THE HUNT is on to find two new Nottingham retailers who will each win £10,000 in funding – and business support from some of the city’s top business experts.
The unique initiative, called Inspiring Retail Nottingham 2013 is a city-wide competition to find either would–be retailers or existing shop or restaurant owners who want to expand their current businesses.
The initiative has been funded through the High Street Innovation Fund which was given to a number of UK towns and cities following retail guru Mary Portas’s review of town centres. To complement a package of other projects, Nottingham wanted to come up with a really innovative way of spending some of the grant – and came up with the Inspiring Retail Nottingham competition.
Inspiring Retail is an ingenious collaboration of Nottingham City Council, NBV Enterprise Solutions and five private sector organisations. The aim is to invite potential retailers to enter the competition – with ten shortlisted finalists ‘pitching’ their business ideas to the Inspiring Retail ‘dragons-style’ panel in the autumn.
Two winners – one in the over 30 category, and one in the under 30 category – will then be announced at a special presentation evening in November.
As well as the funding for set up costs and stock, the two winners will gain insightful help and advice from the panel of private sector sponsors worth an estimated £50,000: Yorkshire Bank will be offering financial advice, property consultants FHP will source a suitable retail unit in Nottingham city centre for each retailer, law firm Fraser Brown will be assisting with legal issues and HR, accountancy and tax advices will come from Smith Cooper, and marketing and creative agency Rizk McCay and PR agency Cartwright Communications will offer PR and marketing support.
Applicants should log onto www.inspiringretail.org.uk
to find application forms and competition guidelines - or call the free helpline on 0844 8872568 for more information and help on how to complete the applications process. Applications should be in by 9 September. Interviews will be held on 13 November – and winners will be announced at a special presentation on 21 November.
Article by Liz / 16th August 2013
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