White Wealth Management, a BG Futures tenant since October 2017, are approaching the end of their journey with the Business Incubation Hub. Danny White, owner and director, shared his start up story and reflected on how being a BG Futures tenant has benefited his business.
Danny worked in NatWest bank from 2001 and became a Regulated Financial Advisor in 2005. Following changes in regulation in January 2013 the majority of UK banks exited the face to face financial advice market. Danny developed his new skills in a role at a company in Nottingham for two years.
During this time, Danny worked towards becoming a Chartered Financial Planner and, in 2017, became a Fellow of the Personal Finance Society; it was in October of the same year that he decided to set up White Wealth Management.
Danny felt the initial transition from employment to self-employment was a fluid one:
“I had a set of skills that were easily transferable in terms of employment. Through contacts from my previous roles, it was quite clear there was a demand for advice in areas such as pensions and inheritance tax which was exacerbated by UK banks exiting the advice market.”
Of course, setting up his own business was not without its challenges:
“I found it really difficult getting used to cash flow; some complex pension cases could mean there would be a 9-12 month wait for remuneration”
Ultimately, though, Danny felt encouraged by the amount of referrals he received from other financial advisors, as well as glowing recommendations from clients; thus spurring him on to grow and develop his business.
Through all of his experience being self-employed, good and bad, Danny feels it is key to have a plan when you start your entrepreneurial journey but above all:
“Research your market and be prepared to fail and adapt”
When asked about his time at BG Futures Danny said:
“The BG Futures approach to building a community atmosphere is great. In addition, the managed office space at BG Futures is great value, professional with some great facilities.”
Becky Goodman, Enterprise Development Manager at BG Futures, praised Danny’s growth and his impact on BG Futures:
“It has been great to see Danny’s business flourish during his time with BG Futures, and it has been great to have White Wealth Management as part of our community. White Wealth Management have contributed greatly to the BG Futures offer, supporting the BGU Enterprise Club networking events, the charity events we have held, and to our community in the Business and Enterprise Centre by being there for other co-businesses and their colleagues. We will certainly miss Danny and his team when they move on after their 2 year period of business incubation with us in BG Futures”
If you have got a vision for your own business but aren’t sure where to begin then the BG Futures team are the perfect place to start. With facilities and expert support available in their incubation centre, they’ll be able to get you on the road to success. Visit our website or contact them today to see how you can start your own adventure.