More than lip ser­vice, Rose is a ris­ing busi­ness star in the UK

Yorkshire Post - Business - - FOCUS ON SMES - Greg Wright DEPUTY BUSI­NESS EDITOR @greg­wrightyp

FIF­TEEN-year-old Rose Dyson de­cided to set up a busi­ness in­side her fam­ily’s kitchen be­cause she was tired of see­ing York­shire shop­pers be­ing forced to pay “ex­tor­tion­ate” prices for lip balms.

Three years later, her vi­sion and am­bi­tion have earned her a place among the top young busi­ness peo­ple in Bri­tain.

Ms Dyson, from Barns­ley, launched Pura Cos­met­ics, which pro­duces a range of eth­i­cal lip balms, with a £25 in­vest­ment in 2015. Last year, the busi­ness turned over £50,000.

She has now been in­cluded among the top five teenage en­trepreneurs in the coun­try in a com­pe­ti­tion run by Trans­fer­wise, the fin­tech busi­ness. The pay­ments com­pany Trans­fer­Wise searched the coun­try to iden­tify the 20 most promis­ing CEOs, aged 16-19, who have the abil­ity to be­come in­ter­na­tional suc­cess sto­ries.

One of the judges of the com­pe­ti­tion was the in­vestor and ad­viser Robin Klein, gen­eral part­ner and co-founder of Lo­calGlobe.

He said: “Rose lives her busi­ness and has de­vel­oped an orig­i­nal range of prod­ucts – orig­i­nal­ity in the beauty busi­ness is re­ally im­por­tant.”

The other judges cho­sen to se­lect the ‘20 Un­der 20’ in­cluded De­liv­eroo CEO and co-founder, Will Shu; Se­cret Es­capes co-founder and COO, Tom Valen­tine; Brolly CEO and founder, Phoebe Hugh and WAH Nails founder and colum­nist, Shar­madean Reid.

Trans­fer­Wise was cre­ated by Skype’s first em­ployee Taavet Hin­rikus and his co-founder Kristo Käär­mann.

The com­pany launched in 2011 and is now one of the world’s most suc­cess­ful fin­techs hav­ing raised $397m from in­vestors, in­clud­ing Sir Richard Bran­son, Pay Pal co-founders Max Levchin and Peter Thiel.

Ms Dyson, in­set, was also cho­sen as one of the top five young en­trepreneurs and re­ceived the op­por­tu­nity to pitch to Mr Hin­rikus for up-to £10,000 of no-strings at­tached in­vest­ment, dur­ing a trip to Es­to­nia.

Ms Dyson’s pitch was suc­cess­ful and she plans to use the cash to grow her busi­ness. The York­shire Post Ms Dyson told that she de­cided to es­tab­lish Pura Cos­met­ics af­ter spot­ting a gap in the mar­ket for lip balm.

“I thought the price was re­ally ex­tor­tion­ate,’’ she said.

“I started man­u­fac­tur­ing from my kitchen.”

Ini­tially she made and sold 25 lip balms. She put the pro­ceeds back into the busi­ness and started to sell her prod­ucts on lo­cal mar­kets.

She said she was de­lighted to se­cure the in­vest­ment, adding: “I can do so much more in terms of ca­pac­ity, es­pe­cially in the run-up to Christ­mas.”

She plans to start sup­ply­ing shops next year and hopes in the longer term to reach in­ter­na­tional mar­kets. Ms Dyson said she wanted to in­spire other young en­trepreneurs who wanted to fol­low in her foot­steps.

“You should just go for it, you’ve got noth­ing to lose and don’t be afraid to ask for help,” she said.

Trans­fer­Wise co-founder and chair­man, Taavet Hin­rikus, said: “There’s an as­tound­ing level of de­ter­mi­na­tion and cre­ativ­ity out there amongst young peo­ple, our 20 Un­der 20 proves that.

“But grow­ing a busi­ness glob­ally is a jour­ney that needs a lot of sup­port, and with­out the ben­e­fit of wide net­works built from years of ca­reer ex­pe­ri­ence, it can be tough for teen CEOs to find those peo­ple to lean on.

“We want to help the bright­est teen tal­ent with prac­ti­cal sup­port.”

We want to help the bright­est teen tal­ent with prac­ti­cal sup­port.

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