IN this week’s SME Focus we hear from a woman who found being made redundant provided the spur to become her own boss in a line of work that she loves.

Name:

Linda Chatwin nee Harraughty.

Age:

44.

What is your business called?

Genealogy Worldwide Ltd (GWL).

Where is it based?

Livingston, West Lothian.

What does it produce, what services does it offer?

As a team of professional genealogists and researchers, we undertake work on behalf of solicitors to generate a family tree in an estate where no will has been left. We then are asked to trace any potential beneficiaries and work to ensure claim is accepted on the estate we are working on.

Whom does it sell to?

Mainly solicitors and related parties.

What is its turnover?

£250,000 per annum.

How many employees?

Four full time staff.

When was it formed?

We have been trading since 2012.

Why did you take the plunge?

I spotted a gap in the market for a Scottish based company offering genealogy services which could provide a professional service to organisations and individuals. Prior to that I’d been working in the financial services industry and I’d noticed that many of the clients were looking for other services, including genealogy and, in most cases, they had to go to solicitors who don’t necessarily have the specialist knowledge to carry out this type of work.

What were you doing before you took the plunge?

I’d been working in financial services previously and had been made redundant from my last job as a project manager at Scottish Widows. I had been doing contract work when I decided to go into business myself. Scottish Widows at the time was changing its focus and direction and also going through major redundancies due to the economic downturn. Uncertainty and insecurity in the market motivated me to take my career into my own hands and so I set up in business myself and I’ve never looked back.

How did you raise the start-up funding?

I didn’t receive any funding to start the business. I had some modest savings and I lived frugally, making efficiencies in my home life as I built the business gradually. I was determined not to accumulate too much debt.

What was your biggest break?

When we were commissioned to conduct genealogy work on a large estate. The contract was around four times bigger than any previous single piece of work we’d done to that point and I had to devote most of my staff’s time to it. The feedback on work we’d carried out for other clients had been positive and the client was confident we could be trusted to deliver. Having done this important piece of work assisted us greatly when pitching to future clients and was clear evidence of our credentials. Client testimonials also helped.

What was your worst moment?

The first Corporation Tax bill! It was obviously quite a lot of money to pay and having only just established the company, it was quite stressful seeing the money go out of the business. I knew it was coming but it was still daunting to have to pay it.

What do you most enjoy about running the business?

The flexibility of being my own boss and the actual work that goes on every day to locate and trace beneficiaries. I thoroughly enjoy that part of the job! It’s a very interesting and rewarding part of my role. The flexibility empowers me to manage the business in an efficient and effective way. When necessary, I can make decisions quickly and adapt more easily to changing circumstances I enjoy getting involved in every aspect of the business from service delivery and business and staff development to financial control. Working for someone else means you have a defined role and you’re restricted in what you can do.

What do you least enjoy?

Sitting down with my accountant and sifting through all the paperwork. It is a necessary part of my role but I prefer being out and about, meeting clients and developing new business opportunities. I’m very experienced in managing finances, budgets, projections and I know my business inside out, but I’m more of a ‘people person’ and I relish bringing in new business and clients. I also love the research part of the business and I take any chance I can to get involved with this!

What are your ambitions for the firm?

To expand the business through new and existing clients and develop additional services to further enhance GWL’s reputation. I want to establish GWL as the market leader in its field within Scotland and other parts of the UK. Future plans would be to increase staff through continued, realistic company growth and turnover. Longer term plans would be to conduct work on behalf of clients in the USA looking to take up genealogy services. GWL is also currently in the early stages of researching and developing genealogy computer software package.

What are your top priorities?

Maintain and improve company growth; expand current portfolio of GWL’s services; spend time with my family and dogs; enjoy my spare time and maintain a healthy work/life balance.

What could the Westminster and/or Scottish governments do that would help?

Provide small companies like GWL with tax breaks, assistance with pension costs and improved access to free advice and guidance, at least for a certain amount of time. I believe that this would improve the success / survival rates of SMEs!

Improved tax relief and breaks: as a small business we have had to pay considerable amounts of tax and other costs which can sometimes be difficult to balance with income, particularly in the first few years of setting up the business. I believe that small companies could be given certain tax and NI exemptions for a short period of time such as one or two years to help maximise survival rates. Alternatively, perhaps these exemptions could be related to turnover and profitability; once company reaches a certain threshold for these indicators then they would be liable for tax and NI etc.

What was the most valuable lesson that you learned?

That trust is very important in running a successful business. Trust needs to work both ways and it is a very valuable commodity and without it can make things very difficult and unpleasant. At GWL I have worked incessantly to build up and maintain trust between ourselves and our clients. I believe this is one of the many reasons that GWL is the success it is now.

How do you relax?

I like to read, cook and go to the gym and spend lots of time with my two little Shichon breed dogs, Pip and Paige, who keep me sane.