The British Business Bank’s Start Up Loans programme has helped over 320 entrepreneurs in Scotland with essential funding to help them out of unemployment or being economically inactive and launch their own small business ventures.
Since it began in 2012, the programme has delivered loans totalling £3 million for founders who were previously considered economically inactive or unemployed, supporting them to turn ideas into viable new businesses all over the country.
According to the most recent ONS figures, an estimated 133,000 people are unemployed in Scotland, equivalent to 4.9% of the working-age population[1]. Start Up Loans is committed to funding groups in society who would otherwise struggle to access finance, including those who are economically inactive, young and out of education, or post-retirement.
One founder to benefit from loan funding to start her business is Andreea Niculescu, who started a children’s partywear brand, Belladreea, in 2022. Andreea found herself out of work post-Covid, following a career in hospitality and after becoming a mum to baby Arabella. Struggling to find suitable high-street options for her daughter, she decided to launch an online store selling girls’ party dresses and other clothing.
A £10,000 Start Up Loan supported Andreea with initial set-up costs including purchasing stock, building the website and marketing. In just two years of trading, Belladreea has sold dresses to customers worldwide and hopes to grow the business to include a physical store in the future.
Andreea said: “The idea for the business all started when I became a mum two years ago. 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. I was born in Romania and have lived all over Europe which has undoubtedly influenced my taste in fashion, however, I saw a clear gap in the market for the style of party dresses that I wanted for Arabella.
“Since starting, the shop’s social media following is steadily increasing along with orders, and I have ambitions to grow even further. I recently launched a TikTok shop and, while getting to grips with a new platform, I have also recruited a number of social media brand ambassadors to help spread the word about Belladreea to more potential customers.
“For now, I am running Belladreea from my home in Rutherglen, but ideally would like to expand into a dedicated warehouse or shop in the future. Keeping up with consumer trends and habits is also a big focus, so I have recently been exploring ways to make the business more sustainable by using environmentally friendly recycled packaging for each order.”
Richard Bearman, Managing Director, 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. It is our firm belief that by providing access to finance, we are not only fostering innovation but also empowering individuals to create sustainable enterprises that contribute positively to our economy and society.
“The success of Belladreea to date is a testament to the potential that lies within under-served groups, and it is our privilege to help unlock this potential. Our dedication to inclusivity is plain to see, and we will continue to champion the dreams of aspiring entrepreneurs across the nation.”
[1] Source: Gov.uk
