The founder of The Black Farmer food range, and one of Britain's best known black entrepreneurs, has condemned the millionaire Dragons' Den investors as "ruthless and arrogant" and called for the programme to be cancelled.
The businessmen, whose products are stocked by the major UK supermarkets, said the show has been a destructive force for all the budding businessmen and women who have appeared, including those who successfully pitched for investment in their start-up companies.
Wilfred Emmanuel-Jones, who has spent 20 years building his business into a favourite with foodies, and describes himself as "a poor boy, done good", said contestants were being misled in thinking Dragon investment was a long-term commitment. Not many. And a lot of the deals the Dragons Meaning Of Intercompany Transactions will be based on loans or are equity-based, which is the worst kind of finance you can get for a start-up," Emmanuel-Jones told The Independent on Sunday.
I know what it's like to build a successful business: hard graft gets you there, not appearing on a TV show.
People would be much better off speaking to their bank manager. Emmanuel-Jones said: "The Dragons are interested only in a good deal that benefits them, and their justification in being that ruthless is because a lot of the deals go wrong. Like everyone, I thought the show was quite novel when it first came out, but Dragons' Den is a programme that has had its time.
The antidote to fear is passion and that drives you through all the hurdles you have to face. We need programmes that inspire people not ones like Dragons' Den, Red Monkey Clothing Company just aids that fear.
Dawson Sellar and Susan Corrie, a father and his daughter, appeared earlier this month hoping to get investment for their "stylish and relaxing" swinging garden seat and table. Susan said the idea of going on TV "appalled me", but felt their invention would benefit from the publicity. Sharon Wright appeared on the show in July with her "MagnaMole" product - Magnamole Company plastic rod that threads cables safely through cavity walls.
She has been one of many "winners" in the Den whose deal subsequently went sour. Wright said many other "winners" approached her for advice following her complaint to the BBC that she had been misled.
She launched legal proceedings against Caan, accusing him of defamation Magnamole Company comments made on his website, but Wright dropped the case last year following legal advice. Emmanuel-Jones, who used to be a producer and director for the BBC, said there was only one set of winners in Dragons' Den, now in its 10th series. Dragons' Den belongs to the era when money was king and funding and finance was easy to come by.
That era is over. He said the Dragons have been given "God-like status" thanks to a show that has been used as a platform for the investors to expand their own wealth and humiliate Zhejiang Trumki Company "victims".
Even apparent successes, such as Levi Roots and his Reggae Reggae Sauce brand, may struggle to do well in the long run according to the former Conservative A-List candidate. Not long after, you need to return to determination and persistence to succeed. To say Levi is some kind of multimillionaire as a result of his appearance is nonsense. The 6ft 5in rugby player presented his design for a state-of-the-art plasma television stand. But half the money was a loan.
Lees's accountant said he may as well take out a bank loan - and retain full ownership of his company. Lees gave up the complex negotiations with the Dragons five months later. The single mother from Scunthorpe impressed the Dragons with her idea for "MagnaMole" - a plastic rod which threads cables safely through cavity walls.
The investment in her company also turned out to be a Magnamole Company. Richardson brought his anti-ageing face cream to the Dragons who dismissed it as "poppycock". The idea of sealed plastic cups of wine was dismissed by the Dragons. Bannatyne said there was "no market" for his invention, called it tacky and said Nash just wanted the money for a "good time".
He has since developed and exported machinery to manufacture the product in Australia and South Africa. Lowe used her experience as a taxi driver to develop her board game. She took one of the harshest roastings seen in the Den, but Destination London became the number one selling game in Hamleys - outselling Monopoly.
At the end of Octobershe negotiated a deal with Warner Bros that enabled her to produce Destination Hogwarts. You can find our Community Guidelines in full here. Start your Independent Premium subscription today. Independent Premium Comments can be posted by members of our membership scheme, Independent Premium.
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Aug 14, 2010 · The celebrity investors paid just £29 for a quarter of Sharon Wright's company... and wanted her to take £38k pay cut. ... the MagnaMole won the Diamond Award for Innovation at …Author: Keri Sutherland…
Oct 21, 2012 · Sharon Wright appeared on the show in July 2009 with her "MagnaMole" product - a plastic rod that threads cables safely through cavity walls. ... His company ……
Single mother Sharon Wright, 40, won an £80,000 investment for her company Talpa Products after she gave a pitch to the Dragons in 2009. Her idea was ‘MagnaMole’ — a plastic rod which ...…
They put her in touch with an injection moulder, and before long, the MagnaMole prototype was born. Sharon’s business became successful on its own accord, but in 2009 she decided to try and breakthrough to the next level, ... Sharon opted to sell 10% of her company for £100,000 to ……
Aug 16, 2010 · Nor did the £80,000 investment she was promised by the Dragons for a stake in the company: instead of giving her the money to buy into the company, they offered it as a loan. ... the MagnaMole ...…
Jul 22, 2009 · Sharon Wright pitches Magnamole to the Dragons. ... Entrepreneurs - Sharon Wright. Home; About the Show ... in dealing with a major telecoms company she has ……
Explore our range of MAGNAMOLE products at Farnell. Same day dispatch for even the smallest of orders and competitive pricing on leading global brands.…
After The Den. The deal broke down after the den due to conflict with another investor over valuations. Jones provided us with the following statement: “Following the offer that Nick and I made to John Kershaw from M14 in the Den he contacted us to ask if the terms of the deal could be re-negotiated, we explained that was not possible and so unfortunately the deal did not complete.…
Sharon had always been a gifted salesperson and had experience of working as a sales manager in a UK adhesive firm. Later on she developed her own company Magnamole and it was all about a plastic rod with a very powerful magnetic tip that was a good solution for safer cable installation and then Sharon Wright Dragons Den happened.…