Frequently Asked Questions

1. What is the Veteran Tycoon Enterprise Programme?

It offers Service Leavers and Veterans who are aged 30 and under, the opportunity to experience self-employment.

  • The programme lasts for 12-weeks and a guaranteed, no-risk start-up loan of up to £250 is provided.

There will be:

  • A one-day classroom-based workshop at the beginning to develop the skills to write a business plan
  • Mentoring during the trading period
  • A further classroom-based reflection day at the end to explore the results and to look at your next steps.
  • The programme also provides access to a series of online resources to support your startup journey.

Sage Foundation, Peter Jones Foundation and X-Forces Enterprise collaborated to deliver a pilot programme to introduce the concept of entrepreneurship to military and ex-military personnel.

 

This was successful so we are launching a revised version of the programme called a side hustle which will be delivered over three courses in 2019 and 20.

A side hustle is an enterprise activity that anyone can run alongside their primary job or focus. Primarily these are passion projects, where someone is developing an idea, product or service in their spare time in a field that they are interested in. They can be monetised, but don’t need to be. They should be enjoyable, even if they are hard work!

Yes, we have worked closely with CTP on this and the pilot programme, and they are fully supportive of our plans to support military entrepreneurs.

Military personnel who are in their transition period, and veterans who are aged 30 and under.

People who are 30 or under meet the Peter Jones Foundation definition of young people. Priority will be given to those who meet the age criteria but in the unlikely event the course is undersubscribed, over-age personnel will be considered.

The initial workshop on Day 1 and the final workshop at the end of week 12, will take place in The Shard, at the London HQ of Sage. The remainder of the programme will be home-based.

X-Forces Enterprise – the leading organisation in the UK for enterprise in the military community and experts in their field. Sage is a corporate partner of X-Forces and has collaborated on other initiatives to support military entrepreneurs.

25 Nov 19 – 21 Feb 20
9 Mar 20 – 29 May 20
22 Jun 20 – 11 Sep 20

Each course capacity is 10, this is so we can afford each student sufficient contact time with their business mentors throughout the programme.

No, reasonable receipted travel costs to the training venue will be met by Sage. Travel needs to be via the most economical route and pre-booked in advance to achieve the best price in accordance with the Sage Travel Policy.

A laptop or tablet will be required and access to a dedicated digital platform will be provided during your participation on the scheme. A smartphone will also work but the reduced screen size makes it more difficult to work with.

Yes, we will ask you think about a business idea and produce some information based on that. Examples of this will be provided and don’t worry if you don’t have any specific thoughts on a business idea at this stage. Think about a product, it could be anything. Consider how will you buy the materials, how you will promote your product and ultimately how you will sell the product to turn a profit. You will be asked to complete this questionnaire when you are registering.

There are formal group days on the first and final days of the 12 weeks, you need to plan to be at those. There will be weekly touch points with X-Forces mentors to discuss progress, and you manage your own activity at home to suit your circumstances in the times between. The guiding principle is that the more effort you put in the more benefit you will get out.

No, a startup capital loan of circa £250, will be provided to support your idea.

No, there is no obligation for you to continue with the scheme if you decide it is not for you.

If you make a loss, we ask that you pay back what you can, and the programme will absorb the balance. The trading window is the 12-week duration of the course, but this can be extended on a case-by-case basis.

If you break even, or make a profit, we ask that the original loan is paid back so that it can be reinvested for future courses. If you’d like to make a donation back to the programme from any profits, it would be gratefully received but there is no expectation or obligation to do so.

We will support you in your next steps as appropriate, which may be signposting to organisations or programmes aimed specifically at ex-military or transitioning personnel. A CV and interview workshop will help you reflect on the skills you have acquired and how they may be applied to potential job roles.

There are four options, you can:

  • Continue with your side hustle at your own pace
  • Develop your business idea through to startup with X-Forces Enterprise
  • Continue your business education with a Peter Jones Enterprise Academy course, or similar
  • Embark on an alternative employment route

No, your ideas are your intellectual property and will be treated as such by the Peter Jones Foundation, X-Forces Enterprise and Sage.

No, there are no plans to extend the scheme to spouses at this stage.

Click the Apply Here button. This will take you to an X-Forces Eventbrite page for you to register your details. X-Forces Enterprise are administering the programme. They will make contact with you in the first instance.

Come along to the programme launch event at the Union Jack Club, Sandell Street, Lambeth, London, SE1 8UJ on Mon 4 November 2019, from 15:00-17:00. You will hear more about the programme from graduates of the pilot programme and other entrepreneurs.

To reserve your place, contact kevin.doyle@sage.com but please note that places for the launch event are very limited. If you have already registered, you are also welcome to come along to learn more.

The Sage Foundation Channel Manager, and RAF veteran, Kevin Doyle – kevin.doyle@sage.com