Get Mentoring aiming to grow programme

  • 1-19-2012

Get Mentoring aiming to grow programme

TWICE as many small businesses survive their crucial first five years if they have a mentor to advise them, compared to those which go it alone, according to a Government-back initiative to boost mentoring.


Get Mentoring, which has signed up an impressive range of backers, says around 70% of small firms with mentors manage to get through the difficult first five years and go on to flourish.


The organisation, which is led by the Small Firms Enterprise Development Initiative (SFEDI), is looking to recruit and train thousands of business mentors from small, medium and micro business community.


It received £1.2m in funding from the Government to set up the scheme, which works across a range of mentoring groups that can all be accessed via the Mentorsme.co.uk web portal. The site, run by the British Bankers Association (BBA), is designed to help people starting up and running small enterprises to find suitable mentors to support them.

 

The platform aims to help small firms by providing mentoring advice either in person or online.

The latest group to give its support to the scheme is the Federation of Small Businesses (FSB). Get Mentoring also counts the Forum of Private Business, British Chambers of Commerce, Institute of Directors and Shell Livewire among its list of influential backers.

Get Mentoring said that, in addition to boosting survival rates, those small enterprises which worked with mentors were more likely to be looking to grow their business over the next two to three years.

The findings, from 2010’s Small Business Survey, suggested that those who sought mentors were more likely to have already added to their workforce as well as having ambitions to employ more people in the next 12 months.

They were also likely to have already increased their turnover in the previous year and were 30% more likely to be confident of growing their revenues further in the year ahead.

Meanwhile, Get Mentoring said that pilot schemes had shown significant improvements in “soft skills” such as business confidence and aspiration among mentored firms. These abilities have been credited for helping to boost business performance, including increased sales, employees, turnover and profit.

And both the mentor and mentored’s professional development benefited by enhancing leadership and management skills and abilities.


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