Small businesses need more than financial support. With this in mind, Microfinance Ireland (MFI) has launched a new mentoring service.
The mentoring service will accompany the small loans MFI lends to businesses, whether they are starting or growing. The businesses must have 10 or fewer employees, however.
“While businesses constantly tell me that getting funding support for their business is very important, I believe our mentoring assistance is more critical to many new businesses,” says Garrett Stokes, CEO of Microfinance Ireland.
“Many business people are experts in their own sector, but they are weak in other areas such as finance, marketing and planning. Mentoring is another valuable aid to helping small businesses succeed.”
Go to your LEO for advice
The Microfinance Ireland mentoring service is delivered through the Local Enterprise Offices.
Microfinance Ireland, set up four years ago as a government funded, not-for-profit lender to help get more people starting businesses, has so far helped to create over 2,300 jobs.
Microfinance Ireland works in partnership with the network of Local Enterprise Offices and the Local Development Companies, to offer business loans to small businesses. Further information about the mentoring service is available on www.microfinanceireland.ie.