Transmit Start-Ups has hit a major milestone after delivering over £20,000,000 worth of start-up loans to 2,000 entrepreneurs across the UK.
The company has completed four years as a major North East delivery partner for the government’s Start-Up Loans scheme and has expanded operations into Scotland, Northern Ireland and Wales in the last 18 months to cater for the growing demand on its services.
The 2,000th business to benefit is The Dukes gastro pub in Bedfordshire, opened by sister team Jo Carter and Sarah Smith. Formally an Indian restaurant and takeaway, Jo and Sarah restored the 260-year-old thatched building back to a village public house after it lay empty for two years following the closure of Shaanti Restaurant in 2014.
Carter believes her background in business combined with her sister Sarah’s experience in the hospitality industry make them the perfect team. Jo is also owner and founder of successful Newcastle-based digital recruitment business Concept Personnel and Sarah has 12 years’ experience in hospitality, having previously worked at Michelin Star restaurant The Stonor Arms for 1.5 years.
Through their loans from Transmit Start-Ups, Jo and Sarah plan to fund further renovations to the pub to support growth projections.
To date, businesses supported by Transmit Start-Ups have created thousands of new jobs in the region across a range of industries, with 28 per cent of all their loan applications coming from the North East.
Commenting on being the 2,000-milestone recipient, Carter said: “Our journey to owning The Dukes pub started 10 years ago, when we popped in for a drink to celebrate Sarah’s children’s joint Christening. Little did we know then that we would end up owning the place!
“Sarah lives locally and spotted the pub was up for sale back in 2015. A full-time mum at the time, seeing the place empty sparked memories of how much she loved working in hospitality. We talked about the prospect of taking it on over Christmas and the more we spoke about it the more it became clear that The Dukes had potential to be a very successful business.
“It took a lot of vision and even more hard work, but to restore this pub to its former glory as the heart of the village has been so rewarding. Everyone in the local area has been really supportive and the business has gone from strength to strength.
“We’re delighted to be the 2000th loan recipients and can’t wait to take The Dukes to the next level as a business.”
44% of Transmit Start-Ups loan recipients in the North East region have started their own businesses from full-time employment, while 15% are starting their own business after being unemployed for a period of time.
Richard Myers, commercial director of Transmit Start-Ups, concluded: “The Dukes and Jo and Sarah are the perfect example of the kind of entrepreneurs and business ideas we support. You don’t need to be an inventor or the next tech guru to call yourself an entrepreneur.
“We help those looking to start businesses across all industries. From app ideas to a local coffee shop, it’s about supporting entrepreneurs to get their ideas off the ground – not just through finance, but through support and mentoring to help entrepreneurs form a clear business plan that provides the foundations needed to give them the best chance of success.
“To have helped more than 2,000 entrepreneurs start their own businesses under the Start Up Loans programme is an amazing achievement. Since we expanded our Gateshead-based team and opened our new offices in Scotland we’ve been receiving more applications than ever.
“In July alone we approved over 100 loans – our highest to-date. Over the next 12-months we’re on-track to help more people than ever become their own boss.”