Come in, pull up a chair and welcome to the Hugoversity Common Room.

Here you’ll find our prefects – and the occasional special guest – chatting about all the burning issues of the day; think of them as the coolest sixth form teachers you had. 

Each month, we’ll upload the Common Room video onto our IGTV at @hugoversity to share what we’ve learnt so you can get some extra-curricular Brownie points.

For the first session, prefects Natalie and Elisha were joined by Shak Asghar, Chief Nudl at funding consultancy Nudl to talk about all things finance – a cause very close to many businesses’ hearts after the past 18 months.

However, the keen students started with the most important question: what are your favourite school memories?

Shak revealed: “I loved school, really enjoyed it; I have very fond memories from Kings Manor School, in Middlesbrough, which sadly no longer exists.

“I always remember one teacher, Gary Ferguson, who would always go out of his way to allow us to come in early and late to play basketball – it’s those small things that really make a big impact.”

After that trip down memory lane, it was time to get to the main subject; how Shak and the Nudl team are putting the fun into funding.

With business owners across the country facing some tough challenges throughout the pandemic, there has been some positive news, with plenty of companies still growing or even starting out.

Shak said: “It’s been a very tough 18 months, which has sadly impacted a lot of companies.

“However, what’s been nice to see has been that many opportunities have emerged from this difficult time and lots of companies are still growing.”

And for those businesses that are growing, Nudl’s mission is to help them get the funding they are entitled to.

Shak added: “We’ve been involved in funding for the last 15 or so years and over that time, we’ve been able to see that it’s difficult to navigate the funding landscape.

“Nudl was always a thought in the back of our mind but the timing felt right now, to give that support to businesses out there that are looking to grow, and also the businesses that have emerged from the pandemic.

“Hopefully we can help them through the process and get them the money they need to invest in what they need to grow, whether that’s a piece of kit or marketing and PR services.

“There is a lot of money in the marketplace for all types of reasons so, if you’re a business owner, I’d encourage you to get out there and find out what’s available.”

The prefects were keen to find out more about the funding process and how Shak and the rest of the Nudl team can help it run smoother- and boost applicants’ chance of success.

Shak explained: “Funding applications can seem daunting and time-consuming, and what we’re trying to do with Nudl is to strip it back a bit, be a bit more relaxed.

“Our approach is to encourage people to get in touch however they think is best for them, through social media or over the phone.

“Yes, there are lots of rules and formalities around securing funding and what you can spend it on, and the application process itself can vary, but there are people to help walk you through.

If you came to us at Nudl, we’d explain the specific funds you were eligible for and that would fit the project you were talking about, talk  you through process without the jargon out and explain how it would benefit your business.

“We’d then walk you through our process, explain how we’re going to get you from A to B and then, after submission, advise you on how to effectively draw the money that you’ve been awarded down.”

While many businesses need funding to pay for equipment or premises, plenty more look to use funds to upskill their existing workforce.

Research shows that 94 per cent of employees stay longer if a company invests in training and, after a year of upheaval, now is the perfect time to learn something new.

Shak added: “Investing in your own staff is a brilliant option, and it’s even better if you can claim funding for it.

“Here on Teesside, the intervention rate is 55 per cent, so that means you can be subsidized for more than half the cost of any training your team does undertake.” If you’ve received a grant and are looking to spend it on training your team in the art of PR and marketing, throw us a bone on 01325 486666 or email study@hugoversity.com