Start Up Loans programme celebrates 10th anniversary and appoints regional ambassadors

The government’s Start Up Loans Programme, delivered by the British Business Bank, has celebrated its 10th anniversary and appointed 12 regional ambassadors across the country.

The British Business Bank has also named Lancashire-based Hellion Toys, a company selling hand crafted wooden toys for children, as the programme’s champion for the North-west region.

The company is one of over 12,000 businesses in the region to have benefited from the scheme, receiving an average loan amount of just over £9,000 to support new businesses (trading for under two years). In 2022, the programme was expanded to make first loans available to businesses that have been trading for up to three years, and second loans to businesses up to five years.

Selina Ellis-Gray (pictured), founder of Hellion Toys took out her loan in 2018 to set up her workshop in Clitheroe on the outskirts of the Forest of Bowland. She used the loan to set up a workshop with a self-build CNC kit, and since launching she has been able to move into a bigger workshop and purchased two additional pieces of equipment after taking out a second loan in 2021. In addition to producing toys, she undertakes illustrations, design commissions and now partners with companies to create interactive signage for wildlife parks and looks to expand into interiors. Selina said:

“After spending years in academia as a digital designer, I decided to use the knowledge I had gained to set up a designer-maker space. The origins of Hellion Toys lies in the research I undertook during my PhD and weaving together a passion for playful, educational, and sustainably focused design.”

The annual Start Up Loans Ambassadors programme, now in its seventh year, celebrates exceptional business owners, like Selina, who have followed their ambition of becoming their own boss after receiving support from the government-backed Start Up Loans programme. 

Drawn from each of the UK’s 12 Nations and regions, the 2022 Start Up Loans Ambassadors reflect the broad diversity and ambition of the nation’s smaller business sector at a grass roots level. More details of the businesses selected from Northern Ireland, Wales, Scotland and England’s regions can be found further below. 

Start Up Loans was established as a £10 million pilot scheme by Lord Young in 2012, in the shadow of the 2008 financial crisis. His vision was to enable more young people to achieve their dream of setting up their own business, by offering affordable loans and expert support to those who might otherwise struggle to access funding.

Since then, the programme has delivered more than 97,000 loans to business owners across the UK, amounting to more than £900 million of funding, while expanding to support entrepreneurs of all ages. 40% of loan recipients have been women and 21% people from minority ethnic backgrounds. 40% of recipients have been aged 18-30, reflecting the scheme’s continued support for the next generation of UK business owners. 

Sophie Dale-Black, UK Network Director, North of England and the Midlands said:

“Given the current challenges facing business owners across the North West, it’s never been more important to celebrate those using creativity, tenacity and grit to make a success of their enterprises. It’s my pleasure to welcome Selina and congratulate her on her role as Ambassador, and I look forward to working with her over the coming year to inspire others thinking of becoming their own boss.” 

Tina McKenzie, Policy and Advocacy Chair at the Federation of Small Businesses, said:

“This is great news from the British Business Bank, marking 10 years of improving the small business ‘birth rate’, and at the same time powering the levelling up agenda by supporting small business creation in all the UK nations and regions.  Today’s figures and ambassadors are a real legacy for Lord Young, and we hope that this can be built on and expanded in future.”

Through a network of delivery partner organisations, the Start Up Loans programme provides access to pre-and-post loan support to help applicants to develop a business plan; fixed-interest first and second loans of up to £25,000 to start or grow their business; as well as mentoring support to help loan recipients with everything from cash flow to marketing.