Highlight and celebrate the work of the Armed Forces community using the digital Armed Forces Week toolkit. The toolkit includes logos and resources, event toolkits, official imagery, and learning resources. If you wish to support the campaign, please use #ArmedForcesDay, #ArmedForcesWeek, and #SaluteOurForces.

Pitch Perfect – Investment Readiness Programme for Growing SMEs Businesses from across the Tees Valley are being supported in raising investment capital to fuel their growth plans as they look to seize the opportunities in a post-pandemic world. Through the Tees Valley Pitch Perfect – Investment Readiness programme, businesses with high-growth potential can secure access to a team of experienced investment professionals with a track record in helping entrepreneurs grow their ventures faster and further than they imagined possible. The programme - delivered by the Tees Valley Business Hub and forms part of the Teesside University Grow Tees Valley project - will deliver one-on-one coaching and workshops in securing investment, culminating in the opportunity to pitch to an audience of investors, who will include angel investors, venture capital figures and corporate investors. Pitch Perfect, which launches in a virtual event on May 27, is the latest innovation to support businesses in the Tees Valley from the Tees Valley Business Hub - powered by the SME Centre for Excellence - since its launch last year. Since that time, the Hub has supported hundreds of businesses across the Tees Valley area with their plans to start, survive and thrive, working alongside them to develop a tailored strategy to overcome the challenges of the pandemic and find the opportunities that lie within such difficult economic times. “Access to finance is a subject we have heard many times as being a priority to businesses in the Tees Valley, whether that’s to get back on track and refocus after the enormous challenges of the past year, or else to capitalise on opportunities which have arisen in the market which they’re keen to take advantage of,” says Ammar Mirza CBE, Chair of the SME Centre for Excellence Group. “We are dedicated to doing all we can to deliver the right support at the right time for Tees Valley businesses, so we are very pleased to be able to deliver this programme which will give bespoke advice to entrepreneurs about how they can raise investment and use it to fuel their growth. “While this continues to be a turbulent time, for ambitious businesses, this is the time to look to the future and how they can make that happen. Our team at the Tees Valley Business Hub can help make that happen and, working alongside Grow Tees Valley and a range of stakeholders on this programme, will do all we can to deliver that.” Jordan Dargue, Chief Executive of Tees Valley Business Hub, says: “This programme is key for any business who is based in the Tees Valley and looking to raise finance in the next 12 to 18 months. “You will receive expert advice and support from a team of investment professionals, along with specialist support and investment advice and introductions at the end of the programme. Our aim for the course of the programme is to help raise a minimum of £2m, create 100 jobs and promote inclusive growth.” Suhail Aslam, Project Director of Grow Tees Valley, adds: “We are delighted to be working with The SME Centre of Excellence and the Tees Valley Business Hub to deliver this exciting programme as part of the wider Teesside University Grow Tees Valley project. “The Pitch Perfect – Investment Readiness programme will offer SMEs the opportunity to learn from experts about how to design, deliver and execute a proficient financial pitch to investment professionals.’’ * The Pitch Perfect – Investment Readiness programme will launch online on May 27 at 9.30am. To learn more about the initiative and attend the event, sign up at www.tvbh.co.uk/pitch-perfect

On Monday 17th May, the Government eased restrictions allowing more businesses to re-open and start serving customers. General rules include: You can now visit indoor venues in a group of up to 6 people or a larger group from 2 households COVID secure rules including social distancing, remain in place within the workplace, businesses and public venues. Indoor areas at hospitality venues can re-open Indoor entertainment venues can re-open To find out how this could impact your business, please click here.

Every business journey has it's challenges. This shouldn’t mean that your first hurdle is the one that prevents you from getting started. Here are six business requirements that your business will need to hit the ground running. Your idea It sounds obvious but this is the hardest step in the journey. To succeed you are going to need a great idea. This doesn’t mean you have to re-invent the wheel but you will need to get creative and innovative. Some of the methods to brainstorm an idea include: · Travelling · Testing new experiences · Reading · Collaborating · Focused thinking Your business plan Once you have your idea, take the time to develop a business plan outlining your goals and the activities that will help you achieve them. You will also want to consider your projected turnover, especially if you are looking for a business loan as you will need the evidence to prove your idea is worth getting behind. Your brand When it comes to your branding you will need to consider a few aspects including; company name, logo and values. Your logo and company name should reflect your purpose and it is worth spending time on as you should avoid changing the brand to ensure your customers begin to recognise and trust your brand. Your brand values will influence stakeholders in your business such as customers, employees and investors. The core values are aligned around a philosophy that is going to guide all your stakeholders. Finance Finance is another common barrier preventing aspiring entrepreneurs from getting started. Some of the likely sources of finance you might consider include: · Personal savings · Crowdfunding · Friends and family · Business loan · Angel investors Website In today’s business world having a website is a requirement. A survey found that 87% of shoppers start their shopping experience online via searches. For your business to be found online you need to have a website in place. The website acts as your shop front where customers can browse, ask questions and purchase the products or services they desire. If you don’t have a website in place, you’re five steps behind the competition and you will lose customers. Find out how you can access all the core support you need to get your business up and running so you can focus on the business.

Mental Health Awareness Week begins next Monday, and takes place from 10–16 May. The team have created new assets and social copy you can use to mark this week. Please find the Mental Health Awareness campaign toolkit here. For posts directing towards the Mind Plan quiz, please use this link: bit.ly/MindPlanN. For posts directing towards the COVID-19 hub, please use this link: bit.ly/EveryMindN2.

View and download the latest EU settlement scheme monthly statistics here. The deadline for applications for the EU Settlement scheme is 30th June 2021. A range of EUSS information is available to support applicants, including translated mainstream guidance and translated EUSS factsheets. If your organisation is helping vulnerable EU citizens complete their EUSS application, the Delegation of the European Union to the United Kingdom can offer further legal advice, free of charge.

Studies completed in 2020 found that 64% of the UK workforce wants to set up a business and 83% of 18-24-year-olds aspire to become self-employed (Credit: SME Loans). From these figures alone, we know how many of us dream of becoming entrepreneurs but for one reason or another, we don’t take the jump. In this guide, we look at the positive reasons for starting a business to provide you with inspiration that could persuade you to dive into the world of self-employment. #1 – Autonomy Without a doubt, autonomy is one of the main reasons people aspire to start their own business. According to self-determination theory (SDT; Ryan and Deci 2000), autonomy was found to be one of the three basic psychological needs for human beings. Becoming self-employed and operating based on your own terms helps to work towards achieving autonomy. This is because you will have the freedom to make your own choices and decisions, allowing you to steer the business in the direction you want to go. The self-determination theory states that when a person is autonomously motivated their performance, wellness and engagement is heightened. Based on these studies, autonomy could help you to perform better in the work that you do and also achieve greater well-being and happiness in life. #2 – Build around you Build your business idea around the things that drive you in life. There are millions of business success stories based on people who have taken their passion and turned it into a business opportunity. Taking this approach has enabled these individuals to believe in their idea and enjoy the work that they do on a daily basis. Having this sense of belief and passion is vital to you and your business because it will help you to push through the inevitable lows of your start-up journey. Building the business around you also means that you are doing some that you are familiar with. This means that you are more likely to have the skillset developed to ensure you succeed in your market. Learning and self-development are a big part of entrepreneurial life so make sure you don’t use this as an excuse to stop learning. Take the time and resources to invest in your development and you’ll see great returns. As Warren Buffet says, “Investing in yourself is the best investment you can make”. #3 - Give back One of the beautiful things about starting a business is that it provides you with an opportunity to give back to the world and this can occur through various mediums. When you start a business, your product or service should be adding value to your customers otherwise you’ll achieve no success. This element of added value associated with the product or service you are offering could change someone’s life so knowing you and the business can play a part in that impact is a wonderful accomplishment. In addition to changing lives through your offering, you could also be changing lives as part of the business's corporate social responsibility (CSR). In the modern world, CSR has become a focal point for business owners. It’s a chance for a business to serve the community and contribute to a cause that the business strongly believes in such as climate change. As a business owner, you not only have the power to give back but also to influence. The actions that you take will influence key stakeholders such as customers and employees which can be used to help change the world for the better and contribute to an impact that is far greater than the business itself. #4 – Financial freedom Financial freedom is certainly one of the top reasons for someone starting a business, after all, the sky is the limit when you are your own boss. If you are in a position to give yourself a pay rise, you have the freedom to do so when you are the one running the business. However, this shouldn’t be taken for granted. The business still needs money to operate and grow so you need to be aware of how much you can afford to pay yourself. Alternatively, injecting profit back into the business helps the business to grow which would yield you greater financial returns further down the line. #5 – Learning The importance of learning and investing in self-development was raised in the point of building the business around you. We’re going to mention it again because it is one of the reasons why you should consider starting a business. Learning and developing is a continuous part of our lives because the world is forever changing. For us to be effective and make a difference in the world, we need to keep ourselves up to date. This couldn’t be more important when you are running your own business. Not all employers provide the opportunity for staff to take on continuous learning which is a huge disadvantage because those individuals will be left behind. Starting a business provides you with the ability and the means to start investing more in your learning so that you can achieve the skillset and understanding that will enable you to make an impact. We are here to support Starting a business is no easy task. 20% of small businesses fail within the first year, however, you shouldn’t let this deter you from pursuing your dreams. It simply means that you should plan and get started correctly to avoid the common pitfalls. The SME Centre of Excellence team is here to support you so that you don’t have to face your business challenges in isolation. Contact our team to find out how we can help you.

A first-of-its-kind partnership has been formed to increase support for entrepreneurs and SMEs in kickstarting the growth of the UK economy post-pandemic. To help boost the bespoke support to the businesses which will be so vital to economic recovery, the Institute of Enterprise and Entrepreneurs (IOEE) - the UK’s leading professional learning institute specialising in business enterprise and business support - has formed an alliance with the SME Centre for Excellence (SME CofE). The SME CofE, based in North East England, becomes the IOEE’s first private sector Centre of Excellence - a status so far only given to leading public sector organisations, including some of the country’s most esteemed universities. Through the partnership, the SME CofE will deliver qualifications and awards offered by the IOEE, and in the longer-term, the two organisations will work together to create a range of new accreditations. The IOEE, which has been a leading name in UK enterprise support for over 20 years, said it has formed its partnership with the SME CofE through a joint commitment and ambition to providing the right support at the right time for businesses and entrepreneurs to start, survive and thrive. It forms the latest stage of progress for the SME CofE, established by business and enterprise leader Ammar Mirza CBE in 2016, which has gone on to support thousands of businesses across its native North East and beyond with practical support, advice and guidance to help them achieve their ambitions and potential. “We were very impressed with what the SME CofE have done in a short period of time, they are a very entrepreneurial organisation working in an innovative way, they’re very leading edge,” says Ruth Lowbridge MBE, chair of SFEDI Group, of which the IOEE is part. “The leadership and management is very entrepreneurial, which is so important when offering such guidance and support to others, and we’re very pleased to have formed this strategic partnership and name them as our first private sector IOEE Centre of Excellence. “We look forward to building this partnership and taking forward new ways of delivering enterprise education and support.” Sarah Trouten, CEO of the IOEE, says: “We are delighted to welcome the SME CofE as our inaugural private sector Centre of Excellence, recognising the drive and dedication the SME CofE commits to raising standards of enterprise education and enterprise support within the North East and further afield. “We look forward to working closely with Ammar and his team to ensure many more small and micro businesses have access to quality support which is absolutely vital for business survival and growth.” Ammar adds: “We are very proud of the timely and tailored support the SME CofE has delivered to so many businesses, helping them to start, survive and thrive in both good and bad economic times. Now, our absolute focus is on helping SMEs and the leaders behind them to emerge from the pandemic in strong shape, equipped for the future and ready to play their role in rebuilding our national economy, focusing on three key enablers – innovation, internationalisation and digital transformation. “Working alongside the IOEE in this national first partnership, we can take that support to the next level. It is a huge privilege to be working alongside an organisation which has done so much for so long in supporting entrepreneurs and promoting enterprise, and which shares our innovative approach and dedication to our goals. “I believe that working together, and in partnership with the many businesses nationally who work alongside us, we can achieve great things and build back better.”

The Government launched a new loan scheme to provide further support to protect businesses and jobs. Businesses - ranging from coffee shops and restaurants to hairdressers and gyms - can now access loans varying in size from £25,000, up to a maximum of £10 million. Loans will include an 80% government guarantee and interest rate cap. Full details are available via the Government website.

The Prime Minister has announced that the 2nd step in the road map out of lockdown is set to go ahead with the Government satisfied by data that justifies the further easing of restrictions. Step 2 in the roadmap will commence on Monday 12th April.

On Monday, the Prime Minister announced that everyone in England, including those without symptoms, will be able to take a free rapid coronavirus test twice a week from 9th April. Businesses can still apply for workplace testing until 12th April.

Cash flow forecasts provide a prediction of a company’s financial position over a set period of time. These forecasts are usually based on expected incomings and outgoings for the business. The cash flow allows a business to be able to settle debts, return money to shareholders, invest and battle against financial struggles. Having a forecast in place would allow you as a business owner to mitigate financial barriers and keep the business in a healthy financial position going forward. In this guide, we are going to consider important factors that you should be including in your forecast. Predicting sales – For start-up businesses this can be difficult as you have no historic data to base your forecast on. If you have been trading for longer than 12 months, you can utilise the data from the previous year to predict the sales expected in the coming year. Purchases – You need to consider the purchases the business will make. If you are holding stock, you should look into how much stock you are holding each month and how much this is going to cost the business. VAT – This should be added to purchases and sales, and will allow for the quarterly tax payment. Excluding this important information could damage your cash flow. Costs associated with employees – There are many costs associated with hiring that will need to be included within your cash flow forecast. This can include; insurance, training, sickness cover, equipment and more. Take the time to consider the costs associated with each of your employees and factor this into your forecast. Marketing – One of the costs associated with generating sales is marketing. In order to generate sales (income), you may consider investing more cash into your marketing (outgoing). If you have a monthly marketing budget in place, calculating your outgoings will be straightforward. Loans – If you have received any loans to support the business, these will need to be paid back. Including repayments within your forecast will prevent any financial surprises and allow you to manage a healthy cash flow. The team at the SME Centre of Excellence is dedicated to supporting small-medium businesses. If you have any concerns or you’re looking to outsource a certain aspect of your business, the team is here. Don’t face your business challenges in isolation, reach out to our team today for more support.