How Winning This Is Money SME Prize Helped RateSwitch Double In Size

Our Great British Entrepreneur Challenge is ready to go. It offers start-up bosses a life-changing opportunity to win up to £50, 000 in seed financing and mentoring from a top angel trader Andy Yates. But don’t just take our word for it. Last year’s champion, Lee Flavin scooped the entire £50,000 to accelerate his business RateSwitch, which helps home loan owners find the best rates from their existing lenders – even if their family or financial circumstances have transformed.

While the money award provided an essential financial shot to the business enterprise, Flavin said the networking and mentoring opportunities offered by Yates were equally invaluable. Since winning your competition, the continuing business has doubled in size, has made new hires, and revamped its website. Flavin swept up with That is Money to go over how his business changed almost a 12 months after winning the task. 1. Why do you enter the Great British Entrepreneur Challenge?

I understood my mortgage switching business RateSwitch got much promise. It had been already which can save homeowners life changing levels of money on their mortgages, often within hours and even if their personal circumstances got changed. At the same time I realized I needed expert help and support to get RateSwitch to the next level and to help so many more homeowners. Like so many entrepreneurs, I have never run a continuing business before and I needed help from someone that acquired seen it, done it and realized what must be done to make it. Have you got a business idea?

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Who wants to be a successful entrepreneur? 2. How gets the mentoring and the seed investment helped your business? The seed funding has been fantastic, helping me to totally revamp the RateSwitch website and proposition to help all sorts of homeowners cut costs efficiently. It was important to highlight RateSwitch can help homeowners even if their income, family, or other circumstances had changed or they had specialist mortgages such as Help to Buy or Buy-to-Let.

But this is approximately a lot more than the money. Andy’s amazing advice, network, support, and encouragement have been completely invaluable and without him I wouldn’t have had the opportunity to attain what I have achieved. When I met Andy Yates within the short list process for the task, we clicked.

I knew we could work together well – which really is the most crucial thing for any business owner when they want for support and help. I had been so thrilled to discover that I had received. I understood that jointly we could take RateSwitch to new heights. The result of all this support – we’ve doubled the size of the business, taken on new staff and provided a genuine platform for a few exciting growth.

3. Did you have any concerns? My only concern was if Andy would have the time to really provide me with the proactive support and help. I needn’t have worried. Andy has always been there for me personally after I needed him – through the ups and downs of growing an effective business.

4. How ‘hands-on’ are Andy and his team? Andy has provided the right degree of help when I’ve needed it – which is fair to state him in addition has gone the excess mile for me personally. This has included practical day-to-day help and support predicated on all his connection with running and growing a successful business, through to key introductions and strategic input to get me really motoring. I could not have asked for more. 5. What business lessons perhaps you have learnt within the last is under Andy’s tutelage? To spend enough time focusing on the business not necessarily available.

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