fran Swann
Finding employment during the pandemic proved to be a challenge, this gave many people the opportunity to explore self-employment. One such person was Fran Swann of Apricity Jewellery. Fran used the time she had to start making her own jewellery, which has gone from a hobby to a growing business, with the help she received from the MC4C programme and the John Cracknell Youth Enterprise Bank. This is what Francine had to say about being a young entrepreneur ”I love working for myself, everything is on my own terms. Just seeing people in my jewellery, it makes it all worth it. Whenever I see people post pictures online wearing my jewellery, it makes me proud to be my own boss.” You can find Fran on Instagram @apricityjewellery, or visit her website http://www.apricityjewellery.com . You can also check out an interview with Fran here.
Micro Business Support
Geribodo4Design - Claire Garbutt I’m Claire, founder of Geribodo4Design, inspiring others to unleash their inner creative vibe! ‘Geribodo’ meaning – ‘Bold and Brave’ brings you a full mix marketing & design specialist in the East Riding of Yorkshire, providing; marketing, design and brand development, digital solutions, event, exhibition and conference management. During a turbulent year in 2021 I took a leap of faith from the corporate world I have known for 20 years to become selfemployed. I took with me the knowledge, experience, contacts, and friends, I had gained over the years and utilised this to my advantage.
The support I received from SUSS Micro Business programme has been amazing. Without the encouragement and guidance of my lovely business advisor, I would not have found this journey so easy. I recommend anybody starting off on their own to access the support available. We can be wise but to be successful you need to be open to new ways of learning. The road is still a little uncertain but I can assure you that when you win your first contracts, the immense feeling of achievement is phenomenal. Please feel free to check out my website www.geribodo4design.co.uk or contact me at claire@geribodo4design.co.uk for a free consultation on how I can help you plan today for a brighter future.
YOUTH ENTERPRISE & MICROBUSINESS NEWSLETTER EDITION 5 - 2021
Don’t Worry – It’s Business
There are two key things that worry young people when they’re considering setting up a business.
Firstly, they’re concerned that as soon as they register as a business, they’ll be presumed to be earning and their state benefits will disappear. Moreover, they have heard that the tax system is different for the self-employed and that, as well as losing their benefits, they’ll need to pay lots of tax. Neither of these are true. If a sole-trader begins to generate a significant income, then they will see a reduction of their benefits, whether that’s Jobseekers Allowance, or Universal Credit, but they will have their income. Which is likely to give them more than their benefits. The hope should be that eventually their business will generate the income they need not only to pay day to day bills, but to give them a good lifestyle. Typically someone on Universal Credit who has told their Work Coach that they’re self-employed, can earn around £300 a month before benefits are affected and after that around 60p in every £1 is deducted from DWP payments. It gives people the incentive to make their business grow. And universal benefits, such as Child Allowance, will be unaffected. At MC4C when helping a young person devise a cashflow forecast for a business plan, we stay within realistic expectations. We’ll try to ensure that a business has the potential to deliver at the very least, more than the individual’s income from benefits. And tax for the self-employed, isn’t taxing. If anything, a sole-trader will pay less tax than an employee, as they’ll be able to charge allowable expenses against their tax bill. There is a different way of paying tax – once a year, instead of monthly on PAYE, but the threshold at which an individual pays any income tax is the same – currently £12570. So if someone earns less than the threshold, they pay no tax. Of course, running your own business isn’t easy and there’ll be problems for any business along the way, but we help to smooth out those problems; but these are just two fears we hope we can lay to rest in our Business Skills and individual 121 sessions at MC4C.