RiDO Rotherham Investment & Development Office

Spangles UK Ltd, the Rotherham based fashion jewellery company, shone in London recently, finishing joint runner-up in the HSBC Bank ‘Start-up Stars’ business competition final.

Its founder, Joanne Coulson, reached the prestigious national final held at the Dorchester Hotel by virtue of being the competition’s North East regional winner.

After the Awards Joanne commented:

“It was great to be recognised as one of the country’s ‘Start-up Stars’ and to attend the awards at the Dorchester. Whilst we didn’t win the overall award, we were proud to represent the region and to show the spirit of entrepreneurship that abounds in this area.”

Now in their 10th year, the awards celebrate the achievements of the best new entrepreneurial talent in the UK with a judging panel that included Lord Digby Jones, Chairman of the International Business Advisory Board and Huw Morgan, Head of Business Banking, HSBC Bank plc.

Business Secretary Vince Cable praised the 16 finalists competing for the top honours, saying:

"The very best of British enterprise is represented at the HSBC Start-Up Stars Awards. The dynamism, innovation and hard work of these SMEs will help drive Britain's economic recovery now and for the future and will demonstrate yet again that the UK is open for business."

Spangles - which imports fashion jewellery and sells it via agents and the internet plus on a wholesale basis to boutiques, gift shops is based at Rotherham Investment and Development Office (RiDO)’s Century Business Centre at Manvers.

Joanne started the business in 2008, initially working from home, but as it grew quickly she took up the ‘business incubation’ support package offered by RiDO and moved into a business centre unit in January 2009.

Since then the company has grown from strength to strength, and has developed from having one small unit, to operating from an office and a warehouse unit with five administration staff, a local self-employed worker and 60 agents.

The company has expanded from the UK into Ireland, and is considering entering the European market and also selling other fashion products. It has been a successful and exciting time in 2010 for Joanne and her team and there will undoubtedly be more developments to follow.

Martyn Benson, the RiDO Business Adviser who has worked with Joanne since October 2008 said:

“ With sales and importantly profits that have doubled over the last year Spangles  performance so far means that it is definitely a ‘Start-up Star’ and an excellent example of the successful businesses we have In Rotherham and in particular within our business centres.”

RiDO operates four highly-successful business centres across the Rotherham area including Fusion @ Magna, Matrix @ Dinnington, Moorgate Crofts and Century Business Centre. The survival rates of companies in the Centres are well above average, with the one year survival rate at 97 per cent and the three year survival rate is 84.5 per, compared to the national average of around 60 per cent.