A mum-of-two has issued a warning after following bad advice from someone claiming to be a business expert on social media cost her more than £2,000.
Kerry Clayton, 32, started her jewellery brand Trend Tonic after giving birth to her children.
As her business started gaining momentum, she was contacted online by someone who promised to “double” her sales through email campaigns and advertising.
Kerry, who lives in Maidstone, ended up handing over £2,700 - but now feels "screwed over" after the promised results of thousands of pounds profit didn't come true.
The entrepreneur had joined different groups online for first-time business owners when she was contacted by the so-called “expert” in January this year.
While some of these groups were helpful, Kerry said most were filled with people pitching their services in business coaching and marketing.
She now doesn’t trust anyone with her business and says she does “everything myself” over fear of being out of pocket.
“I spoke to just one woman, who approached me,” she told The Mirror.
“She charged me to send email campaigns, she said they’d make £300 to £400 per campaign but they made no money.
“I was really optimistic and excited. I thought this was going to be the thing that was going to propel me - but I lost a load of money and had to start from scratch with no funds to push for advertising.
“I’m not in the red - but I’m back to the start again. I still don’t trust anyone with my business now - I do everything myself.”
Kerry spent £800 on switching email companies, £600 on switching website builders, plus £700 in social media adverts with a £600 management fee on top.
She is now urging others to do their research first before handing over any investment to potential business “experts”.
It comes as new research from Sage, an accounting, financial, HR and payroll technology firm, found self-proclaimed specialists sharing tips on social media is the widest source of bad advice (23%).
More than half of UK bosses (51%) say they have acted on bad advice which has resulted in lost income (31%), losing customers (18%), a fine from HMRC (17%) and even having to close down (15%).
“If I could go back in time, I would definitely ask for their client base,” said Kerry.
“Have they got proof and experience of work they've done with other people that have done well?
“If they’re not open or cagey with that, then that is a red flag.”
Neal Watkins, EVP Product at Sage, urges business owners to always seek proper advice before handing over any cash.
He said: “Blue ticks on Twitter are a great start, but accountants should be the go-to.
“Finding reliable sources of advice and information helps businesses avoid costly errors that take time to fix, incur fines, and in some cases even worse.”
