Launch of BT London Kick Start Scheme (Regional)

  • 10-10-2011

BT Business has launched a finance scheme offering start-ups in London the chance to lease up to £15,000 worth of technology and telecommunications solutions. Under the ‘Kick Start Scheme’ in conjunction with Shire Leasing, new businesses trading for under three years will be eligible for funding subject to credit vetting.

BT’s ‘KickStart Scheme’, available through the BT Local Business network in the capital, aims to help small businesses raise funds in a challenging economic climate and to avoid having to rely on bank loans, overdrafts or credit cards. Businesses trading for less than three years are generally unable to obtain credit from lenders and when they can gain credit they will have to budget and pay on standard payment terms.

‘KickStart’ offers start-ups the opportunity to purchase a range of technology and communications products and services including telephone systems, handsets, connection charges, software licences and IT equipment such as laptops. The scheme is open to all industry types and has very flexible underwriting, aimed at delivering higher acceptance levels for new-start companies. An average £3000 loan will cost less than £20 per week and can be added to as the business grows.

Duncan Ingram, BT’s director for London, said: “The UK has an average of 270,000 start-up businesses every year, with around 50,000 launched in London during 2009 alone. In light of the current economic climate we want to help these businesses access the products and services they need to get their new venture up and running. Our ‘KickStart Scheme’ offers finance over a fixed term, at a fixed rate, making it easier for customers to budget.”

Karina Knudsen, Head of Business Development at the British Chambers of Commerce also welcomed the launch: “The BCC has long called for more support for small businesses. Financing that specifically helps start and grow new ventures will considerably reduce the current credit difficulties that owners face.”

New and existing BT Business customers will be able to take up the ‘KickStart Scheme’ offers as long as they have been trading for under three years, subject to a credit check. For more information about Kickstart and other BT products and services please contact your BT Local Business

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