smallbusiness.co.uk: Helping your business think big

No safety net

Whereas some financial institutions may get bailed out by a...
Have your say »

RSS

Rising star: Piers Daniell

Jul 23 2008

Still only 26, Piers Daniell has taken internet service provider Fluidata from the confines of his bedroom to a £2 million business in the space of two years

How far can you go?

Acquisitions during a recession are better than when the market is at its peak. If you get the right story behind you, then if you look to do a float in five years time you have the momentum behind you.

Is cash king?

We’ve expanded tremendously. Being cash positive is unusual in our industry as it’s not something people normally focus on. For me, it was vital.

Are business angels friends or foes?

We got £250,000 and we bought the investors out within the year as they didn’t understand our business properly. I could see it causing a problem in the future as we wouldn’t be able to push the company forward.

What are you bad at?

Delegation is a problem and I find it difficult switching off. Balancing life away from work is tough as well – I work long hours.

Does the downturn scare you?

We’re looking for much greater growth in the recession, if there is going to be one. Hopefully people will be reviewing their situation, moving their offices and downsizing.

Comments

There are currently no comments on this article

Prize Draw

Enter our prize draw!!

You've probably noticed smallbusiness.co.uk has a brand new look. You can personalise the homepage to suit your needs and there's lots of new content including video, blogs and the small business resource centre.

We're interested to know what you think about the new small business site, so we'd like you to take this opportunity to have your say. All entrants will be entered into our free prize draw to win a bottle of champagne provided by our partners at Laithwaites! Enter here

Polls

Latest Don't Miss

Start-ups and universities

The UK is world-class when it comes to science and innovations. Increasingly, these great ideas are being turned into commercial reality

Business loans for starting up abroad

There is no reason in principle you cannot finance the purchase of an overseas business in the UK. The Business Banking Code says that before a bank lends you any money, they will assess whether they feel that you will be able to repay it.

Learning the language

Like it or not, setting up business abroad in all probability means you will have to learn the local language to a reasonable standard in order to have a decent shot at success. Just filling in tax and registration forms can require a fluent speaker, let alone actually doing business.

Being tax savvy

When it comes to relocating and setting up a business overseas, there are a multitude of issues that have to be considered. Getting your tax position in order pre-departure should be high on your list of priorities.

Setting up business in France

For many Britons, France is the obvious choice to start a business, given its proximity, excellent transport links with the UK and the fact that many UK expatriates are located over the Channel, meaning a potential ready-made British market awaits. However, there are several things to bear in mind before you book your Eurostar ticket.

10 tips to help launch your business

Many people think of making a new start by setting up in business for themselves, but are not sure where to begin and so never do. Check out these top tips to get a better idea of what you need to do to get started.

The franchise safety net

If you don’t have the necessary experience starting a business alone, your best bet could be to take advantage of the support that a franchise network offers. To find out what it takes, SmallBusiness.co.uk spoke to a franchisee and asked why he chose to go down that route.

Podcast: The Franchise Show

The Franchise Show is a monthly podcast featuring industry news, interviews and how-to guides. With contributions from franchisors, franchise bankers, lawyers and consultants.

Women suited to franchising

Nearly half of the UK’s franchisees are now solely or jointly female-operated, which does not surprise Cathryn Hayes, Head of Franchising for HSBC Bank, who believes franchising is a business model that particularly suits women.

Take your time selecting a franchise

Most people have heard of the phrase ‘marry in haste repent at leisure’. Well this is also appropriate in the world of franchising. A decision to purchase a franchise is not to be rushed into, as there are many aspects to investigate, questions to be asked and professionals to consult.

Watch out for the hidden costs of franchising!

In addition to an initial franchise fee and ongoing service fee, there may be other, less obvious costs associated with setting up a franchise, all of which must be taken into account when arranging funding for your business

News

Closing of energywatch 'will affect small businesses'

The Federation of Small Businesses (FSB) has stated many companies will not know where to turn following the closure of energywatch.

New regulations 'will hamper small businesses'

The volume of new legislation being brought in will cost small businesses money to deal with and may overwhelm some firms, an industry body states.

Nation gets rich on diverse business

The UK is getting richer as more people look for diverse ways to use their skills, resulting in a wider variety of companies.

Store

FT Guide to Personal Tax

Formerly the Lloyds TSB Tax Guide, the FT Guide to Personal Tax is now published by Pearson Education. Written by Sara Williams, CEO of Vitesse Media Plc and Jonquil Lowe, this unique guide gives step-by-step advice to completing your tax return as well as 100 tax-saving tips.

FT Guide to Business Start Up

Formerly the Lloyds TSB Small Business Guide, the FT Guide to Business Start Up is now published by Pearson Education. Written by Sara Williams, CEO of Vitesse Media Plc, this unique guide has sold over two million copies. It offers practical advice about starting and running your own business.

Growth Company Investor

Growth Company Investor is widely recognised as the leading magazine for investors interested in AIM and smallcap companies. Published 10 times per year, and brought to you by an award-winning analyst team, it offers subscribers unrivalled insight into high-potential smaller companies. Subscribe today with a 50% discount in your first year.