LEADERSHIP
CEO IN FOCUS:
JUDITH TOTTEN Judith Totten launched Upstream Working Capital in 2011, and has enjoyed strong growth since then, expanding operations from Northern Ireland to support businesses across the UK with loans of up to £2.5m. BLM talked to Judith about her journey from ‘taking a punt’ in the early days, to her passion for supporting business – and why she’s learned she’s ‘a bit of a rottweiler’ at times…
CAN YOU TELL US ABOUT UPSTREAM WORKING CAPITAL? I started the business after a career in banking in about 2011, with nothing. I had no cash, no customers, no staff, but I knew there was an opportunity because the banking crisis was at its height and I realised a lot of SME companies were going to struggle for working capital. So I went out and raised some money from friends, family and fools, as they call it, and I remortgaged the house and frankly took a punt. Today we have over 100 clients, we 44
have over £100m out the door, and I have 12 full-time staff. WAS THERE A ‘LIGHTBULB’ MOMENT WHICH CONVINCED YOU TO LEAVE MAINSTREAM EMPLOYMENT? I guess not a lightbulb moment, it was more a big birthday! Turning 40 made me realise that if I didn’t try something different – maybe I never would. I was also seeing a looming bank crisis impacting my ability to help customers do what they wanted and required in order to progress – I know I would have struggled with that.
HOW BIG WERE YOUR AMBITIONS AT THAT TIME? Honestly, I had no concept of what I was going to do, what I wanted to achieve and even whether I could actually do it. I just felt instinctively that I could do things differently and make some small difference to business owners. HOW HARD WAS IT TO GET OTHERS TO BUY INTO YOUR VISION? Once they got over the initial surprise of me leaving a secure job in the bank, I got nothing but support and help from everyone March - April 2020
