Members comment on NatWest’s plans for free ‘entrepreneur hubs’
A member of the UK200Group of independent chartered accountancy and lawyer firms has commented on NatWest’s announcement that it is to launch a network of free business accelerator hubs across the UK to support up to 7,000 entrepreneurs over the next five years. Alison Rose, CEO of commercial and private banking at NatWest, said that potential entrepreneurs in the UK were “held back by a lack of knowledge.”
Jonathan Russell, partner at UK200Group member firm ReesRussell, said: “There is absolutely no lack of resources available to potential entrepreneurs and much of this is free or at much lower cost than many imagine. Many local accountants offer such initial free support.
“A major problem is that much of the government support and the type of hub suggested by NatWest is, in fairness, delivered by people who have little true knowledge and experience of being in or running a small business. They may well have been ‘trained’ but there is no substitute for experience.
“Most local firms of accountants are small businesses in their own right and can fully appreciate the problems of a small business both from direct personal experience and from dealing with hundreds of small business clients.”