Back for Business 5 Outcomes
The Back for Business 5 cycle ran from February to June 2022. Thirty-eight early stage entrepreneurs completed the programme.
The following are the positive results that have been collated from the thirty-four Back for Business 5 participants who completed an end of cycle survey.
- At the start of the cycle, 47% were pre-revenue. Over the course of the programme a further seven began to trade. At the end of the cycle almost three quarters were trading (74%) with remainder of the participants expect to be trading by the end of the year.
- By the end of the cycle, the combined turnover of the group had increased from €1.5million to €3.1million and there were 32 more employees.
- One of the advantages of time spent out of Ireland is contacts developed internationally. At the start of Back for Business eight of the participants already had some export sales. There were a further six first time exporters over the course of the cycle. The strong export orientation is evident with the majority expecting to have customers in export markets in three years time.
The participants in Back for Business 5 were very positive in their end of cycle feedback. 100% would recommend the programme to others and 100% would like to stay in contact with the initiative. In terms of their overall experience, participants rated it 4.7 out of a possible 5, with 97% considering the experience either extremely positive or very positive. 94% felt nearer to achieving their ambitions since participating in Back for Business.