The Peak Princess Story

1. What inspired your business idea for Peak Princess?

I was inspired on a sunny day in the park having cake with my god-daughter, Tilly, and her Mum Jo. (I was on a career break after getting completely burnt out by city life and constant deadlines). It struck me that there was a gap in the market for beautifully made children's wear in prints that you don't get on the high street. I was very lucky that Liberty liked what I was doing and agreed to supply my fabrics. I've also been incredibly fortunate to have my Mum's support - she was a dress designer in the sixties and even had her designs featured in Vogue. She's a constant source of great advice.

2. What does your company do?

I handmake dresses for babies and little girls from six months to six years in Liberty prints from my home in the High Peak - hence the name Peak Princess! I want every little girl to feel as special as I did when my Mum used to make dresses for me.

3. What is one of your lessons learned in starting your own business?

I've learnt so many lessons I can't begin to tell you. My sister-in-law is the design director for Jellycat and I'd say she's taught me most about business. I'm a journalist by training so this has been a steep learning curve. My number one tip is to listen to criticism. Criticism stings and it's often difficult to not take it personally, especially when you're putting your heart and soul into something - which is what you are doing with handmade goods. But the criticisms I've had have been the most valuable pieces of advice. But balance that with having faith in your own judgment and be decisive.


4. How long did it take you to research your market and prepare before you launched?

I sat in the park with Tilly in June last year. The collection was launched in March but I didn't really get going full time until November as I'd been on a career break after a hectic 7 years in news and documentaries. My first port of call was my local Business Link adviser Sue who was great. I had a distinct idea of what the designs would be like and spent about six months product testing and doing market research. Friends have been incredibly patient trying on endless dresses until I was happy with the design. I took fabric samples everywhere I went and asked everyone and anyone who'd listen what they thought! And of course I did a lot of research on pricing. My target customer base divides into two camps - one a gift market for godparents, friends, relatives and grandparents looking for a very special gift and then second, professional Mums in their 30s and 40s who want their little girls to wear something made with love that can't be bought elsewhere.


5. What is your passion in life?

I have loads of passions - it's corny but number one is my husband Nik. Number two is where we live in Chinley. I love this part of the country and it's wonderful to make the High Peak a central selling point of my dresses. Number three is creating a wonderful product whether that's my dresses or in my previous life great documentaries and news programmes. After that I guess it's fell racing (and cake!).

Christine speaks with Lissa Cook

Peak Princess

HSBC Business Account Referral Scheme

If you are already a business account holder at HSBC, £50 could be yours if you Recommend HSBC Business Banking to a friend. Just walk into your local HSBC commercial banking branch for a referral card. More information can be found on their website:

HSBC Bank plc
HSBC Business Direct Team by phone: 0800 633 5610

Christine speaks to Keira at Mamascarf - very inspiring!

What inspired your business idea for Mamascarf?

I came up with the idea for Mamascarf when breastfeeding my (then) baby, Sam. I was self conscious about feeding in public and always trying to cover up but finding that nothing worked - blankets overheated him, he would pull off scarves and muslins and they would block my view of him. Added to this I would get arm and back ache without my support cushions. When I realised there was a gap in the market I decided to do something about it.

What does your company do?

My company creates and sells Mamascarf breastfeeding scarves online and through independent retailers.

What is your top tips in starting your own company?

My top tip would be to test the market when setting up a new business, so you know whether it's going to work or not without ploughing too much money into it. When I first launched Mamascarf, I had no idea whether it was going to be a success. So I had an initial small order made up to see how it went and said to myself if I lost that money it wouldn't be the end of the world and at least I had given it a go. Luckily it worked!

What are your plans for 2009?

My plans for 2009 are to build the distribution of Mamascarf by gaining new stocklists.

What is a fun fact about yourself?

Fact - My son was born on my first wedding anniversary.

Christine speaks with Keira at Mamascarf

Start Your Business - Free Office Space Offered to Start-Ups

Following Jun 1st featured article, many of you emailed me to ask for more tips on how to keep cost down for start-up businesses and whether leasing an office is a smart way to spend your start-up capital.

Starting your business does not always necessarily mean dishing out a lot of cash. Always do your research and the key is to get organised before your target launch date!

The following alternatives can save you money:

Virtual PA
There are companies (including Zentime) that will do all the admin. work related to your business without you having to hire full time staff. Virtual PA's is an increasingly popular trend especially in difficult times as business owners see the benefit of reducing head count but still efficiently getting the paperwork done - keeping their books current and in order. Virtual PA's can work from home, at your office for one day a week or whenever required instead of being on your payroll 5 days a week. This is a cost effective way for start-ups to complete tasks such as invoicing, book keeping, e-marketing newsletters and diary management, but keep the cost down. You can be a home-based business and have your work done for you by a virtual PA remotely.

Virtual Business Address
There are also companies that you can pay to use their office space and meeting rooms for important client meetings. A monthly fee of around £30 can give you access to professional boardrooms for client meetings, telephone answering or messaging service and most offer same day mail forwarding services at an additional cost. This frees up time, allowing you to focus on marketing your business and being on the road instead of monitoring the phones. Most of these companies also offer prestigious postal codes to enhance the image of your start up business.

Regus Workspace
Did you know that Regus provides a scheme offering free access to millions of pounds worth of office spaces to start-up businesses? I read this and thought what fantastic news! We need more companies like this.

Workspace solutions provider Regus has formulated a campaign to support UK entrepreneurs by offering free use of its business centres. Business mentoring sessions will be offered at its facilities to individuals seeking start up advice. Under the scheme, Regus is providing unlimited use of its business lounges and cafes in over 1,000 locations worldwide. Entrepreneurs can choose to have free use of day offices and meeting rooms or free office space for three months. Regus hopes that the idea will allow up to 50,000 start up firms to get established. Look at Regus Workspace

Get Organised! Part I

When I had the idea of launching my own lifestyle management & concierge business, I didn't know where to start. There were so many things to check off the list and it can sometimes be overwhelming.

Starting Up does not have to be a mad panic. All you need is some simple steps to help you get organised!

Business Idea - clearly outline what issues/ problems your idea can solve for your potential customers. What challenges does it face? Include this in your business plan.

Forming a business name or structure - speak to an accountant and a lawyer to discuss what business structure best suits you. Do you intend to trade under multiple business names and have them all belong to a Holding Company? Find out what your options are and make a sound, well thought-through decision.

Setting up your office - Consider keeping cost down by having a home based business. If the nature of your business requires meeting clients at an office, there are many Virtual Offices you can pay to use their offices if you pre-book. This will keep your overhead cost down whilst still meeting clients in a professional office environment when needed. Virtual PA companies including Zentime business support can help with general admin. Explore and understand the different packages available and having a virtual PA can make your life a lot easier especially for start-up businesses.

To be continued...

TAKE INSPIRATION speaks with employment lawyer, Dale Langley

What does Dale Langley & Co do?

We are a small firm of lawyers set up mainly to assist employees facing issues like redundancy and other employment issues, working with the client to resolve the situation as cost-effectively as possible but without compromising the standard of work.

What were you doing before becoming your own boss?
I worked for two large City law firms for fifteen years too long…however I have to admit the experience of looking at things from the other side is very useful to me now.

What are your plans for the business in 2009?
There is a lot of pressure to expand the business, and we are often approached by those seeking a merger, but our main aim is to stay “niche” with gentle and controlled organic growth over the next year.

What one general employment legal advice or tip do you have to offer to those who are facing redundancy and negotiating their package?
Sorry this is going to sound like a plug, but the best advice is to take a little advice early on rather than a lot, later on! Until you have advice – try to listen and take notes only.

What is the one thing you could not live without in your daily routine?
I could list so many, but the truth is you can pretty well live without most of them if you have to. Probably the best tool for our business is currently e-mail, and I guess I would now miss that more than most. In fact when a client is not on e-mail everything takes much longer!

Christine speaks to Dale Langley at Dale Langley & Co. | Employment Solicitors

TAKE INSPIRATION speaks with Chartered Accountant - David Beckman

Q. What does the company do?

We help to make businesses more profitable and life less taxing. We stand alongside our clients and help them in all aspects of running their business, whether it be preparing VAT returns, bookkeeping issues, dealing with final statutory accounts, submitting company tax returns, payroll or personal tax returns. Throughout this process, we advise businesses on how to maximise their profits and pay the least amount of company or personal tax using all legitimate means.

Q. What were you doing before becoming your own boss?

I worked for an international tax practice before joining a small partnership as partner designate. Three years after becoming a partner there I set up my own business as I was fed up doing all the work for the senior partner who insisted on taking the lion's share of the profits and retaining control.

Q. What are your plans for the business for 2009?

To continue our growth and to continue improving our internal systems so that we deliver quality service and advice to our clients each and every time, no matter how big or small our client is, and offer extremely good value for money.

Q. What one tax advice or tip would you give to those thinking of starting their own business?

Get the structure right at the outset as this can save a huge amount of tax. For example, to trade as limited company, rather than as a sole trader, and pay low salary and high dividends can save £2,368 of tax.

Q. What is the one thing you cannot live without?

My children

Christine speaks with David at David Beckman & Co Ltd | Chartered Accountants & Chartered Tax Advisers

To-Do Checklist Following Redundancy

It's a stressful time losing your job and the last thing you may be thinking of is organising your paperwork before your employment officially terminates. If you decide to leave the company and take your package, these are some things to check off your list of to-do's before leaving the firm. It's a good idea to photocopy all important documents such as the ones listed below so you have records of everything.

You will find it is more difficult when you've returned your blackberry, your staff pass, and lose access to internal telephone numbers to track these items down afterwards. So I've created this check-list that I hope all my online readers find useful. Please add to this list by posting your comments online.

Check-list of To-Do's
Contact your HR department and make sure your address & contact telephone no. is up to date for the following. Do not expect HR to update this information themselves. Always ask for direct telephone numbers to each department.
-Pension account
-Executive Share Ownership Plan
-Payroll slips

Documents you need from HR
-Your P45 form (you'll need this for your Tax Return)
-Your P60 form (you'll need this for your Tax Return)
-Have your outplacement consultancy services package be sent to you (if applicable)
-Ask for a breakdown of how your redundancy package was calculated
-Ask for any holiday pay that may be owed to you
-Find out the termination date of your health & other staff benefits
-A copy of your compromising agreement to seek independent legal advice

Useful links:
Directgov
Redundancy Help
Redundancy Expert

Redundancy: Job Seeker's Allowance

As they say, "Time is money!" The longer you take to look for employment or figure out what you want to do following redundancy - the longer your income is interrupted. Although each individual's entitlement to Job Seeker's allowance can be different, it's a good idea to contact your local JobCentre Plus branch to understand your rights and entitlement (if any). With unemployment currently at 2 million and still rising, you can only imagine how long it would take to process your claim. So speak to someone at JobCentre Plus and understand your options and see if it's worth submitting a claim for job seekers' allowance. If your claim is successful, you will receive £60 in job seeker's allowance per week. When I was made redundant, it took me a little while to find that I possibly could be entitled to job seeker's allowance. I simply did not know about this government service. Although my claim was turned down because my package exceeded their criteria and my combined household income was high, I'm glad I explored my options. You could be missing out on money you may potentially be entitled to. So know your rights! Visit your local JobCentre Plus branch and see if you are entitled to compensation. Every penny helps!

Jobcentre Plus

Dealing With Redundancy: more useful links

Some of you have personally written to me for more useful links relating to redundancy. A lot of you have found the following sites to be useful when dealing with redundancy. If you have used other sites that helped you, please post the links online to share with all our online readers. Thank you.

Careers Advice
TheSite
Directgov
Redundancy Expert