An entrepreneur from Birmingham is expanding his successful spectacle company with the opening of a new retail site creating five new jobs.
Ahmed Ejaz has opened a new branch of his Cambridge Spectacle Co in Hornsey, London, creating five jobs in the local area. The company also has two stores in Birmingham and Cheltenham, and employs 15 people across its three sites.
Trained optometrist Ahmed founded the company in 2021, with an ambition to design and manufacture glasses frames, combining expertise with style to create beautifully designed eyewear.
To support his business as it grew, Ahmed joined and completed the NatWest Accelerator programme in Birmingham, which will be celebrating its 10th anniversary in March.
As the biggest bank for start-ups in Great Britain, the NatWest Accelerator supports UK entrepreneurs and empowers them to scale their businesses to the next level, through coaching, a programme of thought leadership and events, access to a network of like-minded peers and full-time use of a modern co-working space.
Cambridge Spectacle Co’s annual turnover from starting the Accelerator in 2022 grew from £2,000 to more than £600,000.
Ahmed said: "Our time on the NatWest Accelerator has been critical to our success as we were given the time and space to develop the business and plan strategically for what’s ahead. The Accelerator community has also been invaluable as we have been able to work with like-minded entrepreneurs who understand the day to day of running your own business and scaling it.”
While on the Accelerator the business raised £150,000 in investment funding from a single Angel-investor. Since then £500,000 has been raised by a mix of HNW Angels and a separate funding round on Crowdcube in which 100 backers funded the company.
Ahmed said: “My coach in the hub provided a lot of support with our initial round of investment - so we went on Crowdcube for a round and my coach mentored me at that stage to ensure it was a success. We even had some backers from within the Accelerator community who invested at that stage.
“We are incredibly excited about the new store in London which supports our long-term growth goals. We know that for many glasses wearers, trying before you buy is essential so we are pleased we can expand this offering.”
Harinder Kunor, accelerator community manager at NatWest, said: “We saw huge potential in Ahmed when he joined the NatWest Accelerator in Birmingham. It’s a testament to his hard work and determination to see the Cambridge Spectacle Co really take off with three new stores set up in the space of little over a year – including the latest store in London – creating new jobs for the area.
“As the UK’s biggest bank for start-ups, at NatWest we understand that every business is unique and to build a path to growth entrepreneurs must be equipped with funding and selling knowledge, coaching and an empowering community. With Cambridge Spectacle Co we were able to support Ahmed to develop a strong business plan to prepare for the businesses’ expansion and help it cut through in a crowded market.
“Ahmed thrived in his time on the NatWest Accelerator due to his ability to think ahead and continuously adapt to changing circumstances. We can’t wait to see what he and his team achieve in the future.”
