I left school with only 3 GCSEs - I turned £5k into a £35m business

  • 📰 TheSun
  • ⏱ Reading Time:
  • 52 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 61%

Business News News

Business Business Latest News,Business Business Headlines

'I left school with only three GCSEs – at 23 I borrowed £5k and turned it into a £35m business'

and business planning and then wrote up a business proposal for his bank and asked for a £5,000 overdraft to launch his honey business.

Scott’s parents thought he needed to give up on the business - but in a stroke of well-timed luck, he had just had a conversation with a supplier that completely changed the way he wanted to operate.“One of my suppliers told me in order to make money you either need to be a beekeeper who produces honey in bulk and sells it in bulk, or a supplier who buys honey in bulk and sells it in jars.

The business has grown between 50% and 100% year on year, with next year’s turnover projected to reach a whopping £50million. "It left 400 people out of work and was pretty disastrous for the town, so it’s great to be able to use the buildings and bring employment back.” “We want to turn heads and export our product outside of the UK. We’re also looking at diversifying our product range, we’ve recently introduced Agave and we’re working on honey-based energy products.”

He also advises anyone struggling to get a business of the ground to be “brutally honest” about whether there's a market.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 64. in BUSİNESS

Business Business Latest News, Business Business Headlines