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Don’t invest unless you're prepared to lose money. This is a high-risk investment.
You may not be able to access your money easily and are unlikely to be protected if something goes wrong.
Take 2 mins to learn more.
Be true to yourself and your customers. People buy from people.
13th September 2024
When it comes to luxury cakes, GC Couture stands out as a brand that has turned sweet dreams into a thriving business. We had the pleasure of interviewing the creative mind behind GC Couture, who shared her inspiring journey from dressmaking and graphic design to the world of elegant, bespoke wedding and celebration cakes. Driven by a passion for creativity and a knack for capturing beauty in every detail, she transitioned from baking in her home kitchen to showcasing her creations in Harrods.
Read on to find out more about Marie’s inspiring entrepreneurial journey.
C2F: Could you tell us a little about yourself and what inspired you to start GC Couture?
M:I have a background in dressmaking and graphic design and also with my love for making cakes felt I had the creative skills to transfer to making and decorating wedding and celebration cakes.
C2F: What was the “aha moment” that led you to realise there was a market for luxury cakes?
M: When I started to get multiple feedback from clients not only about the taste, but the look. design and quality.
C2F: How did you transition from an idea to a full-fledged business? What were the initial steps you took?
M: Started from my kitchen at home, learnt my craft, moved into a commercial unit, then into a retail shop - now we are in Harrods !!! :-)
C2F: What were some of the biggest challenges you faced when you first started GC Couture, and how did you overcome them?
M: Staff, learning how to manage and support. Learning how to say no and have confidence in my products.
C2F: Can you share a memorable experience or turning point that was pivotal to the growth of your business?
M: When I had my first meeting with a millionaire and realised we are all just people! He is now one of our regulars.
C2F: As an entrepreneur, what are the key qualities or skills that you believe are essential for an entrepreneur to succeed?
M: Be true to yourself and your customers. People buy from people.
C2F: What advice would you give to women who are looking to start their own business but are hesitant to take the leap?
M: Do it!! It will be extremely hard with challenges you will never be prepared for. Once you have that fire in your belly and determination to succeed, the rest will follow. AND be patient, it will come!!
What is next for GC Couture? Are there any exciting projects or plans on the horizon that you can share with us?
M: Yes, currently exploring the opportunity to open a retail GC Café!! Watch this space!!!
GC Couture is a returning client with an excellent repayment history. They recently over-funded and have raised a total of over £500k with Crowd2Fund.
Capital at risk. Tax treatment may vary.
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Risk summary for P2P agreements or P2P portfolios
Estimated reading time: 2 min
Due to potential for losses, the Financial Conduct Authority (FCA) considers this
investment to be high risk.
What are the key risks?
You could lose the money you invest
Many peer-to-peer (P2P) loans are made to borrowers who can't borrow money from traditional
lenders such as banks. These borrowers have a higher risk of not paying you back.
Advertised rates of return aren't guaranteed. If a borrower doesn't pay you back as agreed, you
could earn less money than expected. A higher advertised rate of return means a higher risk of
losing your money.
These investments can be held in an Innovative Finance ISA (IFISA). An IFISA does not reduce
the risk of the investment or protect you from losses, so you can still lose all your money. It
only means that any potential gains from your investment will be tax free.
You are unlikely to get your money back quickly
Some P2P loans last for several years. You should be prepared to wait for your money to be
returned even if the borrower repays on time.
Some platforms may give you the opportunity to sell your investment early through a 'secondary
market', but there is no guarantee you will be able to find someone willing to buy.
Even if your agreement is advertised as affording early access to your money, you will only get
your money early if someone else wants to buy your loan(s). If no one wants to buy, it could take
longer to get your money back.
Don't put all your eggs in one basket
Putting all your money into a single business or type of investment for example, is risky.
Spreading your money across different investments makes you less dependent on any one to do
well.
A good rule of thumb is not to invest more than 10% of your money in high-risk-investments.
The P2P platform could fail
If the platform fails, it may be impossible for you to collect money on your loan. It could
take years to get your money back, or you may not get it back at all. Even if the platform has
plans in place to prevent this, they may not work in a disorderly failure.
You are unlikely to be protected if something goes wrong
The Financial Services Compensation Scheme (FSCS), in relation to claims against failed
regulated firms, does not cover investments in P2P loans. You may be able to claim if you
received regulated advice to invest in P2P, and the adviser has since failed. Try the FSCS
investment protection checker here.
Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance.
If you have a complaint against an FCA-regulated platform, FOS may be able to consider it. Learn
more about FOS protection here.
If you are interested in learning more about how to protect yourself, visit the FCA's website here.
For further information about peer-to-peer lending (loan-based crowdfunding), visit the FCA's website here.
