The Guernsey Enterprise Agency operates a formal Mentoring Scheme which utilises the skills and experience of retired or semi-retired business men and women who have the desire to help start-up and existing businesses. The Mentors are a resource to start-up and existing businesses in need of specific support, knowledge and possibly investment. Details of our current Mentors are set out below.

What is a Mentor Scheme? 

The Mentor scheme itself is designed to provide new or existing businesses with a mentor, probably a retired or semi-retired professional, who can provide advice and support for the business. The mentors come from a variety of backgrounds and provide advice and support based on their own skill sets.

The Mentor scheme provides benefits in two ways. It provides a valuable source of advice and support for the business owner but it also provides the Mentor with what he or she might be seeking, which could be anything from wanting to give something back to the community or a wish to keep involved in business.

The Mentor scheme for Guernsey

The Mentors work with Guernsey businesses seeking support, on their own terms. The arrangement between the Mentor and the Client is agreed by both parties with the GEA simply acting as a facilitator and introduction agency.

To achieve this, the GEA promotes the scheme and makes the introductions. The initial meeting is for an hour and from there it is up to the two parties to decide how they wish to proceed. If there is the right chemistry and a belief that they can both benefit from an ongoing relationship then the GEA, if required , can help formulate how the relationship will develop and what formalities are required. 

Promoting the Scheme

 The scheme is promoted through the media in a way which is designed to attract interest from potential Mentors. Each will be interviewed by the GEA team to establish what the Mentor would like to achieve from being a Mentor and what skill sets they can bring to the scheme. Those Mentors will be noted in a Register and be available to meet companies wishing to “employ” the services of a Mentor to help their business. 

How Introductions are made

 As with all introduction agencies, the idea is to make a “good match” in terms of what the business is seeking to achieve matched to the skills and experience of the Mentors we have on our books.

The first meeting is designed to see if the two parties are a good match and could possibly go forward, achieving what both parties were seeking to achieve. It may be that a member of the GEA team would be present for the first part of that meeting, facilitating the introduction, agreeing what the two parties should be seeking to achieve and then leaving them to discuss the particular business issues they wish to address.

Both parties would then be asked to report back to see if they were a possible match. If we receive two positives, an agreement could then be negotiated between the two parties, beyond the auspices of the GEA. To that end a  Mentor Service Agreement will be signed to ensure both parties are completely aware that the agreement they are entering into is between them and nothing to do with the GEA.

The Mentors Commitment

 Each Mentor who joins the scheme will need to be aware of their responsibilities and what is expected of them.

Availability to meet potential businesses will be a key issue as will the need to maintain confidentiality. When the type of business is explained to a Mentor it would be appreciated if they would make an initial decision as regards whether that type of business would be of interest to avoid wasting the time of the business owner.

Beyond the first introduction, Mentor’s might expect to receive a fee. They might also be offered the chance to become part of the business, either as a non-executive director or even an investor. Whatever path they choose, that will be their decision and not that of the GEA. While we may be prepared to offer advice as regards any potential agreement, the final decision will remain with the two parties involved.

The Mentor Service Agreement will stipulate this and both parties will be required to sign to that effect if they agree to proceed with a business arrangement.

Click here to download the Mentor Service Agreement.