57% of small business owners have never had a mentor. Let’s change that.
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Two big dates are coming up: National Mentoring Day on Tuesday 27 October, and John Healey’s first Budget the day after. We’ve got you covered for both. Our new report, Mentoring Matters: Four Years On, found that 57% of small business owners have never had a mentor, and solo founders are the least likely to have one (37%, against 52% of businesses with employees). Owners who rate their mentoring highly are also more confident their business will survive (65% against 50%).
On the Budget, our CEO Aaron, head of policy Daniel and I have scored every rumour out of 10, from rates relief to family business tax, so you know what to listen for. Our honest take? Stability would be a win, and a boost to small business rates relief would be the cherry on top. Read the Budget chat and look out for our Budget special next week.
Meanwhile, EDF Energy shares five practical ways to trim your energy bills as the colder months arrive, Luke Geddes of Retail Growth explains how to size up your first shop unit before you fall for the frontage, and our COO Polly asks why so many founders rule themselves out of funding before they apply.
Finally, a story that shows what a good idea and a bit of backing can do. Tom Helm of KESWICK3, whose Land Rover cup holder turned into a business and won our Next Generation Grant.
From Land Rover restoration to business idea: How Tom Helm won the Next Generation Grant
Mentoring Matters: Four Years On – why 57% of small business owners have never had a mentor
Save energy and reduce costs when running a business from a premises or your home
Why aren’t more founders and small businesses applying for funding?
Enterprise Nation and EDF Small Business, supported by Square, are giving out £25,000 in funding to help 25 small businesses invest in practical improvements. Each successful applicant will receive a £1,000 grant to support the next stage of their businesses.
💳 NatWest offers a range of business bank accounts, like Mettle – send invoices on the go, auto-match payments and get instant notifications. Register your interest.
💯 Entries are open for the Elite Business EB100 2027. Get your business listed amongst the UK’s top 100 SMEs.
🤖 Access fully-funded AI training with courses designed to support adoption, boost productivity, and turn technology into a catalyst for change.
📊 Growth on hold: The year rising costs swallowed small business growth plans.
🤝 Join conversations with like-minded members in Groups
Supply Connect Procurement Club: Tender responses that win
🗓 Wednesday 18 November | Online
That’s all for this week!
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