US success to offer UK bursaries

A CHARITABLE foundation aimed at supporting small businesses and entrepreneurs too old for youth unemployment schemes is to be set up later this year by a US businesswoman now resident in the UK.

The foundation is being established by Marisha Romer, 29-year-old managing director of Romerco, a management consultancy with clients in the catering industry.

As a young entrepreneur, Miss Romer started and later sold a successful knitwear company in the USA.

Now she is keen to pass on her skills and experience as well as give a helping hand to other entrepreneurs.

Initial funding of £10,000 for the foundation will come from the proceeds of the sale of Miss Romer's first company, and another 5% of Romerco's profits will flow into the foundation.

Miss Romer told Caterer that the few organisations designed to help start businesses had strict criteria which rule out anybody who has not been unemployed for several years or who is still quite young.

The Romer Foundation will offer support in form of grants, bursaries or management advice to people aged 28 or older. Miss Romer said there would be no requirement for "physical, social or economically disadvantaged" status.

A shortcoming of other charitable organisations is, according to Miss Romer, that the grants on offer are too small. A maximum grant of £1,200 is hardly enough to buy even a computer, a basic business tool these days.

"I want to start off in a small way, granting three or four bursaries a year of around £5,000 each. Successful beneficiaries will be expected to put a percentage of their profits back into the foundation," she said.