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  • Writer's pictureThe Place Support Team

Free VS. Paid Business Support

Starting a business in the UK can be a daunting task, but fortunately, there are several options available for free and funded business support.

While both options have their benefits, paid support is often considered the better option for entrepreneurs.

There are several free business support options available to business owners in the UK. These options include:

  1. Business Support Helpline: The Business Support Helpline provides free, impartial advice to business owners who need help with anything from writing a business plan to accessing finance.

  2. Local Enterprise Partnership (LEP): LEPs provide free business support and advice to small businesses in their area. They also offer networking opportunities and access to funding.

  3. Growth Hubs: Growth Hubs are local organizations that provide free business support, including advice, training, and funding.

While free support options can be helpful, they are often limited in terms of resources and support. Entrepreneurs may not receive the comprehensive assistance they need to start or grow their businesses.

Paid business support options provide entrepreneurs with access to resources and support that can help them succeed. Examples of paid business support in the UK include:

  1. Business coaching and mentoring: Hiring a business coach or mentor can provide entrepreneurs with personalized guidance and support.

  2. Accelerator programs: These programs offer intensive training, mentorship, and networking opportunities to entrepreneurs.

  3. Business planning and strategy consulting: Hiring a consultant can provide entrepreneurs with strategic planning and advice to help them achieve their business goals.

Paid business support options are often more comprehensive and can provide business owners with the resources they need to succeed. While there may be eligibility requirements and competition for these programs, they are often worth pursuing. While free business support options can be helpful, paid support is often the better option for businesses. Paid support provides entrepreneurs with access to personalised guidance, intensive training, and strategic planning, which can help them overcome the challenges of starting or growing a business. While there may be a financial cost associated with paid support, the benefits often outweigh the investment.

If you're a business owner in the UK, it's important to explore both free and funded business support options. While there may be competition and eligibility requirements for funded programs, they are often worth pursuing for the resources and support they provide. Ultimately, the right support can help you turn your business idea into a successful reality.

How can PSP help?

Our expert services range from cost reduction to sustainability, which can help you grow and succeed in today's challenging business landscape. We work with Business Improvement Districts (BIDs) nationwide, and our services are fully-funded by them, allowing you to access our services without any additional financial burden.

As a member of a BID, you can take advantage of our popular Place Saving service and Business Health Clinics, which provide paid business support at great value.

If you're not a member of a BID yet, it's worth considering joining to benefit from our expert support and guidance. With Place Support Partnership, you can achieve your business objectives and thrive in the competitive market of today.

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