Start Up Loans celebrates £25m of loans to entrepreneurs in Hampshire
Start Up Loans today announces that it has provided over a thousand founders in Hampshire with £25m in loans through its partners since the programme began in 2012.
Across the South East region as a whole, over 12,200 aspiring entrepreneurs have taken out a Start Up Loan since 2012. These loans have amounted to over £130m in funding, with an average loan value of £10,690.
In Hampshire, based on analysis of figures for each of the county’s parliamentary constituencies, Portsmouth is an entrepreneurial hotspot with the highest number of Start Up Loans being given to businesses in Portsmouth South with Portsmouth North in third place. By value of finance provided, the three most entrepreneurial constituencies are Portsmouth South, Southampton Itchen and Portsmouth North.
Loans to female-led start-ups made up 37% of the total loans issued to entrepreneurs in Hampshire. This broadly reflects the overall programme’s gender split while exceeding the level of female business ownership in the business population. Wider market data shows that, in 2022, 18% of smaller businesses with employees and 20% of smaller businesses without employees were female-led.
One example of entrepreneurial success in Hampshire is Sam Hopkins, who founded New Forest Skate Hub. At Bartley skatepark in Totton, Southampton Sam shares his passion and knowledge for skateboarding through coaching both children and adults of all abilities the joys and skills of the sport, fostering confidence, inclusion and community.
Sam Hopkins, founder of New Forest Skate Hub: “Turning my love for skateboarding into my work has been incredibly rewarding. There’s nothing quite like helping others to overcome challenges, grow and reach their goals. Providing a safe space for individuals to express themselves by freedom in movement but most importantly having fun whilst doing it.
It’s not all about the tricks but knowing how rewarding it is mentally, physically and socially. I support anyone who seeks the competitive side of the sport and watching one of my students go on to compete has been a particular highlight for me. The finance and support were vital to me being able to purchase the necessary equipment to turn my passion into a business.”
Louise McCoy, commercial managing director, Small Business Lending at the British Business Bank said: “Reaching the £25m milestone in loans to entrepreneurs in Hampshire is a testament to the diverse and vibrant business landscape of the region. Community-focused ventures like the New Forest Skate Hub are crucial to contributing to the local economy, but also add social value to local people. The people Sam is teaching to skateboard are learning a new skill, enjoying themselves and supporting a local business, all of which are fantastic. Each Start Up Loan represents a story of ambition and we’re proud to support founders like Sam in turning their business dreams into reality.