Alan bites the bullet to become his own boss

Jun 8 2009 by Karen Dent, The Journal

A FINANCIAL expert who was made redundant and found himself struggling to find a job during the recession is going it alone with his own business.

Alan Wigham worked at a finance broker, but his failure to find alternative employment during the economic downturn persuaded him to think about forming his own company.

Now, just over a year after his former employer closed, he is his own boss at Safeguard Commercial Finance, which provides specialist financial advice and support for companies across the North East. Mr Wigham, who is from Stanley, said: “Even though I have lots of experience as a finance broker, it was still a big jump to go self-employed.

“When I was made redundant there weren’t a lot of jobs being advertised. I applied for a few positions in banks but was always pipped at the post. It was several months later that I decided to bite the bullet and start up my own business.”

He approached Be Enterprising, part of County Durham’s Local Growth Initiative (LEGI), for business advice. It provides assistance for entrepreneurs living in unemployment blackspots in Derwentside, Easington, Sedgefield and the Wear Valley.

Be Enterprising helped Mr Wigham by providing a grant so he could buy equipment to launch the business as well as giving him funding for marketing and training.

Elliott Patterson, programme manager at Be Enterprising, said: “Alan came to us with an idea to start his own business but he needed advice on gaining access to funds.

“We worked with him to get his finance business off the ground and thus far his business is proving extremely successful. With his background and experience I’m sure that it will go from strength to strength.”

Safeguard Commercial Finance has already worked with around 20 companies, carrying out financial health checks and helping businesses identify sources of loans and funding.

Father-of-two Mr Wigham works from his family home in Stanley and also has an office in Low Fell.