Institute For Applied Entrepreneurship Newsletter Issue 6

Business Plus June 2009, Edition Six

New Business Centre Opens its Doors in Warwickshire Coleshill Business Centre opened its doors in mid-May thanks to funding from Advantage West Midlands and support from Coleshill Town Council. The new Business Centre, located on the first floor of Coleshill Town Hall has been launched to provide office and meeting facilities, training and support to people starting their own business in the local area. Programmes Manager Kathryn Stewart has overseen the renovation work: “Renovating the rooms at Coleshill Town Hall has been a long process but the result is a vibrant, practical office space that can really bring benefits to the local community. Local residents will be able to start their business in a low cost environment - an absolute necessity in these difficult times.” Business Advisor, Robin Underhay, will be providing support to new businesses in Coleshill: “I’m really excited that this new centre is finally open! We’ve worked with lots of new businesses in this area and there is so much enthusiasm, Coleshill Business Centre will give this enthusiasm a focus. No matter what your business idea is you’ll find something here for you so please get in touch with us to see how we can help.”

Contents

You can contact Robin on 024 7623 6001 or by email on [email protected]

pg 2 MAP out your future! SPEEd up your business plans

Attention all Women in Business!

pg 3 Education Post-graduate Certificate in Business Enterprise BA/BSc in Enterprise and Entrepreneurship pg 4 Exciting new entrepreneur exchange programme launches in the West Midlands Virtual Office pg 5 New for 2009

As part of our New for 2009! series we are launching ‘Women in Business’, a brand new programme of activities and events aimed at empowering experienced and novice business women. You don’t have to run your own business to join in, you just need to have an enthusiasm for enterprise and be willing to share your knowledge and experience with others. The first activity to launch is our series of regular networking events. Unlike traditional business networking you don’t need to have anything to sell and we’re not restricted to ‘by invitation only’ membership or one business of each type rules. The emphasis is on empowerment, knowledge and having

fun! You never know what’s coming next in business so having a large network of contacts to call on is all important. Even better if you’ve got to know that person in an informal setting so when it comes to business the trust is already there. We really want to hear what you would like to see as part of ‘Women in Business’ in the future. If you’ve got any ideas for future events, subjects you’d like as part of a training programme or if you’ve got a success story to share then get in touch with us on [email protected] Join us at our launch event on Friday 3rd July 2009 at 10am to be inspired!

Business Plus

MAP out your future! Just because term is nearly over at Coventry University it doesn’t mean that business support for our students finishes too. The popular Mentoring and Advice Programme (MAP) will still be available during the summer months, enabling students to continue growing their business without the pressure of degree course attendance at the same time. In previous years our support has been unavailable for the summer months but with an increasing number of students resident full-time in the Coventry area we’re staying open this year. If you’re a Coventry University student and would like to book an appointment with a business mentor then please call in to the Student Centre on Gulson Road or call Karen on 024 7679 2029.

SPEEd up your business plans

Student Placements for Entrepreneurs in Education, known as the SPEEd programme, has been given the go ahead to run until 2011 following its successful delivery during the last two years. The SPEEd programme, which is part of a wider initiative managed by the University of Wolverhampton and involving other West Midlands universities, is designed to support undergraduate and post-graduate students at Coventry University to start their own business. The programme gives students who are interested in starting their own business the opportunity to access mentoring, advice, training, networking opportunities and office space, as well as a grant, averaging at £2,500, to help towards those all important start-up costs. Over the last 2 years the SPEEd programme at Coventry University has helped around 80 students to enhance their business skills through the development of their business idea. As this is a university programme the emphasis is on the learning experience for a student rather than the financial success of their business venture, although many of the past participants are trading successfully. One such success story is Richard Burridge, founder of website StudentMoneyBack.Com and owner of e-Marketing Media Ltd. Read more about Richard’s journey to success in the case study below.

Spotlight on... Richard Burridge Name: Richard Burridge Occupation: 3rd Year Student, BA Enterprise and Entrepreneurship and business owner Background: In addition to his degree course, Richard runs e-Marketing Media Ltd which provides website design and e-marketing advice to businesses. Richard has also set up the successful StudentMoneyBack.com website, a service which enables students to earn cashback from their online purchases. What does he say? My enterprise degree has helped me learn the skills needed to set up a successful business. I came to Coventry University with the aim to set up my own company and I achieved that within the first year of the course. Now in my third year, I run two successful Limited Companies. The Speed programme provided me with the money to start a business that would not have been possible without it. It really is a fantastic resource for students.

NEW PIC HERE

NEW PIC HERE

NEW PIC HERE NEW PIC HERE Tom Williamson, Lecturer in Enterprise and Entrepreneurship

Education

There is a well documented debate on whether you can teach someone to be an entrepreneur - isn’t it something that you are rather than something you learn to become? Here at Coventry University we like to think that we’ve embraced both sides of the argument and come up with a range of courses to suit a variety of needs. Whether its a short course in business start-up skills or a degree in entrepreneurship we’ve got something for you. Just two of our education options are explained below.

Post-graduate Certificate in

Business Enterprise This four-day course is aimed at new and experienced entrepreneurs and is designed to equip participants with the essential skills and knowledge required to start their own business. The course will take an in depth, yet practical, look at the processes involved and by the end of the sessions the participant should have the beginnings of a business plan. The course covers the following key areas, maintaining a focus on group participation, practice and knowledge sharing: • Planning for a Successful Business • Innovative Product Development for Business Enterprise

BA/BSc in Enterprise and Entrepreneurship The Enterprise and Entrepreneurship degree is a novel approach aimed at equipping students with the knowledge and experience necessary to start and run their own company. By a unique combination of theoretical content, advice from experienced entrepreneurs and the opportunity to start an individual or group venture, students can enhance their skills and experience the real world of business. Each of the students, as an integral part of the degree, is encouraged start their own company and run it applying concepts and skills learned. It is expected that by the end of three years, the graduate will not only hold a degree, but will also be running a sustainable business.

• Sales and Marketing Strategy for Business Enterprise • Developing a Financial Strategy for a Business Enterprise

The IAE launches innovative support package as businesses face the economic downturn With the economy testing even the most successful companies of late, business owners now have the opportunity through the Economic Challenge Investment Fund (ECIF) to create the right entrepreneurial environment for their future. The package was put together by the IAE to help companies gain the right entrepreneurial environments through innovative improvements, goals and actions. Businesses will have a series of initial meetings to determine their individual entrepreneurial profiles, business viability and goals, which will determine the route required through either research, training, diversification, or even new markets. For further information on how to apply contact Julia Stew on 07974 984299

Spotlight on... Simon Hill Name: Simon Hill Occupation: 3rd Year Student, BA Enterprise and Entrepreneurship and business owner Background: As well as being a student, Simon is president of the Students in Business Society and founder of ‘Summit Marketing Solutions’ and ‘In Loving Memory Tributes’. Simon has taken full advantage of the business support on offer from the Institute of Applied Entrepreneurship attending networking events, mentoring sessions and using the office space. What else should we know? Summit Marketing Solutions provides an innovative advertising solution for businesses by placing adverts in locations, such as hairdressing salons, where there is a ‘captive’ audience using digital LCD displays. In Loving Memory Tributes is a website dedicated to providing space for people to remember their loved ones. Simon has been successful in gaining a place on the SPEEd programme which he will start once he graduates in the summer. He will become an Enterprise Fellow which is a new sub-programme within SPEEd this year, providing extra support for graduates with growing businesses. What does he say? “I chose the BA Enterprise and Entrepreneurship course due to its vocational modules that worked along side my own business, as well as the various other support mechanisms like funding through the SPEEd programme. I highly recommend the course, especially as it has improved over the years offering a broader subject area for any budding entrepreneur. My future prospects have been significantly improved over the last 3 years, with two businesses up and running and already employing my first member of staff, my future as entrepreneur is bright.”

Exciting new entrepreneur exchange programme

launches in the West Midlands

Coventry University is working with other European universities to operate an exchange programme for new entrepreneurs, funded by the European Commission. ERASMUS for Young Entrepreneurs is aimed at helping new entrepreneurs to acquire relevant skills for managing and growing a small or medium sized enterprise by working with an experienced host entrepreneur in another country for 1 to 6 months. ERASMUS for Young Entrepreneurs is ideal for you if you want to: • Work with a serious, committed and motivated new entrepreneur from another country who contributes with new and fresh ideas • Gain access to new skills and innovative knowledge • Gain knowledge about foreign markets - including business contacts - and increased opportunities to internationalise your business • Improve the growth potential of your enterprise and have an opportunity to establish a new business partnership directly with an entrepreneur from another country We are currently looking for new entrepreneurs (owners of businesses trading for no more than three years) and host entrepreneurs in the West Midlands area who would be willing to participate in the scheme and share their entrepreneurial experience with an entrepreneur from another country. For more details or if you are interested in participating either as a host entrepreneur or new entrepreneur, please visit the ERASMUS project website at www.erasmus-entrepreneurs.eu to register your interest. If you have any further queries please contact Barbara on 024 7623 6001 or email [email protected]

Virtual Office Running a business is tough, especially in those early days when employing receptionist staff or having dedicated office space is simply not an option. Missing calls from potential or existing customers, or utilising a home address can have a long lasting negative impact on the professional image of your business. The Institute of Applied Entrepreneurship is on hand with its fully equipped virtual office solution, 4Front, at a very affordable price. The 4Front service gives businesses peace of mind that calls are being answered in a professional manner, and that company image is being maintained with a professional business address. 4Front offers different levels of service to fit your business needs, plus lots of additional benefits to help your business grow. Level 1 - Mail receipt £15 per month* Level 2 - Mailing and Registered Address - £25 per month* Level 3 - Telephone Answering (includes mailing and registered address) - £50 per month* Level 4 - Institute Corporate Identity - £100 per month* *Prices are subject to VAT, an initial set-up fee of £50 and payment of 3 months fee in advance

Please contact Ben on 024 7623 6001 or email [email protected] for more information.

New for 2009! Network Plus Re-launches

Network Plus returned in May with a long awaited new programme and revitalised format. With bigger and better topics than ever before, the new programme of events will take much more time over the subject area and give you more time to ask questions. We’ll also be focussing on beneficial networking activities and improving networking skills. Read on for a glimpse of the forthcoming summer programme. Wednesday 24th June, 12-2pm Making your e-commerce strategy work for you

NEW PIC HERE

Wednesday 29th July, 12-2pm How small businesses can survive the future Wednesday 26th August, 12-2pm Using Social Networking to market your small business Wednesday 30th September, 12-2pm Managing innovation in small businesses Wednesday 28th October 2009, 12-2pm Essential Basics of Small Business Finance

Our host venues will be changing each month so make sure you log on to our website for more information - visit www.coventry.ac.uk/enterprise and click on the ‘support for business’ link.

Inspiring Female Entrepreneurs

The Institute of Applied Entrepreneurship is launching a range of activities and support for female entrepreneurs. The first service to launch will be a series of quarterly networking events aimed at giving women a chance to improve their networking skills and meet new contacts. The first two events to be organised are: Friday 3rd July, 10-11.30am - Improving your networking skills to gain the most for your business Friday 16th October, 10-11.30am - What sort of entrepreneur are you? Your entrepreneurial profile plus networking activities

Business Directory

Do you want to promote your business for FREE to hundreds of other potential clients? You may be aware of our Business Directory but if you’re not, it is a great opportunity to get some free publicity for your business. The directory can be accessed via www.businessenterpriseworks.org, just click on the directory, register and add your details. The listing is free to all of our past and present clients.

Training Plus

We are due to launch a new programme of short training workshops this summer which will expand on the topics covered during Network Plus but also include some new subjects to help you to grow your business. Training Plus will cover subjects such as Search Engine Optimisation, Networking Skills and the self employment process (provided by HM Revenue and Customs). If you have any ideas for training topics please let us know.

SMS Service

Stay in touch with forthcoming events, new developments and opportunities by text message. If you would like to subscribe text IAE, followed by a space, and then Student, Graduate, Business or Info to 60777. This service is free to receive but it will cost you one text message at your standard network rate to subscribe.

Website Revamp

We’re revamping our website at the moment and we’d like to know what you want to see on there. Check out www.coventry.ac.uk/entrepreneurship and get in touch with your suggestions. Also search for us on Facebook and Twitter.

The Institute of Applied Entrepreneurship is home to all enterprise and entrepreneurship activities at Coventry University. The Institute offers students, graduates and staff a broad range of entrepreneurial support and services for every level and stage of business start-up and growth. The vision of the Institute of Applied Entrepreneurship is to become an internationally recognised institute of excellence promoting an entrepreneurial lifestyle and mindset within the University community and it’s stakeholders. Get in touch now to find out more about how we can help you get on the road to success!

The Institute of Applied Entrepreneurship Coventry University Enterprises Ltd The TechnoCentre Puma Way Coventry CV1 2TT Telephone: 024 7623 6001 Email: [email protected] Web: www.coventry.ac.uk/entrepreneurship