Turnover Magazine

With crowdfunding, entrepreneurs are
able to engage their customers on a closer
level, and build new communities around
their brands. The result is increased customer
loyalty, customer retention, and customer
advocacy. “For smaller start-up businesses,
it can be incredibly powerful to engage and
galvanise your customer base,” says Lang.
“When you’re doing a crowdfunding campaign,
you’re putting yourself out there and
growing the brand, which can lead to customer
acquisition. The longer a customer is
in your company’s life, it gives you a stronger
base for growth.”
While the majority of entrepreneurs,
from successful tycoons to young innovators,
are sceptical about Brexit, there is an
undercurrent of self-belief that Britain’s enterprising
minds will keep strong and carry
on. And Brexit might not be such a catastrophe
after all. In a survey conducted by Turnover,
80% of young entrepreneurs said that
they believed fewer regulations for companies
and starts-ups after leaving the EU was
a likely, positive outcome for business in
Britain. Despite the gloomy headlines, there
is no drop in ambition for Britain’s young entrepreneurs.
“When you base your business on something
you truly love, you’re focussed and motivated
to put in the long hours” says Zlata
Rodionova, a freelance money journalist and
business owner. Her own photography studio
in London is a true success, and although
she does believe that an end to free movement
of people will have a negative effect, her
advice for young entrepreneurs is only positive.
“Starting a business is tough- but you
can find something you’re really passionate
about, and then you drill down your plan to
the finest details.”
So what is the future for life after the EU?
The UK government may be unsteady with
its own reassurances, but the strong current
of positive attitudes and pro-active approaches
among Britain’s SMEs and start-ups
is certainly encouraging.
“2018
has been a record
year for Crowdcube”,
says Lang. “We’ve
funded more businesses- 200 in 12
months, and we’ve secured more investments
than ever before. Despite
the Brexit woes and concerns about
the economy, we have experienced
unprecedented demand from entrepreneurs,
and the investor-appetite
is there too.”
Amid uncertainty, start-ups can
thrive. After the financial crash of 2008,
companies such as Uber and AirBnb ballooned
and created the gig economy. Brexit
may provide a vacuum for the next big
movement, and Britain will be its home. It
seems that whatever happens as Brexit plays
out over the next couple of years, this is by
no means a dark time for young entrepreneurship.
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