James Caan assists to build legacy in UK economy

by Thando Matutu 0

“We have finished with 15,200 businesses successfully launched [and are] creating thousands of jobs,” James Caan chairman of the Start Up Loans Company told CNBC Africa.

The Start Up Loans Company is a British based government funded initiative that provides start up capital and business mentorship for entrepreneurs in the UK. Caan believes that his success in business has been his passion for people.

“I have spent my entire career focusing on the importance of people’s value in business. Give people an ability to grow, opportunities, flexibilities and give them freedom which allows them to flourish into what they can be to be successful,” said Caan.

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Caan values education as a very important platform for business knowledge due to changes of time and business. Modern business functions on the backdrop of the internet, technology and globalisation. Although aged 42, he obtained a business degree from Harvard Business School despite his many years of success in business.

However, the sentiment he shares for academia in making a good entrepreneur doesn’t measure to the passion he has for people and business.

“My target was aimed at starting a thousand UK entrepreneurs, who would be essential in creating a thousand jobs. I was driven by the opportunity of job creation,” he said.

The government granted the Start Up Loans Company 100 million pound grant to create 15,000 of these businesses in the last two years. Distribution partners within the country scale was the business challenge.

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However, presently 30 businesses are enrolled on the program every single day, with 42 different partners 160 people across the UK assessing businesses, evaluating business plans and facilitating the funding of the business.

While many people believe that economics determine entrepreneurial success, Caan attests that people are the greatest resource.

“I have a reputation for picking people who flourish under my mentorship, money is the recognition of success once you have money, but [money] doesn’t become enough and then you evolve and want to share it with other people,” Caan said.