Small Business Owners Slay Dragons Den

Discussion in 'Press Releases' started by 10 Yetis, Feb 20, 2008.

  1. 10 Yetis

    10 Yetis UKBF Newcomer Free Member

    2,383 144
    Duncan Bannatyne and his fellow Dragons Den panellists will be crying into their millionaire's breakfast's as nearly 65% of small business owners say that they would turn their back on an offer from them as they don't believe it represents good value for money. Duncan, Peter, Deborah, Theo and James are all out!

    The Dragons Den flames have been put out by nearly 65% of small to medium sized enterprise (SME) owners who say that they would turn down a deal from one of the Dragons.

    The research, carried out by UK based accounting software company KashFlow revealed that business owners do not believe that the deals put on the table by the quintet represent good value for money and would instead turn to banks or private backers for a more reasonable rate or split of the business.

    Just under 750 business owners took part in the research and KashFlow also discovered that when it came to reasons why small business owners would accept an offer from the Dragons 36% said it was for the experience they would bring to the company.
    A further 27% said they would accept in order to try and grow their company, 24% said they would only accept because of the positive public relations opportunities, 6% said they would only accept if they had no option and a few jokers said they would accept an offer from Duncan Bannatyne just to get a discount off his gym fees.

    KashFlow commissioned the research to try and get a better understanding of small companies financial requirements and speaking about the findings Duane Jackson, Managing Director of KashFlow said,

    "Many business owners don't realise that if they just kept a better eye on their business expense and cash-flow they would probably not need to approach television shows for funding and could get a much better offer either from a private financial backer or the banks".


    He continued, "When KashFlow was looking for private financial backing I would have never dreamt of going on television and giving away 50% of my company just for a bit of extra publicity and I think many business owners realise this after they have appeared and this is why so few deals complete following an offer on camera".


    A good example of a business owner who went up against the Dragons and won is Ling Valentine from LINGsCARS.com. She turned down an offer from the dragons and her comment that "Chinese eat dragons for breakfast" became a cult hit with business owners across the UK.


    Ling (34) said, "I had two joint offers from dragons Bannatyne and Farleigh. When I refused their first offer demanding a massive 30% of my business, they reconsidered and improved their offer. But they always wanted too much. I flat refused both of their offers. LINGsCARS.com has more than doubled turnover of cars to £28 million in 2007 and I'm really glad I walked away. Businesses who jump at their first offer must be desperate or barmy."

    KashFlow launched its flagship product, an online tool specifically designed to help owner-managers in small businesses manage their accounts, in mid 2005.

    Since that time it has quickly won a significant share of the valuable accounting software market along with launching a new direct to accountant division in late 2006.

    In late 2007 venture-capital backed KashFlow won a Business Software Satisfaction Award, judged entirely by customer feedback, for the category of web-based accounting beating the likes of Sage and Netsuite.

    Lord Young of Graffham, former Secretary of State for Trade and Industry and Chairman of Cable and Wireless was appointed to the role of Chairman of KashFlow in January 2008.

    The KashFlow accounting package is securely hosted online, requires no installation and can be trialled for free by visiting http://www.kashflow.co.uk .

    The site also displays examples of feedback from actual users.

    END

    Editors Notes


    For further information contact Andy, 10 Yetis Public Relations
    Agency , [email protected] or 01452 527898.

    In 2007 KashFlow won a Sift Media award, judged entirely by customer feedback, for the category of web-based accounting beating the likes of Sage and Netsuite


    KashFlow has received two rounds of venture capital funding from Lord Young of Graffham, former Secretary of State for Trade & Industry and ex Chairman of Cable and Wireless


    KashFlow won the 2007 Software Satisfaction Awards category of Best Web-Hosted Accounts


    KashFlow is simple to employ, with users instinctively knowing where to click to perform almost any accountancy task


    Owner managers are able to effectively manage their accounts with no need for software training or prior knowledge of accountancy

    KashFlow has been featured in the likes of the Financial Times, Daily Mail, The Daily Telegraph, The Mail on Sunday and all the leading accounting magazines.
     
    Posted: Feb 20, 2008 By: 10 Yetis Member since: Nov 3, 2004
    #1
  2. PI Guy

    PI Guy UKBF Newcomer Free Member

    2,495 191
    great article. I wouldn't either.
     
    Posted: Feb 20, 2008 By: PI Guy Member since: Jun 20, 2006
    #2
  3. Calibre Designs

    Calibre Designs UKBF Newcomer Free Member

    2,868 352
    Great work there Andy!!!

    Disappointed that we were not asked as we would have raised the % (in the NO direction) even in a small way.

    Great fun to watch though :)
     
    Posted: Feb 20, 2008 By: Calibre Designs Member since: Sep 12, 2007
    #3
  4. GreatSEO

    GreatSEO UKBF Newcomer Free Member

    2,570 371
    Fantastic work AGAIN

    Regards

    Dave
     
    Posted: Feb 20, 2008 By: GreatSEO Member since: Mar 20, 2006
    #4
  5. sirearl

    sirearl UKBF Legend Free Member

    29,742 6,639
    Blatant Spamming for Kashflow under the guise of usefull information.Now where's that mod Duane so I can report it.:eek:

    Earl
     
    Posted: Feb 20, 2008 By: sirearl Member since: Apr 23, 2007
    #5
  6. 10 Yetis

    10 Yetis UKBF Newcomer Free Member

    2,383 144
    But at least I am consistent in my spamming approach? Surely that deserves kudos?

    Cheers for all the nice comments...
     
    Posted: Feb 20, 2008 By: 10 Yetis Member since: Nov 3, 2004
    #6
  7. JustOneUK

    JustOneUK UKBF Newcomer Free Member

    3,568 268
    Duane can't help that...that's what he pays for - although
    I'm surprised the forum isn't renamed "Yeti Announcements" :rolleyes:
     
    Posted: Feb 20, 2008 By: JustOneUK Member since: Nov 19, 2005
    #7
  8. 10 Yetis

    10 Yetis UKBF Newcomer Free Member

    2,383 144
    Too true...

    Quite happy to cease and desist should the masses decide it is inappropriate to pop releases up here.
     
    Posted: Feb 20, 2008 By: 10 Yetis Member since: Nov 3, 2004
    #8
  9. cjd

    cjd UKBF Legend Full Member - Verified Business

    15,445 3,069
    Nice job Andy :)
     
    Posted: Feb 20, 2008 By: cjd Member since: Nov 23, 2005
    #9
  10. DuaneJackson

    DuaneJackson UKBF Legend Free Member

    9,523 1,118
    Am I missing something? Is this the Press Release forum? Isn't this a press release?


    And it's not Andys fault that he's the best PR firm around so lots of people use his service which means he posts lots of them here.

    Either the above comments are firmly toungue in cheek and I'm being oversensitive, or you two have too much time on your hands.

    Probably the former!
     
    Posted: Feb 20, 2008 By: DuaneJackson Member since: Jul 14, 2005
    #10
  11. JustOneUK

    JustOneUK UKBF Newcomer Free Member

    3,568 268
    Nah, you're alright by me... but it was "half tongue in cheek". There are things that go on that seem (to me) to be somewhat biased to certain people but you can't be to blame for that.
    At the end of the day you are using the forum as it is intended, and the fact that you are the most active will obviously draw attention.
    If the mods of the forum have a problem with that then I guess they would mention it, as they don't - one can only assume that all is cool :)

    I'm going to get on with writing some press releases I think :)
     
    Posted: Feb 20, 2008 By: JustOneUK Member since: Nov 19, 2005
    #11
  12. JustOneUK

    JustOneUK UKBF Newcomer Free Member

    3,568 268
    For the record... it was a fascinating read :)
     
    Posted: Feb 20, 2008 By: JustOneUK Member since: Nov 19, 2005
    #12
  13. estwig

    estwig UKBF Legend Free Member

    12,652 4,527
    Good article, good PR.

    Everyones a winner!!
    :)
     
    Posted: Feb 20, 2008 By: estwig Member since: Sep 29, 2006
    #13
  14. yankee candleman

    yankee candleman UKBF Newcomer Free Member

    558 78
    On behalf of Cherish gifts who sell yankee candles at their cherish gifts shop, can I just say that cherish gifts who sell yankee candles at their cherish gifts shop do not think that this was spam in any shape or form.

    ;)
     
    Posted: Aug 30, 2008 By: yankee candleman Member since: Aug 21, 2008
    #14