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£5m in Start Up Loans delivered to Plymouth entrepreneurs

Press release 25 November 2025

The British Business Bank's Start Up Loans programme is marking a major milestone having delivered £5 million in funding to new businesses in Plymouth since the scheme began.

The latest data reveals that 572 start-ups in the city have received backing from the programme, with an average loan amount of £8,741. Start Up Loans, launched in 2012, provides government-backed fixed interest loans and mentoring to entrepreneurs across the UK.

The British Business Bank is the government's economic development bank dedicated to making finance markets work better for smaller businesses. Of the loans issued in Plymouth, almost 40% went to women, whereas only around 10% of women in the UK economy were early-stage entrepreneurs in 2023, according to the Global Entrepreneurship Monitoring (GEM) survey.

One example of a Plymouth-area female business owner supported by Start Up Loans is Jasmine Ruttledge. She used a Start Up Loan to launch The HandyWoman, a home repairs business.

Jasmine, 28, is used to being self-reliant after spending three years working as a builder. Despite facing many challenges in a male-dominated industry, she soon picked up the tools of the trade, taking on everything from constructing extensions, fitting kitchens and bathrooms, and installing new driveways.

Earlier this year, she decided to build her own business and established The HandyWoman. The service, which covers Plymouth and surrounding areas, is aimed at female and elderly customers who would prefer to have a woman working in their home for a variety of reasons, including past trauma.

Jasmine secured a £7,500 Start Up Loan through the British Business Bank’s partner GC Business Finance and the money has been used to buy tools, insurance and The HandyWoman’s distinctive pink uniforms and branding.

Since she launched in January, Jasmine has been working non-stop - her diary is often full three weeks in advance. So far, she has carried out a range of jobs, from putting up garden fencing to installing blinds and flooring, building furniture and repairing bathrooms.

Jasmine said: 

I wouldn’t have been able to do any of this without the Start Up Loans programme,

There was no way I would have been able to save that sort of money to buy tools so early on. It meant I could get started pretty much immediately.

Jasmine said she found the Start Up Loan application process straight-forward, especially with the help of the business plan template. She’s now hoping to tap into the free business mentoring available through the programme – as soon as she has some spare time.

Jasmine said: 

I’ve been so busy and every day there are new messages coming in.

I’m really enjoying running my own business and meeting new clients, And it’s been nice to see people’s reactions - particularly other women. I think it inspires them to be a bit more hands-on and not afraid of taking jobs on.

As her business grows, Jasmine is hoping to be able to hire another female worker.

Jasmine said:

That would be great. I don’t mind training them up, getting them on the tools and getting them going. It would be lovely to see other handywomen out there doing the same thing.

Another Plymouth woman taking her first steps in running her own business is Mihaela Cociuba who used a £20,000 Start Up Loan to invest in the South Devon franchise of wedding and event styling business Ambience Venue Styling UK, which has more than 40 franchisees across the UK.

Mihaela has plenty of experience in the hotel industry, organising conferences, team building exercises and other corporate events. She launched the franchise in February this year.

Mihaela found Start Up Loans on Google and was linked up with Start Up Loans advisor Suzy Lowe at SWIG Finance, which is the Start Up Loans programme’s Business Support Partner covering the South West.

Mihaela said: 

The Start Up Loans experience was even better than I expected.

I was scared I would have to spend hours on paperwork before being accepted or declined, but Suzy at SWIG explained every step of the way. I’m so grateful, and happy to tell others about Start Up Loans so they can benefit too.

Meanwhile Plymouth florist Hatty Joseph used a £10,000 Start Up Loan to launch her business, Ocean City Flowers. This allowed Hatty to pay six months’ rent upfront on her premises in a Stonehouse co-working space. A further £10,000 loan supported training in marketing and Google Ads.

Hatty said:

I could never have done this without the Start Up Loan and without the premises, the business could never have happened.

Instead of a shop front, Hatty opted for a workshop and said:

I was looking for enough space in a good location. Here, I can work on my own but have coffee with other people in the communal kitchen – and I reverse my car right up to the back door for loading up flowers.

Hatty found Start Up Loans while browsing the internet for inspiration. 

Hatty said:

I applied early one morning and the response came back very quickly. My business manager at SWIG Finance was very supportive and generous with her time, looking through all the details and figures, examining turnover and projections.

In the future, Hatty would like to invite would-be florists into her workshop for courses, from eight-week industry overviews to two-day deep-dives into specific skills from wrapping to wirework.

Hatty said:

So many people start out in floristry as a side business, like I did, and going full-time is a big commitment, so these courses are a great way to find out whether it’s really for you.

Suzy Lowe, Senior Start Up Loans manager for SWIG Finance, said: 

Every year we facilitate hundreds of Start Up Loans and signpost mentoring for new businesses across the South West. The Start Up Loans programme gives people the tools, funding and guidance they need to get their ideas off the ground and it’s hugely rewarding to see the positive impact of the programme in Plymouth and beyond.

Louise McCoy, Managing Director, Start Up Loans Products at the British Business Bank, said: 

It’s fantastic to see how the Start Up Loans programme has helped hundreds of people in Plymouth turn their business ideas into reality. Reaching £5 million in lending is a real milestone, and it reflects the energy and ambition of the city’s start-up community. Entrepreneurs like Jasmine, Mihaela and Hatty are a real inspiration and we’re proud to play a part in helping people from all backgrounds take their first steps into business.

The Government recently announced a £1 billion expansion of the Start Up Loans programme as part of its 'Backing Your Business' small business plan. Based on internal estimates, the expansion of the programme could contribute approximately £1.3bn in additional UK economic output, generate an additional £3.1bn of turnover and create an additional 12,600 jobs over the life of the finance.

Further Information

If you are a journalist and have a media enquiry, please contact mediaenquiries@british-business-bank.co.uk.

Notes to editors

About Start Up Loans

The Start Up Loans programme provides personal loans for business purposes of up to £25,000 at a fixed interest rate per annum and offers free dedicated mentoring and support to each business.

The primary aim of the Start Up Loans programme is to ensure that viable start-ups and early-stage businesses have access to the finance and support they need in order to thrive. A network of Business Support Partner organisations supports applicants in all regions and industries throughout the UK. The Start Up Loans programme is not designed to generate a commercial profit. Capital payments together with the interest are recycled to help meet increasing demands for finance.

Free guides on a range of subjects related to starting a business are available on the Start Up Loans website. You can find recent media press releases here.

The funding for the Start Up Loans programme is provided by the Department for Business and Trade (DBT). The Start Up Loans programme is operated by The Start-Up Loans Company, a company limited by guarantee, registered in England and Wales, registration number 08117656, registered office at Steel City House, West Street, Sheffield, S1 2GQ.  The Start-Up Loans Company is a wholly owned subsidiary of British Business Bank plc which is a development bank wholly owned by HM Government. British Business Bank plc and its subsidiaries are not banking institutions and do not operate as such. With the exception of BBB Investment Services Limited they are not authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority. BBB Investment Services Limited is authorised and regulated by the Financial Conduct Authority. A complete legal structure chart for the group can be found at British Business Bank.

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