Post & Packing is supporting its franchisees to access government-backed Start Up Loans.
While businesses across the UK have suffered over the past year - and many have been forced to close their doors for good - the government has launched various financial support packages. Rishi Sunak’s £350 billion pledge to UK businesses has helped many companies access grants, loans and business rates holidays in 2020 and 2021.
But one of the UK’s longest-standing support packages is the Start Up Loan, which lots of entrepreneurs have used to nurture business growth over the past year. The financial package is an unsecured personal loan, as opposed to the many business loans available through the government. Ambitious bosses can access between £500 and £25,000 to launch or grow their business.
The loan includes free support and guidance to help the recipient write their business plan, as well as up to a year of free mentoring. If you’re successful in your application, you’ll repay the sum over a period of one to five years, at a fixed interest rate of six percent. There’s no application fee and no early repayment fee.
The Start Up Loan has helped a huge number of entrepreneurs reach their goals in difficult circumstances, including many Post & Packing franchisees.
The courier and delivery franchise was able to continue operating throughout most of lockdown as an essential business. During this time, the franchisor supported individual franchisees to apply and prepare for the Start Up Loan package, so they could continue delivering their wide range of services.
Franchisees post letters and parcels, arrange couriers, sell boxes and even offer storage solutions. Recently, the franchise has also become a Hermes drop-off location, helping even more customers send and receive parcels.
Find out more about how you can start your own Post & Packing shop with expert franchise support on the brand’s profile page.
Alice Tuffery, Point Franchise ©