OVER 320 entrepreneurs in Scotland have launched new small business ventures thanks to the British Business Bank’s Start Up Loans programme.
The initiative, aimed at supporting those previously unemployed or economically inactive, has provided £3m in funding since its inception in 2012.
It has provided aspiring business owners with the financial boost needed to transform their ideas into successful enterprises.
New data from the Office of National Statistics (ONS) reveals that 133,000 people in Scotland are unemployed, representing 4.9% of the working-age population.
Other groups supported by the programme include young individuals out of education, economically inactive adults, and retirees looking to start new ventures.
One standout recipient, Andreea Niculescu from Rutherglen, launched Belladreea, an online children’s partywear brand, in 2022.
Inspired by her search for unique clothing for her daughter Arabella, Andreea used a £10,000 loan to cover set-up costs, including stock purchases, website development, and marketing.
Her business, now in its second year, has reached customers worldwide and is growing through social media and partnerships with brand ambassadors.
Discussing her journey, Andreea said: “The idea for the business all started when I became a mum.
“I wanted to dress my little girl like a princess, but I couldn’t find the type of thing I was looking for.
“When the time came for her baptism, I really struggled with the choices in local shops or UK-based websites.”
Operating from her home in Rutherglen, Andreea has seen Belladreea grow rapidly, reaching customers worldwide and gaining a strong social media presence.
She said: “Since starting, the shop’s social media following is steadily increasing along with orders.”
Andreea added that Belladreea is adapting to trends by using recycled packaging and hopes to expand into a physical store.
Richard Bearman, managing director of small business lending at the British Business Bank, said: “We are immensely proud to support the entrepreneurial spirit within communities that traditionally face barriers to financing.
“Our dedication to inclusivity is plain to see, and we will continue to champion the dreams of aspiring entrepreneurs.”
