In the UK, 6 out of 10 new startup businesses fail within 2 years!
Here at Made in Bury, we are focused on challenging these statistics by helping new startup businesses in their early years and after speaking to lots of new start-ups, we quickly determined what they needed:
1. A support network of likeminded people going through the same challenges as them.
2. An understanding of the range of skills required to build and grow a successful business.
3. Access to a mentor, someone who has been there and done it.
4. Access to funding in the early stages when they need it most.
So where can you find all these things under one roof? Unfortunately, after extensive research we concluded that as a start up with limited funds the answer was nowhere, so, in early 2016 the Made in Bury Business Academy was born.
Phil Fellone said “As business owners, we believe that we have a responsibility to help the next generation of entrepreneurs and ‘Helping tomorrow’s Businesses Today’ is the foundation that the Made in Bury Business Academy was built on.”
Partners, Debi and Phil Fellone created 18 business modules based on their real-life business experiences. The modules cover everything from Vision, Mission, and Values through to Marketing, Networking, and Building a Brand and over 12 months a cohort of 20 startup businesses came together for a couple of hours twice a month in a relaxed but structured board room environment hosted at BusinessLodge. We delivered the modules with assistance from several fantastic local businesses here in Bury, who add real value as guest speakers sharing their expertise and learnings.
Fast forward almost 7 years and 125 startups have come through the Academy with a clear cohesive Business Plan for the future. With over 70% of them still trading today, that’s over double the national statistics!
Here are a few testimonials from past Academy members:
Although unsure at first to the benefit of what the Made In Bury Business Academy could offer me, both Phil and Debi have opened my eyes and ignited my brain as to not only what a new company needs to think about when initially starting but also what a successful, long term company needs to act and look like. Each session is made to be enjoyable as well as informative and you can tell they really want you to succeed long beyond your “Graduation” from the Made in Bury Business Academy. I wouldn’t hesitate to recommend them to anyone starting their journey into owning and running a successful business. JOHN - OPEN SPACE ALUMINIUM LTD
The Made in Bury Business Academy has been one of the best decisions I made for my business.The course made me stretch myself to think about what I want from my business in terms of development and expansion. I have made some really important changes to my business, and I am now in a position where I have grown to a point where I have employed staff. I don’t think this is something I would have done without the input from the academy. The best thing about the academy though has to have been the support from Debi and Phil and from the other academy members. The group shared skills to benefit one another and I really feel I am leaving the academy with a wealth of knowledge and some fabulous friends. DEBBIE - PAD FOOT & PAWS
The Business Academy is funded by The Made in Bury Weekly £2000 Draw, a not-for-profit initiative, licensed by Bury Council which will also be providing interest free loans to startup businesses, helping retain and create jobs here in Bury. Every Wednesday, someone in Bury wins £2000, a ticket costs just £2 and with only 2400 tickets available, the odds of winning are high. The response has been phenomenal with over 100 ‘Official Supporters’ from across both public sector organisations and private sector businesses in the borough and over 1850 tickets already sold.
So, what’s next for the Academy?
Since selling our other business thebestofbury last December, we have been focusing all our time and energy on the next chapter of the Academy and we are very proud to officially unveil, The Made in Bury Business Academy Patrons Club.
11 outstanding local businesses with the shared vision of helping the next generation of Business owners and nurture and develop successful entrepreneurship in Bury.
In association with Headline Partners, Connect Comms and Consilium Wealth Management, the Patrons will provide a Mentoring resource to the Academy start-ups and once we reach the target of 2,400 Weekly £2000 Draw tickets the Patrons will also sit on the Loan Panel providing Interest Free Loans to Bury start-up businesses, a first in the UK, reaffirming our commitment to ‘Helping tomorrow’s businesses today’.
