Member Article

Darlington entrepreneur helps other business owners after success of his own startup

Darlington corporate finance specialist Chris Adlam is helping companies across the North East to grow after setting up his own business with help from TEDCO Business Support and its Ready for Business programme.

Chris Adlam gave up a career in commercial banking to set up on his own and is now using his experience to help other businesses to grow.

Chris is now self-employed independent financial consultant working as part of The What Partnership franchise helping to provide support and advice to businesses as well as opening alternative funding routes.

Frustrated by the current lending constraints of the major banks, Chris decided to set up on his own turning to his former banking colleague James Craft, now a business adviser for TEDCO Business Support.

Chris said: “Having worked with James in corporate finance at a major bank, I knew he was the perfect person to approach when setting up on my own. Given my background, I had most of my ducks already in a row but needed someone to play devil’s advocate with me and challenge my thinking to ensure my business plan was robust and I had left no stone unturned.

“Knowing someone of James’ calibre recognised the potential in my business model gave me all the encouragement I needed to take the plunge and give up my safe career – even at a time when my wife and I were expecting our first child.”

“Within my first week of trading I had helped one local b2b business in Darlington to secure £100,000 for capital expenditure having been turned down repeatedly from mainstream banks.

“But it is not all about securing loans for businesses, I am helping companies with their succession and business continuity planning as well as commercial mortgages and as a purely independent adviser I am able to offer the best solutions for my clients rather than only those that are available to me.”

This was posted in Bdaily's Members' News section by Ellen Forster .