British Business Bank’s Start Up Loans programme reveals its 2024 Ambassador for the West Midlands

Ikigai, located in Leamington Spa, specialises in sourcing imported Japanese homeware items, yukata, and otaku products such as official Studio Ghibli merchandise.

Laura took out a £12,000 loan via Start Up Loans’ Business Support Partner, BizBritain, in early 2024. The finance helped her to purchase a company vehicle, develop a new website and further increase the inventory of items that are imported from Japan.

The annual Start Up Loans Ambassadors programme, now in its ninth year, celebrates inspiring UK business owners who have launched an enterprise using financing from the government-backed scheme. The Ambassadors have been selected as they demonstrate the resilience, creativity, and determination required to make a smaller business successful and to provide inspiration for entrepreneurs across the UK.

Laura Suominen, founder of Ikigai, commented: “The finance from the Start Up Loans programme has been a huge help in growing our business and supporting our ambition to bring Japanese culture and homeware to Leamington Spa. I run the business alongside my partner, James, and we’re proud to have been able to grow the business to a level which supports us both financially so we can work together on our shared passion.

“This wouldn’t have been possible without the support from Start Up Loans, so I am honoured to be chosen as the next West Midlands Ambassador. I hope we can continue to showcase the great work that can be achieved from a business idea and the support available to make it a reality.”

This year, in addition to 12 Ambassadors drawn from each of the UK’s Nations and regions, two more Ambassadors have been selected. These business owners represent two important groups supported by the programme, who may face challenges in accessing finance from elsewhere: one from the ex-Armed Forces community and the other from the Gen Z age group.

The 2024 Ambassadors will be introduced at a dedicated event in central London that marks the start of a year-long programme which will see the new Ambassadors take part in a series of local and national activities, helping inspire and encourage aspiring start-up founders to take the leap into business ownership.

Richard Bearman, Managing Director of Small Business Lending at the British Business Bank, said: “I am delighted to welcome Laura Suominen, founder of Ikigai as the new Ambassadors for the West Midlands. She has a business based on a passion she shares with her partner. The ability to turn a passion into a business with physical premises and cash flow is impressive and we’re delighted the finance and support of Start Up Loans has played a role in making this happen. We wish Laura and James all the best.”

Small Business Minister Gareth Thomas said: “Access to finance is crucial for SMEs to succeed, and the startup loan scheme is a lightning rod to that success. We know that when small businesses are given the tools to thrive, it leads to growth, more jobs and helps to boost the whole economy.”