Our Senior Accountant John Farrell has teamed up with the
University of Chester to offer students valuable financial advice
to help kick start their business ideas.
John is working on the university's 'Venture 3' programme with scores of students at the Riverside Innovation Centre (RIC).
Venture 3 gives students the opportunity to 'Create' a business idea and 'Collaborate' with other business professionals to 'Accelerate' it into reality.
John has been using his financial and business background to help students test and improve their ideas as part of two drop in sessions named 'Accelerate' events, with the last one scheduled to take place in June.
Students have approached John with various ideas including retail outlets, V.I.P cinemas, breweries and unique drink container designs and have received his advice ranging from becoming a sole trader and forming a limited company to the top 10 things to expect from your accountant.
John also joined other business professionals in delivering a workshop, with his chosen topic highlighting the different tax issues to consider when starting up your own business.
In June, students will be given the opportunity to pitch for funding to kick start their business and/or free 'Acceleration' office space within the RIC, along with on-going bespoke business support.
Students and graduates can apply now to pitch to get to the acceleration stage in June, providing they meet the criteria, where they will face a judging panel.
John said: "I'm delighted to be involved in this project and it's been really interesting hearing the students speak about their different business ideas while helping them plan how to get them off the ground.
"I'm really looking forward to seeing which business ideas will successfully pitch for some well-earned office space at the RIC to help make their business dream a reality."
Kirsty Badrock, Innovation Enterprise Co-ordinator at the University of Chester, said: "We are extremely grateful for the support Ellis & Co has offered to the Venture 3 programme.
"The topics of tax, bookkeeping and accounts can be a daunting area for any new businesses.
"Having a professional on-hand to explain the basics and to provide tailored advice has been extremely valuable for our participants."