Inspired by this thread on Lion, I thought I'd share the question here on MLF. What are UK business startups with great potential?
I think Badoo is one. It's massively popular both here and elsewhere globally, has many customers (users), innovative (and profitable) business models, some smart people working there and huge growth.
Never even heard of Badoo! But apparently it started in Spain in 2006, so not exactly a new company. So what is the definition of a start up? Brand new, 6 months old, 18 months? I remember we came second at the 118 awards in 2007 in the new directory category, and were beaten by the Post Office!?! Apparently as they had just launched their own directory services, they were classed as a new business. So a company that can trace its roots back to 1516 was classed as a start up  If Google launches a new company in the UK with a $5 million budget, is that a start up?
Haha really interesting point about the Post Office being classed as a startup - I agree it is probably wrong to do so as it has entirely different circumstances than a 'start-up' in the common sense i.e. a much larger budget, already well established brand name, etc. enterprisepe
“Never even heard of Badoo! But apparently it started in Spain in 2006, so not exactly a new company. So what is the definition of a start up? Brand new, 6 months old, 18 months? I remember we came second at the 118 awards in 2007 in the new directory category, and were beaten by the Post Office!?! Apparently as they had just launched their own directory services, they were classed as a new business. So a company that can trace its roots back to 1516 was classed as a start up If Google launches a new company in the UK with a $5 million budget, is that a start up?” Good point re. what is a startup. I think Badoo is in this case as right now at least it's still in it's growth phase. I think companies that prioritize growth over profit can technically be called a 'startup' though in year terms, I guess any company older than 10 years is probably not a startup. Thanks, Lion
“I think companies that prioritize growth over profit can technically be called a 'startup' though in year terms, I guess any company older than 10 years is probably not a startup.” Maybe I'm too cynical, the problem in my mind seems to be, or at least since the first dot com bubble, is get some venture capital and investment, then concentrate on growth and worry about profit or a working business model later on, Amazons a classic example. It's ok if you have a nice big pot to burn through, but it's a pretty dangerous strategy which has burnt many investors and seen plenty of failures. IMHO I think growth and profit should go hand in hand, giving you a commercially viable base, unless of course you are a charity Googles launched an interesting project, a startup campus in London. Be interesting to see how many and the type of successful businesses that emerge from here.
Have you guys heard about Amazing Gift Boxes?????  Jerry D Amazing Gift Boxes
I'm sure there is some kind of technical definition of a start up some where on the web. In my own personal opinion if your company is less than two years old then you most definitely can be classified as a start up. The post office been deemed as a start up is comical. Saying that though but I do believe that if a experienced business person like Alan sugar started a brand new business it can still be deemed as a start up up. but if a massive operation branches off into a new project or direction I don't see how that can be deemed a start up !! sarah_Barton_tools
I would like to see news reports of a start-up business that isn't anything to do with computers, apps or the Internet. Maybe a sign of getting older but it would be great to find out about a company that has done well, grown quickly, has a new idea and wasn't started by some 21 year old Harvard drop out wicketts |
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