Description: Employment law and Health & Safety services

Project: Re-launch business under new structure

Finance raised: Debt (LGS loan) and equity investment

Client Requirements

Two highly experienced executives in Employment Law and Health & Safety Services developed programmes and services to support SME’s.  Initially they had gone into partnership with a small legal firm to deliver these services, but the relationship proved extremely difficult and slow to develop.

Genesis was approached under the Mustard programme to assist the directors to dissolve the existing partnership amicably and restructure the business proposition so that it could be successfully launched.  The client also had several issues and concerns relating to the market place, product and company branding, staffing requirements, operational systems and structure and obtaining the necessary funding.

Approach to the Problem

The first task was to divest the business from the legal firm, which was achieved over a six-week period.  On achieving this a full market survey was undertaken to assess the viability of the product offerings, identify and review competition and develop a marketing strategy to enhance the mhl brand and image. Simultaneously the operations of the business were analysed and a staffing structure formalised based upon the financial forecasts agreed with the management.

A full financial plan and budgets were developed with the directors and 3-year forecasts produced to cover profit and loss, cash flow requirements and balance sheets.  From this information the funding requirements of the business were calculated.

Results and Client Benefits

The outcome of this detailed work produced a full business plan, which received a loan from the DTI Small Firms Loan Guarantee Scheme.  The company also secured an equity investment from a Regional Venture Capital Fund.

mhl support plc is listed on the mustard.uk.com website as “one of the most successful products of the Mustard.uk.com high-growth start-up programme.” According to Nick McKay, Founder and Managing Director, “with the guidance and support received from mustard.uk.com, Genesis Consulting and the Advantage Technology Fund, we were able to raise the finance and launch mhl”