Business Butler’s expansion plans
A SWANSEA start-up which provides SMES with expert business advice has secured a six-figure investment to support its Uk-wide expansion plans.
Business Butler, founded by its chief executive Bhupinder Sidhu, has been backed with a £100,000 investment from angel investor Keith Price, in a deal giving him a 5% stake in the company.
Business Butler has developed a web-based business matching engine that connects small business users with vetted local professionals across a range of disciplines from accountants to corporate lawyers. It is also developing the UK’S first business advisory chatbot which is scheduled to launch next year. The chatbot will be capable of answering thousands of questions on a variety of subjects and give impartial business advice for SMES and start-ups.
Business Butler officially launches in Swansea and Cardiff in September, with Bristol to follow at the start of 2021.
Birmingham, Nottingham and Leicester will also join the Business Butler network in 2021. In total 200 towns and cities throughout the UK have been identified as viable locations for Business Butler.
Users don’t pay for the service, with business experts paying £249 to join its panel. They then pay £49 per month. Business Butler has to date recruited 40 experts. It is projecting £2.5m revenues by 2022, increasing to £7.3m by 2024. Jobs created are projected to be 16 at the start of 2021, 45 at the beginning of 2022 and 60 at the start of 2023.
Mr Sidhu said: “I am delighted to receive the investment and support from someone as respected as Keith. We have managed to grow during these unprecedented trading conditions and our robust business model, which is suited to the digital economy and focused on local ecosystems working together, has been the reason behind this success.”
Mr Price, a respected business executive and investor, said: “I am delighted to have been given the opportunity to be involved and invest in Business Butler at the start of its journey. Now more than ever, businesses everywhere need as much help as they can get in navigating the complex road to profitable operations.
“Business Butler is perfectly placed to help those businesses succeed and in so doing has established a commercial model destined to deliver significant returns.”