In the UK, over 43% of new business owners are aged fifty or above. That means that four out of ten new business are started by the over fifties, this is a 66% rise from ten years ago. To most people there is no right time to start your own business but it seems the number of self-employed ‘olderpreneurs’ have doubled in recent years. There are roughly 4.6m self-employed people in the UK, with the number raising each year and 43% of them are over 50’s.
A start-up owner has criticised a government scheme designed to help entrepreneurs get their businesses off the ground after it failed to help him secure finance. Tim Tarrant sought help from the New Enterprise Allowance (NEA) to kickstart his fishing tackle sales and rental business, Hooked, in Stalham. But the former pet shop manager said he failed to secure a loan with his NEA business mentor’s help – leaving him with just a £65-per-week allowance from the scheme to buy stock.
Both the popularity and the success of ‘Initial Coin Offerings’, more commonly known by the abbreviation ‘ICO’ seem to be going from strength to strength in 2017.
The number and variety of projects seeking to raise funds through an ICO bas exploded over the last couple of years and this growth shows no sign of slowing down. At the same time, the amount raised by successful sales is also growing, an example of which being Aragon which raised a record $25 million this week – and had to close down the sale early as they had already raised their pre-defined maximum funding cap. What’s more, the price growth of ICO tokens post-sale has seen investors pocket some astronomical profits recently.
It doesn’t take a lot of brain power to guess what Mission Belt does–its name says it all. The belt startup, which has a charitable mission to fight hunger and poverty, hit a huge milestone in pursuit of that objective. The Orem, Utah-based company has lent $1.5 million, or 60,000 micro-loans, to small business owners around the world, the company announced Monday. The startup partnered with Kiva, a nonprofit that lets people lend money to low-income entrepreneurs in developing countries, when it launched in 2012.
In 2014, startup Plastc announced its plans to launch its all-in-one credit card. Thousands of people placed a pre-order to get access once the card launched. But on April 20, 2017, Plastc announced that the company was shutting down operations and would not fulfill the orders that customers placed, leaving them in a bind.
MANHATTAN (CN) — HSBC’s U.S. subsidiary will pay more than $2 million to settle a whistleblower’s claim that it bilked a federal program to boost small businesses by seeking reimbursements for fraudulent loans, prosecutors said Friday. The whistleblower, identified in a settlement stipulation as Jan Orlando, will receive a slightly more than $360,000 share of the $2.1 million deal.
Dubai-based commercial solar power company Enerwhere firmly believes that its offerings have the potential to make the world better. But, in order to execute its mission, the capital-intensive entity was smart enough to realize that it needed to look beyond conventional financial institutions and venture capitalists for funds. In January 2017, Enerwhere raised a corporate loan of AED1 million from regional peer-to-peer lending platform Beehive. That’s not all though- the startup managed to crowdfund the entire amount under Beehive’s reverse auction system (which has investors bidding against one another to fund the company’s target, thereby driving down the interest rate) in a few weeks’ time, and also received the entire proceeds in the same week.
A Wilmington-based fintech startup that offers students loans online recently scored a $30 million investment deal. College Ave Student Loans will use the equity funding to fuel further market expansion, Chief Executive Officer Joe DePaulo said in a release
Approved, a San Diego start-up that aims to make mortgage application documents digital, has received $1 million in pre-seed funding led by Bay Area funds Social Capital and Precursor Ventures. The young company was founded by Redfin alums Andy Taylor and Navtej Sadhal. Redfin is a technology centered real estate brokerage, where Taylor was former director of product development and Sadhal was head of the platform technology and the mobile group.
Applying for college and finding the right student loan to meet your financial needs can be nerve-wracking. College Ave Student Loans, a venture-backed student loan startup based in Wilmington, is launching the Applying for college and finding the right student loan to meet your financial needs can be nerve-wracking. College Ave Student Loans, a venture-backed student loan startup based in Wilmington, is launching the Naked Financial Truth Digital Tour to provide financial advice, strategies and tips for parents and students. Financial Truth Digital Tour to provide financial advice, strategies and tips for parents and students.