Our Great British Entrepreneur Challenge is up and running. It offers start-up bosses a life-changing opportunity to win up to £50, 000 in seed mentoring and funding from a high angel buyer Andy Yates. But don’t simply take our word for it. Last year’s winner Lee Flavin scooped the entire £50,000 to accelerate his business RateSwitch, which helps mortgage owners find very good rates from their existing lenders – even if their family or financial circumstances have transformed.
While the cash reward provided an essential financial injection to the business, Flavin said the mentoring and networking opportunities provided by Yates were equally invaluable. Since winning your competition, the business has doubled in size, has made new hires, and revamped its website. Flavin caught up with That is Money to go over how his business changed almost a calendar year after winning the task. 1. Why did you enter the fantastic British Entrepreneur Challenge?
I knew my mortgage switching business RateSwitch got much promise. It had been already proven to save homeowners life changing amounts of money on the mortgages, often within hours and even if their personal circumstances experienced transformed. At the same time I realized I needed specialist help and support to get RateSwitch to another level and to help so much more homeowners. Like so many entrepreneurs, I have never run an ongoing business before and I needed help from somebody that experienced seen it, done it and realized what must be done to make it. Have you …