James-UH
24-02-2005, 10:21 PM
Hi all - New to this site / forum :)
Also noticed while browsing someone else has the name James Smith, if a mod sees this could my username be changed to: James - UH
What are the odds eh? :P
Anyway - I have been running my business, UH Hosting Ltd, since May 2002. The business started off as a sole trader, incorporated as a Limited Company Nov 03 and registered for VAT at the same time.
What we do:
In short we provide web services. The kind used to host web sites. Web hosting (Shared and Reseller) and domain names. We also reach into the other more specialized (Becoming less so, due to decreasing costs for doing so) services. These include co-location, dedicated servers (managed and un-managed), SSL certificates and secure SSL hosting.
We utilize a DC in London known as Telehouse Docklands, most of you have probably never heard of it, the more tech orientated of you may have ;) - It appeared in an episode of Little Britain once, series 1 I believe.
The equipment is owned by us, the racks, servers, switches etc. Like many smaller providers we resell certain things. These include domain names, SSL certificates and at present Windows Web Hosting.
The company as a whole is quite well established, considering I started the business on £50 with a reseller account I think it’s achieved a great deal, our turnover has increased year on year and I am able to pay myself a wage from the company. We have a Sizable client base, generally recognized in web hosting quarters as an honest and reliable company.
Right, that’s the blurb out of the way :)
I am considering taking things further. We have up to this point not needed to commit to serious advertising. Word of mouth has served, and continues to serve as well. But I understand there is only so much growth to be had relying on word of mouth. We need more public awareness of what we do. Like every entrepreneur, I think what we provide rocks and everyone should have it :P
To take things further we would need considerable investment. I am reluctant to go for a bank loan, simply because the risk to the company would be great. If it goes pear shaped the company would be put into solvency and closed down if the loan is not re-paid. But other options are available. VCs, Business Angels, certain Government trusts, local trusts, Princes Trust and so on. From my research over the last few days on the subject, trying to gain backing from a business angel sounds to me like one of the best options, primarily because the risk to myself and the company are minimal. That is of course if the trust of the investor is won over and he / she / they invest.
Being a currently trading and profitable business with existing clients I hope gaining any kind of funding would be considerably easier than a start-up with no records or current clients. Be it from a bank, investor or elsewhere.
I have sought advice from my local business link, two meetings with a very experienced man in business. I am seeking a business mentor through a contact my Mum works with, this I am viewing as a very positive step forward. I’ll make sure my questions are answered Re: best method to gain investment, business plan advice and so on.
I suppose your wondering what my question is by now – Basically, is there anyone here who has attempted and succeeded in gaining investment either from a VC or business angel?
Also noticed while browsing someone else has the name James Smith, if a mod sees this could my username be changed to: James - UH
What are the odds eh? :P
Anyway - I have been running my business, UH Hosting Ltd, since May 2002. The business started off as a sole trader, incorporated as a Limited Company Nov 03 and registered for VAT at the same time.
What we do:
In short we provide web services. The kind used to host web sites. Web hosting (Shared and Reseller) and domain names. We also reach into the other more specialized (Becoming less so, due to decreasing costs for doing so) services. These include co-location, dedicated servers (managed and un-managed), SSL certificates and secure SSL hosting.
We utilize a DC in London known as Telehouse Docklands, most of you have probably never heard of it, the more tech orientated of you may have ;) - It appeared in an episode of Little Britain once, series 1 I believe.
The equipment is owned by us, the racks, servers, switches etc. Like many smaller providers we resell certain things. These include domain names, SSL certificates and at present Windows Web Hosting.
The company as a whole is quite well established, considering I started the business on £50 with a reseller account I think it’s achieved a great deal, our turnover has increased year on year and I am able to pay myself a wage from the company. We have a Sizable client base, generally recognized in web hosting quarters as an honest and reliable company.
Right, that’s the blurb out of the way :)
I am considering taking things further. We have up to this point not needed to commit to serious advertising. Word of mouth has served, and continues to serve as well. But I understand there is only so much growth to be had relying on word of mouth. We need more public awareness of what we do. Like every entrepreneur, I think what we provide rocks and everyone should have it :P
To take things further we would need considerable investment. I am reluctant to go for a bank loan, simply because the risk to the company would be great. If it goes pear shaped the company would be put into solvency and closed down if the loan is not re-paid. But other options are available. VCs, Business Angels, certain Government trusts, local trusts, Princes Trust and so on. From my research over the last few days on the subject, trying to gain backing from a business angel sounds to me like one of the best options, primarily because the risk to myself and the company are minimal. That is of course if the trust of the investor is won over and he / she / they invest.
Being a currently trading and profitable business with existing clients I hope gaining any kind of funding would be considerably easier than a start-up with no records or current clients. Be it from a bank, investor or elsewhere.
I have sought advice from my local business link, two meetings with a very experienced man in business. I am seeking a business mentor through a contact my Mum works with, this I am viewing as a very positive step forward. I’ll make sure my questions are answered Re: best method to gain investment, business plan advice and so on.
I suppose your wondering what my question is by now – Basically, is there anyone here who has attempted and succeeded in gaining investment either from a VC or business angel?