Joe Wadge and Becca Speare

A recent example of this in action is joint clients Joe Wadge and Becca Speare. Both under 25 years old and keen to be new entrepreneurs, Joe and Becca were left devastated after being told they would receive £21,500 funding to set up their business only to be turned down by their bank at a later date. According to Becca, this decision held starting their business back by 6 months.

Looking for a way to overcome their barriers and achieve their dream of running a restaurant, they joined the Outset programme in 2012. “A combination of having a strong belief in the welfare of animals and a huge passion for food, we really wanted to start our own business and open a restaurant of our own.” Becca said.

The pair were assigned to an Outset advisor who helped them create a more robust business plan and a strong financial proposition, making them investment ready. Joe and Becca were then referred to the Fredericks Foundation and others for funding. Their pitches were so successful that they were able to raise £15,500 towards their venture – finally they could realise their entrepreneurial potential!

Fredericks Client Manager Annie Popham said: “It was clear that Joe and Becca had prepared thoroughly for their funding pitch through the help of the Outset team’s investment readiness process. As a result, all the questions asked by our Lending Hub panel were answered clearly and knowledgeably, so it was an easy decision for us to offer them finance.”

As a result, Joe and Becca have just launched The Samphire Brasserie, a vegetarian restaurant in the heart of Plymouth.

Fast forward to 2014 and the business is still going strong with the pair hiring three full time staff members to cope with the demand for business.

Becca said: “The workshops and coaching gave us the support and confidence we needed to believe in our idea. We truly don’t believe our dream would have become a reality if it wasn’t for Outset and Fredericks Foundation”.