'Becoming an entrepreneur is a really sexy term': MIC's Jamie Laing reveals he LOST £70,000 setting up his sweets business
He is the owner of confectionary company Candy Kittens.
Yet Jamie Laing, 32, has revealed how he lost £70,000 on expensive set up costs in the early days of the business.
Speaking to Emily Austen on The Busi-Ness Podcast the former Made In Chelsea star said: ‘We had a crazy bill. Something like 70,000 pounds.'
Teething problems: Jamie Laing, 32, revealed on Wednesday how he lost £70,000 on expensive set up costs in the early days of the business
In 2012 alongside Managing Director Ed Williams, Jamie launched Candy Kittens, an innovative, gourmet sweet range.
The entrepreneurs had a candid chat to host Emily about the initial hiccups and the reality of running a business.
Ed said: ‘In the early early days, to be honest, we made a lot of mistakes when registering the business and setting up the share structure and all of that sort of stuff.
Mainly because we just paid London accountants and lawyers to do that work for us, because we just thought, “okay”, that's what you have to do.’
Businessman: The entrepreneur's had a candid chat to host Emily about the initial hiccups and the reality of running a business
Business partner: In 2012 alongside Managing Director Ed Williams, Jamie launched Candy Kittens, an innovative, gourmet sweet range
The MD explained how they managed to rack up huge bills in the first year of Candy Kittens.
‘You get recommended to people through others, that probably don't run their own business, but actually just work at big businesses. “Oh, yeah, we use this accountant”.
'Well, of course you do, you’re a 100 million dollar company, of course you use that, but we didn’t need to. So we ended up with huge bills.’
Jamie went onto say: 'Yeah, it was ridiculous for our first year of accounting, and I know now we're paying a lot, lot less than that nine years later, with a significantly bigger business.’
The reality TV star also spoke about romanticising entrepreneurship and how some people just like the 'image of it.'
He said: ‘Becoming an entrepreneur is a really sexy term. So everyone wants to do it.
‘I think what's also important is that this sort of romance of becoming an entrepreneur is always what people like. And, for me, particularly in the beginning, it was fun, right?'
'I like dressing up in a suit and going to an accountancy firm. And being like, yeah, we have this business.
People like the image of it, which is fine, but it’s not theatre, it’s actually a real life thing so you kind of have to start to realise that.’
Pose: The reality TV star also spoke about romanticising entrepreneurship and how some people just like the 'image of it'
Earlier this month Jamie admitted he'd quit Made In Chelsea to focus on his sweet business that was hit during the pandemic.
The former Strictly Come Dancing star told MailOnline he's 'all or nothing' and wouldn't have enjoyed doing cameo appearances on the E4 series.
In an exclusive interview, Jamie, who hosts podcast Private Parts with Francis Boulle, admitted while he's loved being a cast member for ten years, 'there's no longer a reason for him to do the show'.
He said: ‘Becoming an entrepreneur is a really sexy term. So everyone wants to do it'
'It's a classic statement but I am stepping back 100 per cent. I love that show but also I'm 32.
'With a reality show you've got to really throw yourself into it and whatever I do I want to do it to my best ability and put my all into it and at the moment I can't do that and I have other things I need to do.
'I would just be on the side and truthfully I don't enjoy doing that, I want to be in the thick of things and I can't do that with Chelsea at the minute so for me there isn't a reason to do it.
'I am so all or nothing and I hate doing things halfheartedly. I got to hang out with my best friends and film and I don't regret any of it. We were so lucky in so many ways.'
Sweet cheeks: Jamie recently revealed he's left Made In Chelsea to focus on his sweet business Candy Kittens