Page 9 - Market Times February 2014
P. 9

  Market Times • February 2014
NEWS
Low-cost loans available to new market traders
 MARKET traders with less than 12 months experience are being encouraged by the National Market Traders Federation (NMTF) to access financial support through a government- backed scheme.
Start Up Loans UK is a govern- ment funded initiative that provides loans and business mentoring to entrepreneurs across England, Wales and Northern Ireland.
The partnership with the NMTF, which began in November 2013, means the trade association can enable its members to access low- cost loans to grow their market
MAKING Markets Matter, devised and promoted by the National Market Traders Federation, is a nationwide campaign to persuade the shopping public to savour the joys of the UK’s retail markets.
In 2014 it’s back for its ninth year — and whilst some markets have already signed up for the event there are still slots available.
If you are an operator interested in taking part in 2014, please email vanessa.higginbottom@nmtf.co.uk or phone 01226 352812 and speak to Vanessa or Rebecca.
The campaign is backing the Government’s appeal to local authorities to consider the importance of markets when they are looking at town or city centre redevelopment.
Markets should be at the heart of towns and cities — in fact in many cases these centres grew around the markets.
Unfortunately in many places they have either been moved away from the main area of shopping activity, or the shopping footprint has moved away from the market.
Whatever the case, Making Markets Matter is usually centred in the main shopping area to persuade shoppers to visit their local market, using a variety of attractions such as an exciting prize vault, face painting, characters
based businesses.
Joe Harrison, chief executive of
the NMTF, said: “As a trade body for market traders, we recognise that the biggest barrier for new businesses on our nation’s markets is access to affordable finance. Simply, if you haven’t got the stock on your stall, you haven’t got a business.
“By becoming a referral partner to Start Up Loans UK, NMTF can now offer our members the full package — ‘Rolls-Royce’ insurance, affordable business services, tailor-made retail training and expert advice and guidance on markets and market trading.”
The partnership has also been welcomed by the National Association of British Market Authorities (NABMA), which represent the interests of market operators all over the UK.
Graham Wilson, chief executive of NABMA said: “Many markets have schemes in place to support new market traders. This support available through Start Up Loans UK and the NMTF should be bolted on to these schemes, giving new traders access to the funds they need.”
The average loan size for a start up loan is £5,400, with a fixed rate of six per cent. The loan, which is
repaid over one to five years, is a personal loan given for business purposes.
Joe added: “If any entrepreneur is reading this and considering launching a business on their local market, fair, festival or show — or if you already have and are in need of some financial support, consider applying for a low-cost loan through Start Up Loans UK.”
For more information about how to access loans and mentoring from Start Up Loans UK, visit the NMTF’s website at www.nmtf.co.uk, email projects@nmtf.co.uk or call 01226 749021.
     — join in its ninth year
including Victor the lion, freebies and much more!
The campaign has a reputation for success, and any market operator or local authority seeking ways of increasing awareness of the
operation should get involved. You can watch a short YouTube video by going to www.nmtf.co.uknmtf.co.uk/campai
gns-projects/making-markets- matter.html.
If you’re a trader — get your operator to join our Making Markets Matter campaign, which is heavily subsidised by the NMTF.
If you’re an operator — what are you waiting for?
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