Posted: 10.03.21 at 10:40 by Ellie Brown
A Teddington entrepreneur has co-founded a new service to help UK microbusinesses succeed.
Colleen Wong, who founded wearable tech company My Gator Watch in 2015, launched her new venture Thrilltwobirds yesterday, alongside her co-founder and digital marketing consultant Sonica Singh.
The paid service provides support to microbusinesses by linking them with small businesses which can provide specialist services they need.
Wong and Singh will also offer advice and mentoring to their clients.
More information on the services offered and how to get involved are available at their website, www.thrilltwobirds.com.
Wong, 44, said the two came up with the idea of helping microbusinesses over lockdown as the number of people starting new ventures grew.
She said: “The problem with micro businesses is that there's a really high death rate.
“It’s because of their lack of business knowledge, or they're spending too much money at the beginning - all these little factors.
“We want to see that number go down.”
She added that while many people have a great product of service, many have no idea how to start a business and waste time finding the right resources to help them develop it.
“Because we have so much experience, we just look at their business and say look, this is exactly what you need to do,” she said.
“We take time to understand their business.”
The service already has six clients and will take on as many as Wong and Singh are able to manage alongside their existing jobs.
There are currently 5.7 million microbusinesses in the UK and these make up 95.27% of privately-owned companies.
Also known as micro-entities, microbusinesses are defined by the government as companies which have any two of the following: a turnover of £632,000 or less, £316,000 or less on its balance sheet, or 10 employees or less.