Steven Daniels, from Somerset, says the Super Rope Cinch – which secures ropes without needing to tie knots – will revolutionise the way people use ropes in their daily lives, much like the cable tie, Velcro or zip did in their respective markets.
Steven’s belief in the product is so great he is also selling four properties to raise the capital needed to invest into the business. He says, “In order to respond with speed to the huge surge of interest in the Super Rope Cinch and to capitalise on the numerous sales trials going on across Europe, I have to be able to access funding quickly and the quickest way to do this is using crowd funding. The traditional finance route just isn’t nimble enough to respond to the market’s requirements.”
Using peer-to-peer lending site Crowdcube, Steven’s request for funding went live last week and investors have already pledged funds for a share in the company.
Michael Taylor from Pearson May Accountants, who have acted for Steven for over 20 years, adds, “Raising funds for working capital is one of the most difficult areas for start ups and small businesses. We are seeing increasing numbers of businesses sourcing investment through crowd funding we understand it can be a very speedy process. Based upon the success of the Super Rope Cinch in America, we cannot see why the product wouldn’t be a big hit this side of the pond too.”
