Laura Suominen, the founder of Ikigai, an eco-conscious and Japanese-inspired homeware store, has today been announced alongside 14 other businesses as the Start Up Loans’ 2024 Ambassadors. Ikigai, located in Leamington Spa, specialises in sourcing Japanese imported 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 cashflow 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.”

Since its inception, the Start Up Loans programme has delivered more than 115,000 loans to business owners across the UK, amounting to more than £1.1bn of funding. Of those loans, 40% of loan recipients have been women and 20% from Black, Asian, and Other Minority Ethnic backgrounds (not including White Minorities).

Through a network of business support partner organisations, the Start Up Loans programme provides:
● access to pre-and-post loan support to help applicants to develop a business plan
● fixed-interest first and second loans of up to £25,000 to help recipients to start or grow their business
● mentoring support to help loan recipients with everything from cash flow to marketing.

As an official Business Support Partner for the British Business Bank’s Start Up Loan programme, BizBritain operates within a network of business support partners, delivering Start Up Loans in the range of £500 to £25,000 across the Midlands.