Monthly Archives: November 2009

The Startup & The Scammer: A Real Story

Tell me what you think of this story. Last week I wrote about the unethical behaviour of so-called professionals involved in charging companies to help them obtain funding, get investment ready, or write their business plans. I closed by saying if you had head of anyone engaged in such practices to let me know.

This week I received an email from Nikki Hesford, the founder of www.missfituk.com, entitled “Not sure if I was being scammed?” She wrote to say,

“Hi Doug,

...

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UK Startups are Prey for Rip Off Artists Disguised as Angel Groups & Financiers, says Doug Richard

"Just to be clear . . . start-ups should not be charged to pitch their businesses to angel investors. . . . Corporate financiers do not make their money on [upfront] fees but by taking a percentage of the money raised."

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