BT is helping North East start-ups gain access to latest Internet technologies thanks to a new finance scheme.
The ‘KickStart Scheme’ gives businesses in the region the chance to lease up to £15,000 worth of technology and telecommunications, without having to rely on bank loans, overdrafts or credit cards.
It is now hoped that the fund will help around 7,000 businesses that set up in the region each year.
Chris Sayers, BT’s regional director for the North East commented: “In light of the current economic climate we want to help these businesses access the products and services they need to get their new venture up and running.
“Our KickStart scheme offers finance over a fixed term, at a fixed rate, making it easier for customers to budget.
A.I. Global Media have already benefited form a similar scheme thanks to Shire Leasing. The funding helped managing director Jane Parker purchase technology solutions for her corporate finance publication.
She added: “When starting out, it was crucial to launch the business in the most cost effective way possible.
“The leasing scheme allowed us to get the equipment we needed at a fixed rate and also meant we keep what capital we had in the bank to ensure we had some cash flow.”
This scheme also responds to repeated calls for support for small businesses, and andy new and existing BT businesses who have been trading for 3 years or more can apply.
Karina Knudsen, head of business development at the British Chambers of Commerce said: “Finance that specifically helps start and grow new ventures will considerably reduce the current credit difficulties that owners face.”