GCSE.CO.UK and COVID-19 Misconception 🙄
I wanted to correct a misconception. It may seem like the GCSE.CO.UK platform was created and launched simply because of COVID-19. It is simply not true. The GCSE.CO.UK project started on 21 April 2017 originally under the limited company name “Get Educating”. Various events with my life/health meant that although I registered the company and initially created a website, I never launched the business or took any customers on.
After some time had passed, I decided to try again—this time with a more memorable name that does exactly what it says on the tin. I acquired gcse.co.uk and registered the company GCSE.CO.UK GROUP LTD on 12 May 2018 with Companies House, England. As you can see, it was years before COVID-19!
On 28 May 2018 HMRC approved GCSE.CO.UK for SEIS / EIS investment. The SEIS/EIS letter made my month; it was a happy time for me. We got approved lightning fast! I was shocked because I had been warned about how difficult and slow the process can be. In laymen’s terms, SEIS/EIS accreditation by HMRC means that if you invested in us, and we went belly up, then you could get up to 50% tax relief on your investment with us. I am not an expert on these things; please read this article if you want to learn more about SEIS/EIS here.
I had initially planned to raise investment through private equity, angel investment or crowdfunding. However, I don’t come from that world, and I don’t have the connections. I found it a minefield, and I gave up with regards to getting an investment (not sure if it was the wisest decision). Although I may be stereotyping a bit, I didn’t want to sell my soul and lose the creative freedom that our team currently has. However, we need to earn a living; but money is not everything to us. For example, at present, we offer families where the primary breadwinner is unemployed or on state benefits a substantially discounted rate. We may not be able to make offers like this had we taken investment from big organisations! I try to keep an open mind about these things, and I do hope I am wrong about this.
So far, we haven’t taken any investment, even though our project has enormous potential with zero debt. But we do need money if we are to get the word out to families and students who could do with our help. So, I am still interested in getting investment, but I need to find the time and to meet people I trust. In the meantime, if you or anyone you know wants to support a grass-roots project like GCSE.CO.UK, then we welcome donations or investment!