The benefits of business mentoring

Business mentoring and other types of advice

Using a business mentor is one way of helping you make the right decisions for your business, but there are other forms of support you could consider. These include:

  • coaching
  • peer mentoring and peer learning alliances
  • networking
  • professional advice

Coaching

Specific short-term business issues can be addressed through coaching which has similar elements as mentoring. There are many organisations that offer coaching services.

Peer mentoring and peer learning alliances

You can also get help or advice from other people in a similar situation, such as people of a similar age or background. When setting up a business, this is likely to involve contacting someone who is also trying to set up a business and faces similar issues. Like business mentoring, this can be as formal or informal as you like.

Networking

The wider world of networking allows you to meet a range of business people. You can do this at a local level - by talking to other business people in your area - or at a much broader level, eg through social networking websites and professional networks such as LinkedIn, Plaxo and Ecademy.

Sources of information about local networking groups or meetings are available from your local Chamber of Commerce, business advisers or trade associations. There are also Business Collaboration Networks - part of a range of support offered through the government's Solutions for Business portfolio. Solutions for Business is a package of products and services designed to help businesses start, grow and succeed.

For links to Solutions for Business advice and support, see our Solutions for Business portfolio.

Search our business support finder for grants, loans, expertise and advice for which your business may be eligible.

Professional advice

For tax and legal issues, it is important to seek professional advice. See our guides on how to choose and work with an accountant and choose and work with a solicitor.

Subjects covered in this guide


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