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New online tool for East Lancashire entrepreneurs
5:25pm Monday 2nd September 2013 in News
WOULD-be entrepreneurs in East Lancashire are being encouraged to use a new online tool to see if their business idea has the potential to be the county’s next big success story.
The new ‘Rapid Idea Evaluation’ tool has been unveiled by experts from Boost Business Lancashire (Boost) – the county’s new £7.2m Business Growth Hub – to help potential start-up businesses grade their potential for success.
Using the Boost website, entrepreneurs are encouraged to answer 20 questions about their business idea on topics such as vision, motivation, experience, competitors, routes to market and customer needs.
The tool uses a special formula to give those completing the form a percentage chance of business success and an action plan for areas that need further focus.
Boost advisors are then able to contact the most promising entrepreneurs to offer them further support in relevant areas.
Tim Smith, senior consultant at Winning Pitch, said: “Lancashire has a rich vein of business innovation and we know there are people in the county with great business ideas but who lack the full knowledge and support to turn these ideas into reality.
“Our Rapid Idea Evaluation tool has been designed as a first step to engage with those people who want to explore their idea.”
Leader of Lancashire County Council Jennifer Mein said: “It's important that we have the right conditions for business growth.
“Boost Business Lancashire is a catalyst to grow the county’s economy by £20m, with the aim of creating at least 1,200 new jobs and safeguard 700 more by 2015. By offering guidance and support for would-be entrepreneurs, we can help create the next generation of successful businesses.”
Those looking to test their business idea can visit www.boostbusinesslancashire.co.uk/leap.
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