Business Plans Pitched to RBS Panel
Social entrepreneurs have been given the opportunity to pitch their business plans to an expert panel as part of an exciting collaboration between iSE and RBS.
The RBS business plan scrutiny panel offers budding entrepreneurs the chance to receive expert advice on their business plans from senior bank representatives.
The panel meet bi-monthly and offer their feedback on the style and content of the entrepreneurs pitch, the style of the business plan, the strategy, financial robustness and business idea. And although it may sound reminiscent of a ‘dragons den’, the RBS panel are keen to point out that they are in fact very friendly and intend to be a critical friend rather than foe.
In echo of the diversity found throughout the social business sector, RBS representatives have so far been presented with an interesting assortment of ventures from a car club to a cleaning company and a social enterprise set to reduce fuel poverty.
So far, social entrepreneurs have greatly benefited from the opportunity to pitch to the panel, commenting that it has helped them to see their business in a different light and has brought forward ideas they wouldn’t otherwise have thought of.
“They listened to my mission statement and gave me very constructive feedback.”Hamze Mohamed, Greencare Enterprise CIC
Sandra Green, director of Green Revolutions CIC who operate Co-Wheels car club said: “The panel were really encouraging and positive about what I’d done so far which was a great boost, but were also able to dig deeper and make useful suggestions to improve my pitch and strengthen my message to investors and customers. I have since made a pitch for funding. I would recommend this session to anyone starting up or intending to grow their social enterprise”.
It was extremely useful to have access to how banks think whilst looking at a business plan. Usually it is too late once you have handed your business plan over – so the ‘insiders view’ is invaluable. Thanks RBS! Heather Matuozzo, Clouds End CIC
Hamze Mohamed, director of new-start social enterprise Greencare Enterprise CIC which aims to tackle fuel poverty in the Somali Community said: “I was nervous at first but the panel put me at ease straightaway. They’re not patronizing like the Dragon’s Den, they listened to my mission statement and gave me very constructive feedback.”
As part of an ongoing collaboration between the bank and iSE, The panel will continue to offer their support to social entrepreneurs on a regular basis.
The panel is open to new start-ups and social entrepreneurs whose business plans are complete or ‘very nearly there’.