Clara Bentata, owner of London-based Lucy and Belle, explains why the business should win the innovation in funding category of the Guardian Small Business Showcase competition.
I originally started my business by selling on eBay. First I just listed stock that I bought in the local 99p store, selling at a 100% mark-up with postage and packaging not included. This ensured all my costs were covered. I was making small profits, and more importantly I was learning valuable selling skills and focusing on the margins at all stages.
In September 2014 I launched www.lucyandbelle.com. I like to call it The Shopping Destination For Little People – maybe one day it will be!
I set up my business buying stock using shares I had been gifted by my father 10 years before, as well as earnings from part-time work as a property manager.
I also save money by doing almost everything in-house. Apart from critical overheads such as a managed website and some planned magazine advertising we run a tight ship at Lucy and Belle. Online selling is a competitive market so we need to get the basics right before raising external finance from third parties.
All entries which meet the competition criteria are published and our judging panel select a shortlist of the three for each category. Winners are announced at an awards ceremony in summer 2016.
