Unfortunatley, Judith could not make the talk, due to illness, so Liz Wallens and her colleague from Wrexham Council came to do the talk alone. Liz is a business adviser at the council, based on the industrial estate. She came to tell us what would be on offer for people setting up a business in the Wrexham area. The first are free business workshops which can be attended by anybody who aims to set up a business in Wales. There are also a number of grants and bursaries available to those who want to set up a business in Wales. The business Wales team are always on hand to give advice too.
Liz then gave us the chance to ask questions on what we wanted to know and tried to help as best she could. The first question asked was 'what is on offer to graduates wanting to go into business?'. Liz went over what she had just said again, this time highlighting that individualised one to one advice is available by appointment. She then explained some of the bursaries on offer, such as the £6000 available to graduates between 6 months and 7 years of graduating. As good as this seems, your forecast must predict an £80,000 turnover in the first year of business. I think that this is way too much money to expect from a new graduate business, especially after the first year. Hopefully this will get lowered, making it more accessible. Liz then explained that they can help to create a business plan and a cash forecast so that a person can put in for a grant or bursary. Some other grants that are available include one from Wrexham County Council and a Bilingual Grant. The Bilingual Grant is available for a business that is willing to have their leaflets and advertisements etc in both Welsh and English. Liz then went into more detail about the workshops, telling us that there are 6 in total, including, marketing. mindset and finance. I am intrigued by these workshops and will look into signing up when in my final year of study. I will write a future post with regards to this after attending.I did not realise how much needed to be done to gain funding to set up my own business. To even be considered for a grant, i would need to apply and provide a business bank account, financial evidence of my own contribution to the business and i would then have to make my purchases and claim them back. If I want to go into business, which is an option I am considering, I think I would have to work for a company while building up the funds for my own business. Another thing I would need to consider is the location of my business. As these are Welsh grants, my business would need to be set up in Wales and I would not be able to relocate for at least 5 years, one of many conditions of the grant.
There are a lot of training oppurtunities and classes available that I didn't know about until this talk. Yale College, the local college in Wrexham, offers night classes. It costs £50 pounds to become a member for 3 years, as long as the person attending is a resident of the college catchment area. This is for as many classes as you want to attend.



