P STORIES INNOVATORS Coleman
area of business that the Government has promised more support gital and healthcare sectors to see how they have been faring.
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es nd cal id: om ed as ire ity nts le- n I
AccessSolicitor.com
Founded in 2008 and launched in October 2012, the brand new website developed by digital marketing company LawPlayer offers a national multimedia directory for the legal sector.
Patrick Chaney, Founder of Disposable Medical Instruments
staff and hit a £1million turnover this year.
e wealth of financial and resource issues ssary audit trails needed when looking to e sector.
upply Chain, we had to spend over £6,000 required, before even being confirmed as sations don’t make extra allowances for much red tape, which can potentially spell he end he sold part of a property business his own money to get the business off the ice from paid consultants to help with the accountants.
e advice given was incorrect,” he says. verything, including product cleaning and nd suppliers, but it soon became apparent e this service to the UK market was too did it ourselves. Had I followed by own ds identifying suppliers around the world.”
uments.co.uk
Founder Warren Smith, a digital media lawyer, said: “Having recognised a weakness of the majority of UK solicitors in failing to market themselves effectively, and the digital marketing opportunities presented by rich media, my aim was to create to provide a marketing platform for independent legal providers.”
Warren Smith, Founder of
AccessSolicitor.com
The biggest challenge for Warren was a lack of income for over eight months. He ruled out the banks, which weren’t prepared to lend until the business was launched and revenues proven, while the business pre-launch was too small for private equity and VC to consider financing. In September 2009 he was introduced to the Envestors angel network and secured a £2,000 ‘Ready for Finance’ grant. From there he began the arduous and frustrating journey of pitching to angel investors, eventually securing seed funding in March 2012.
The business concept was conceived while Smith was living in the US and experiencing a more technology adoptive culture than in the UK. How did support for innovative start ups there compare with the UK?
He says: “From a cultural perspective the British tend to be more reserved than Americans so the success of entrepreneurs is not as highly praised. Banks in the US are more flexible and go beyond providing their own banking services. They network their customers to potential early-stage risk capital, for example potential angels and VCs, and this is just one of many good examples of how the UK banks fall short.”
What Warren wants to see more of in the way of help and support for start-ups is funding to support strong business planning skills and practical support in obtaining it. He adds: “There should also be greater transparency, coordination and organisation of the various business angel networks around the country.”
Information:
www.accesssolicitor.com 41 entrepreneurcountry
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