Are you looking to kick start your business, gain the funding that you desperately need to expand (or simply survive), and inject a dramatic new purpose into your career – and your life in general? Accelerator programs are the answer that you may be looking for. Aimed at start- up entrepreneurs who have fantastic ideas but who may be lacking in funds and/ or experience, firms offering Acceleration Programs are dramatically increasing in number year on year.

Barclays is one of an increasingly larger number of corporate giants and multinational firms who are launching their own Accelerator programs, partnered with Techstars, a well known leader in the industry.

Can an Accelerator Program help you and your Fintech business survive and thrive? Read ahead to learn more about these groundbreaking firms and find out if this is a viable and attractive option for you and your business.

What is an Accelerator Program?

Accelerator Programs are taking the business and financial world by storm, with countless organisations springing up and promising a huge, rapid boost for your business. Originally geared more towards start up culture and young entrepreneurs, Accelerator firms can offer their clients an opportunity to network, learn new skills, access to new customers and markets, and most importantly – they can help them to acquire the funding that they need to take their idea to the next level.

In December of 2014, The Telegraph assessed that there were 36 accelerator and/ or incubator programs across the UK, with the vast majority (over two thirds) based in London. Most are located in the so-called ‘Silicon Roundabout’ at Old Street station, home to over 1500 start ups and tech firms. It is important to remember that this number pales in comparison to the Accelerator programs in the United States, with numbers in the thousands (here is an interesting link to the top 20 American Accelerator Programs in 2015). Approximately 40 % of these programs are private enterprises, and over 25 % are run by academic institutions.

The most successful and famous US Accelerator firm is Y Combinator. This illustrious company has invested in more than 1000 start-ups, and their most successful past clients are Dropbox and Airbnb, companies that are worth more than 30 billion US dollars. This is clearly something worth looking into!

What are the Benefits of An Accelerator Program?

These firms can help young companies in their early stages of development to grow, flourish and learn. They often provide seed money and leadership, and research has shown that start-ups that qualify for and secure a place on an accelerator program are more likely to do well in the long term, with higher rates of success than businesses who do not engage in such a program. Money, success, investment possibilities, mentorship opportunities and new skills – these programs have myriad benefits; if you are small business owner or a young start up entrepreneur, it is worth looking into any accelerator programs you might qualify for.

From Start-Ups to FinTech?

At this point you might be wondering what all of these accelerator programs aimed at tech firms and young, kooky app companies has to do with you and the field of Financial Technologies. The answer may surprise you – more often, accelerator companies are branching out beyond the industries that they traditionally supported and taking an interest in other sectors. Restaurants, healthcare, fashion, and banking are all experiencing a surge in corporate- run accelerators, and Microsoft, Telefonica and Barclays are all offering similar programs.

Barclays Accelerator Program for Fintechs

Banking giant Barclays has entered the Accelerator ring with their new program, aimed at Fintechs (Financial technicians). While this program is officially linked with Barclays, it is actually offered by Techstars, “a global eco system that helps entrepreneurs build great businesses.” This is quite an advantageous partnership, as Techstars has years of experience in the industry, while Barclays has heaps of capital and a global reputation for banking excellence over the past 300 years across over fifty countries.

The Barclays Accelerator (Powered by Techstars) is a three month program billed as an ‘intensive start-up accelerator,’ that focuses on “financial technology innovation and disruptive solutions.” This program is currently being offered in London, New York, Capetown and Tel Aviv (although applications are currently closed), with plans to expand further in the near future. They allow between six and ten teams to participate at any given time, and this includes the potential for up to 120,000 US dollars per team.

Now that the program has been operating and thriving for over two years, success stories are starting to emerge from early Barclays Accelerator Alumni. From Squirrel, an app that helps lower income individuals save money and make ends meet, to Gust, a wristband/ app that helps people avoid long queues by using Bluetooth technology and information from past trends – these are interesting and successful companies that have benefited greatly from their affiliation with Barclay’s Fintech.

The Future of Accelerator Programs

It is safe to say that this trend is not going anywhere any time soon – Accelerator programs have been so successful and so ‘buzzed about’ in the media that it is certain that they will continue to expand. We can expect to see this model move from hardware and Fintech to ever more diverse industries. Experts are also predicting that more and more of the investment capital will come from crowdfunding sources, a way to spread the risk across a vast pool of people and create loyal users before the product or app is even completed.

Is one of Barclays Accelerator Program for Fintechs of interest to you? Keep an eye on their site to determine when new submissions will be accepted and start planning your application now.

In today’s world of e-commerce, many entrepreneurs are understandably highly focused on promoting and marketing their products online. Sites such as Etsy, Amazon, and Ebay are just some of the big names in e-commerce, places where small business people can sell their wares, from taxidermy and homemade preserves to bespoke jewelry and high end craftsman furniture. No matter what it is that you sell, if your product is interesting and well made you are sure to find willing buyers for your unique products in many places on the World Wide Web.

With that said, many small business owners are overlooking traditionally lucrative offline markets in favour of solely focusing on internet shopping. This is a mistake – there are still plenty of very beneficial ‘brick and mortar’ solutions that can help you to reach your sales targets for the quarter and the year. Here is a list of ten fantastic places where you can sell your products offline.

1. Create a Buzz with a Pop Up Shop – Pop Up Shops are a huge trend in cities around the world, popular for their ability to create a buzz and a sense of excitement around your product and your brand. You can create a shop within a shop, open your own kiosk or even make a mobile pop up, a’ la the food truck. Pop up shoppers are looking for a unique experience, so make sure that your temporary shop truly represents your brand story. As the Economist recently pointed out, “the pop-up industry has grown to approximately $10 billion in sales,” proving that this is no fleeting trend.
2. Take advantage of events and festivals – Large scale events, such as festivals, concerts, festive celebrations, and street parties can be the perfect place to setup a booth and sell your wares. People are usually in a fun and lighthearted mood at these events, and are often looking to purchase a special souvenir or keepsake to remember their experience. If you plan to sell your products at a festival or event, make sure that your brand is aligned with the demographic who will be present.
3. Hire a Stall at a Market – Many retail success stories have started with a stall in a market – even the retail giant Marks and Spencer began as a wee booth at a Leeds market! This environment offers you a small table that you can call your own at which you can sell your products and interact with your clientele on a one to one basis. There are markets of all kinds across the entirety of the UK – here is a valuable list that will help you locate all of the markets in your vicinity and across the country.
4. Be available for home parties – There is a reason why the phrase “Tupperware party “ has entered into the common lexicon! Selling your products at dedicated parties (or even alongside other traders) can be a hugely successful strategy. Parties offer you a captive clientele, and you can build relationships and customer loyalty by offering demonstrations and discounts. This will obviously work better with some products more than others, but if you think that your goods are suited to a party environment, here is a handy link to help you get started.
5. Take part in Etsy ‘Made Local’ events – Online arts and crafts giant Etsy knows the value of offline sales; that is why they regularly host large craft events and “Made Local” sales featuring the vendors who sell goods on their site. If you are already an Etsy trader, make sure you snag a table at their next craft market or event.
6. Do not underestimate the allure of a Carboot sale – Ah, the humble carboot. While you may write this off as an inappropriate or non glamourous place to sell your products, just remember: people are gathering each week in locales across the country, and they are looking for new, unique and well priced items. While this will be better suited to some sellers more than others, if your product has a vintage or antiques feel, you will find buyers at a carboot.
7. Give Mail Order a try – While you may view this method of reaching your customers as antiquated or irrelevant, this is simply not the case. Millions of people continue to shop via mail order catalogue, and even those who elect to place their orders online are more likely to spend more per transaction after leafing through a physical catalogue. Here are some great tips on how you can start your own mail order catalogue business in order to sell your product.
8. Secure a place at a trade show – Depending on your industry, a trade show can be the perfect place to reach new buyers, especially those with clout and power. If your product has an environmental spin, make sure you sign up to Eco-Fairs or Green Home Events; if your product can be considered useful for the home, make sure you have a presence at every ‘home and garden show’ that occurs in your area each year.
9. Give samples and free products to events for swag bags and prizes – If you are a small business owner, you undoubtedly have a target demographic in mind. Consider the types of events, awards shows and parties that these people will be attending, and contact the organisers with an offer of free goods to fill swag bags and give away as prizes. This will get your products into the hands of the people who you want to reach the most, and will hopefully lead to repeat sales.
10. Sponsor a local team – By sponsoring a local team, event or charitable engagement, you can get your name out there in a very meaningful and tangible way. Those who you sponsor will be very likely to reach out to you when they need to make a purchase, rather than hopping online or going to a competitor.