Mentoring can be 'invaluable' to small businesses

Date: 21st October 2008

Global economic panic has seen a surge in the number of requests for business mentoring, according to new research.

The online mentoring service Horsemouth has noted a 200 per cent rise in business related searches, while yell.com has also registered a 116 per cent increase in queries over mentoring, support and advice over the last three months.

It is not uncommon for recently formed start-ups to struggle with a number of business elements, such as accounting and taxation.

The founder of mydeco.com and co-founder of lastminute.com, Brent Hoberman, said: "A positive mentoring relationship can be invaluable to small businesses, especially new start-ups.

"It can help you avoid making mistakes, grow your confidence and build trust in your instincts."

The research was conducted in conjunction with the Yell Mentoring Work Awards, which celebrates the work done by mentors to help new business start-ups.

A recent poll by BT Business discovered that small firms in London were riding out the economic storm particularly well.