Make sure you’re adequately funded and appropriately advised.
Apprenticeship matching service GetMyFirstJob has recently doubled its headcount, and couldn’t have done it without funding. Managing director David Allison says the service, which helps young people get a foot on the career ladder, “tapped into a nationwide need”. The site took off quickly, but the firm initially only spent £75 on marketing in the first year.
Nesta’s impact investment fund, which makes money available to businesses having a positive impact on people’s lives, agreed to lend £500,000 in January 2015 to help the business grow the team, and its wider group of training providers, colleges and employers. More recently the business has attracted a further £1m, some from Nesta again, and the rest from City & Guilds.
To maximise these resources, GetMyFirstJob has sought professional help, from chartered accountants, media advisors and legal advisors. It has also appointed an external chairman, with extensive experience in high-growth companies. “[The chairman] has given us the confidence to grow the business in new and innovative ways,” Allison says. The company now manages over 30,000 apprentice applications each month.
To see the full article by the Guardian, please click here.