Many of us will have probably read news stories about battles between companies over intellectual property (IP). Such stories can really capture the public imagination when it involves a small or medium sized company embroiled in a dispute with a large corporate. The British public seem to love an underdog story, with the classic David vs. Goliath scenario winning hearts and minds as people cheer on an SME’s attempt to fend off a challenge from a big business.
Starting your own company is a brave move. It means you finally decided that you’re ready to start making your dream come true and that you have the means and the dedication to go through with the process. It’s normal to feel nervous at the beginning but give some room for taking risks, because after all, it is an exciting and risky journey.
When starting your own business, there are hundreds of things to think about and it can seem like the list of expenses is never-ending. From operational costs, to the cost of overheads, employing staff and getting your company’s name out there, there are many costs that need to be paid. However, if you are savvy, there are certain areas where you might be able to cut costs and keep your business more cost-efficient and today we hear from some industry leaders to get their thoughts.
These are tough times for many businesses. Rapid inflation and so rising input costs. Rising interest rates leading to increased financial costs. Squeezed consumers buying less and making it difficult to pass on increased costs by increasing prices. Add to this, recession, and global supply chain issues, and for many it is the perfect storm conspiring to undermine business.
The payments world is complex and packed with innovative payment providers and technologies that cater to every customer’s need. This multitude of providers shows the increasing innovation in this sector. Equally, it makes it challenging to navigate the payments ecosystem and find the right providers for the right markets.
Let’s face it, in the startup and VC world, every day can bring a new set of challenges. This is why many of us are drawn to the industry in the first place – it’s a high stakes space where mere ideas can turn into multi-billion global businesses, amassing considerable wealth for both entrepreneurs and their investors.
You are convinced that your novel and amazing business idea is going to change the world. So what do you do next to get it off and running? In the autumn of 2021, we raised a £300k pre-seed round for FoodLama from some notable angels who had exited their ventures to companies like Snap and Twitter, as well as someone on the board of Kraft Heinz. This is an attempt at describing what we learnt before, during and after that journey.
To be a successful entrepreneur means that you have to run a successful business. That in turn requires your business to sell products or services that customers want to buy and at a price that they are prepared to pay. In addition, the profit margins that you make need to be sufficient to support a growing business.











