NEW START // ISSUE 6 // 21

GIRLS ALOUD CHERYL COLE

Having spotted the huge opportunity to bring Fake Bake to the UK, McClumpha sold her nail salon to raise funding. Describing her efforts to raise additional cash as ‘absolutely impossible’, she advises new start companies to look towards angel funders and private investors.

SANDRA SAID: ‘I would definitely steer clear of the banks; we wasted a lot of time with the banks and you don’t have time to waste waiting for an answer.

FAKE BAKE HAS ENJOYED

TREMENDOUS SUCCESS WITH THE ENGLAND SOCCER WAGS AND

CELEBRITIES SUCH AS POP BAND GIRLS ALOUD.

‘The traditional way of starting up a new business is difficult because you are really trying to sell a dream of what your plan is, but it’s all in your head and you don’t have many facts. The current financial climate has caused problems because the days of going to banks to get the money is all over. However, if you are trying to gain support there are a lot of investment companies out there that are looking to invest in

good businesses - individuals and private investors can give you the answer.’

McClumpha believes that entrepreneurialism is something people are born with – something the government doesn’t understand.

SANDRA SAID: ‘Small businesses are not getting looked after and it’s totally unfair that the government are bailing out all these banks who have made fundamental mistakes.

‘I don’t think that entrepreneurialism is getting encouraged in any shape or form. What has to be stopped is the negativity that is surrounding the whole country. It doesn’t matter if you have the best idea in the world; it can be dampened by the doom and gloom round about. A positive mental attitude from everybody will hopefully get the company back on its feet again.’