[PurefectWindowCleaning]

Other than myself, did anyone use these when starting up their business?

Would be intresting to hear other peoples opinions/experiances on the Princes trust as its only me and my brother who ive ever known to be supported by them.

[P @ F]

Good point James , i would like to hear about this too , my only reasoning is your avatar pic , you have been to Oz i take it , was this a work holiday ?
I only ask as one of my custies sons went there and did his bit , came back and was welcomed by the PT and was given a wedge to start his biz , maybe coincidence , not sure though .

Rich

[PurefectWindowCleaning]

Hi Rich. Yes have recently been to Oz but not a business trip... just a holiday.

I had a loan from them 8 years ago when i was 17.

[P @ F]

How much did you get , and how much you gotta give back , if you dont mind me asking !

Rich 

[colley614]

Yeah I got a loan from the princes trust when I started out. was quite fun, had to go before a board like dragons den.

[PurefectWindowCleaning]

I got £3500, and repayed £3500. I think £3500 is the maximum you can apply for.


Yes it was like the dragons den, you have to sit in front a panel and they have the final say on whether your successful or not.

Colley, was everything positive about your experiance with them? Did you stick to the business plan etc?

[colley614]

I thought it was a brilliant experience. I was told by a business mentor and friend that it would be really hard to get the funding if I didn't understand what I was doing and he also said not to expect the money before I'd been in front of the panel 2 or 3 times and updated my business plan and cash flow forecasts.

At first I was quite nervous starting to talk about myself and my plans until I noticed that there are no real trick questions as long as you know what you have written and that your finances are in perfect order on the paper. I think they only asked me 3-5 questions and then within about a minute I went off on one telling them this and that and they didn't really have to look at anything I had presented them with because I hit the with everything and explained how it worked in practise. I was then told my time was up and asked to leave the room while the board made a decision.

I was only out the room seconds when they called me back in. This time they were all stood up and fighting to shake my hand. They explained to me that the had never met someone so confident and determined to be a success and the guy who seemed to hold authority in the room said that out of everyone he met he was pretty sure that I had big things ahead of me with my grasp of business and knowledge of the industry.

I think that it was one of the most exciting experiences of my life but I would only recommend someone put themselves in a situation like that if they totally believed in what they are doing. I have met a few people who have been in front of them boards and been rejected because they didn't have a clue what they were on about and their figures were well out.

Its given me a lot of confidence knowing that I had these people so interested in me and I'd love to go in front of the dragons one day because I honestly think I could do it at that level too.