Profile
Tama Ra Event Designers provides event management services for a range of functions such as wedding, parties, and corporate events. It also runs an equipment hire service. The company was set up by director, Hazel Jordan in 2002 and became a limited company in 2008.
Jordan previously worked in accountancy services, and for a number of years she ran the business on a part-time basis while continuing to work. She left her job in 2005 to concentrate exclusively on the business.
The Way Forward
Barriers to accessing finance
Barriers to accessing finance have impacted on Jordans ability to expand the business at a faster pace. However, her mostly negative experiences with her bank and business advisors has led to her taking an alternative and more creative approach to growing her business, which is proving to be more fruitful.
Experience with banks
She explains: I attended one of the National Black Womens Network seminars a numbers of years back and Lloyds Bank did a presentation which was really good, so I signed up with a business manager at my local branch. Initially the service was good and I had an overdraft facility. But when this manager left, the service I received went downhill - it became difficult to book an appointment or get an overdraft they wouldnt even respond to my messages. So a few cheques went unpaid and things got worse.
Although I am getting more and more jobs and my bank manager has seen the extra funds coming in, I still havent been able to get financial assistance from them. For example, I got some contract work, but I had an outlay for the job. I showed the bank manager the letters, contract etc. The job was worth 4k and she still wouldnt allow me a £900 advance to buy the material to fulfil that job. I had to get around this by taking a deposit from the client. The treatment in general from my bank has been bad, so I decided not to bother with them anymore. But these experiences have made me stronger and I now look at business in a different way.
Quality of business advice
Jordan says business agencies have not been useful in helping to access finance or with business advice.
She explains: I have had contact with a couple of business advisors, but I find with Business Link and the London Development Agency the websites are good with lots of useful general information, but when it comes down to telling me where I can get grants and how to deal with problems with the bank they are no help at all.
If the Government is saying there is all this money to be passed down to us, I dont think its fair that there are all these business advisors in place - most of them havent got a clue and have never run a business themselves. I fill in their questions, they go back and nothing happens. Id like to know what businesses have actually obtained any money through these agencies.
For example, one of my business colleagues that got quite far with a bid was told she would only be given money if it was match funded, even though this was not the original criteria of the bid. She was very disappointed in having reached so far with nothing coming from it. I would expect the business advisors to shed some light on these things and explain where we are going wrong.
She adds: I know business advisors see all different types of companies with different needs but some of them advisors dont even know the basics. Because of my experience, last summer I changed my whole approach - I just concentrate on finding the business and waiting for the funds to come in this way, but it means I only work with what funds I have which can slow things down.
Overcoming barriers
Jordan is proactive in generating business the majority comes through referrals from friends and clients, but also through vigorous networking and forward planning.
She says: At exhibitions I meet people and generate my cards, I am also linked with several caterers and venues that refer me, and because I have decorated many venues, people see my work they take my card.
Networking
Networking has given Jordan and her business a much needed boost. She explains: Advertising is so expensive and there is no guarantee that I will reach my target market, so in the last few months I really started networking and have got more results from it.
I joined the Business Network Initiative (BNI) attending their breakfast meetings every week. They only allow one business from each category and I have received a number of referrals. I have to find work for other business by referrals and they do the same for my business. Its much better than looking in the Yellow Pages and I have received a lot of work this way. Every week I have to present a 60-second talk on my business. I have never been a public speaker so this really frightened me at first, but each time Ive gone it has built my confidence. It has helped in generating business and on the educational side -knowing how to sell my business and having more confidence to put myself out there.
Sometimes running my business I can feel very alone, and when I go to these network meetings its an opportunity to share whats going on and I realise other people are having similar issues. I always leave the meetings feeling really positive and full of energy.
The way forward
There are a number of things that Jordan believes would help small businesses: It would be useful if advisors from agencies have a thorough business understanding and the ability to be effective. At the moment these organisations have too many tiers and by the time the money that has been allocated for small business has gone through all the tiers, it has been sucked out with fancy brochures etc. I have been referred to so many organisations - there seems to be so many units doing the same thing.
She adds: Business websites should have adequate signposting banks should be flexible and offer people business advice from the time they sign up.
Author: Suzanne Simmons-Lewis National Black Womens Network
For: Prowess National Policy Centre, 2009
