Building a successful business before you hit 20 is an incredible achievement in itself; one that Alex Broadley, BSc(Hons) Business & Entrepreneurship student, has been enjoying the fruits of. Not only is his Small Wallets business thriving, but Alex was also named by Transferwise as one of its ’20 Under 20’ of the UK and Ireland’s best entrepreneurial talent.
Alex told us: “I was really thrilled to be chosen as one of the 20, it was quite unexpected. I feel very privileged to be given this opportunity which really encourages me to keep going. It’s nice to be appreciated for all the long hours I put in to make it a success.”
The idea for Small Wallets came to Alex after he himself changed from a bulky wallet to something slimmer, and came to “realise the benefits of only carrying your essentials.”
Alex explained: “When researching the idea, I had initial success with a particular wallet brand, which proved there was a demand. At the beginning of 2018 I launched the website, with the aim to offer a range of the ultimate slim wallets.”
This summer marks the end of the first year of business for Alex, who credits the course for helping him to develop his business skills and enabling him to set up and grow his brand.
He told us: “Being able to build up a business in a safe environment and always having on the spot support from my lectures has been essential in developing my business skills and increasing my confidence as a business person. Being amongst other young entrepreneurs also makes so much difference. As with every business, you will face many challenges, so it’s been reassuring to share those hurdles with others.”
Being listed as one of Transferwise’s ‘20 Under 20’ in 2018 has been a huge help to Alex and his business, increasingly the visibility of the brand and enticing new customers.
Alex said: “Since the announcement the business has excelled, which has increased my confidence in running the business. I’ve been receiving lots of emails from various companies wanting us to stock their brand and have seen a substantial increase in the website’s traffic, helping spread the word.”
Alex’s current best-selling brand is the Secrid range, but they also offer wallets by Nodus, Grid, Double 00, A-Slim and Jekyll and Hide. Alex plans to widen this selection of brands in the future. Eventually, he would like to design and launch his own bespoke, small wallet brand.
For now, Alex is enjoying his achievements so far, cracking on with his course, and focussing on his customers. He is also in the process of developing the business to include corporate engraving, after successfully engraving some wallets for a client last Christmas.
He said: “It’s very rewarding to be maintaining a successful brand and pleasing lots of customers. Just read our reviews on Trustpilot!”