Andy Scott - He lost all his fortune, but he became a millionaire again.


When British businessman Andy Scott's taxi ran over and suffered broken legs and all his fingers, the accident was not the biggest problem he had ever had.



"The accident was the result of a mistake from me, I was crossing the street in Washington, D.C., early in the morning, and I was reviewing the emails on my phone, I didn't notice the cars at all, so I was hit by a taxi and threw me over the roof," Scott says.

The young British businessman was on a visit to the United States in 2008 after sailing his yacht across the Atlantic. When he was rushed to the hospital, the only thing he worried about at the time when he was 29 was the collapse of his business and company in Britain.

Scott, this self-made millionaire, built an empire of real estate, hotels, and bars, and was living a luxurious life. Besides the 38-meter yacht, Scott owned two private jets and two Ferraris.

However, it lost everything when the global financial crisis hit markets in 2008, after overborrowing from banks.

"When I was in my 20s, banks gave me loans generously," says Scott. Since I have never experienced an economic collapse in my life, I have not realized the downside of this generosity from banks. Then the financial crisis occurred, and I lost everything I had in the sense of the word. I avoided bankruptcy, but I lost about £6 million. The creditors have taken possession of everything I have."

Andy recounts that he was initially severely depressed, but then determined to rebuild his business and life.



"You said you have to trust yourself and believe in it, you've done it before, you can repeat it," he says.

That's what Scott has already done, and his London-based company Real Capital, 11 years later, has been able to record revenues of £30 million, and his fortune is said to be around £25 million.

Scott, who was born and raised in Portsmouth on the south coast of England, says his father-in-law

was motivated to make money, as he owned several candy shops.

Scott, now 40, who loves American football and loves boxing, began his career as a nightclub guard in Portsmouth in 1995 when he was 16.

He says: "The age is as young as it seems, but doing this work was legally permitted at the time, as I was large. The nature of this work may be rather harsh and rough, and I've been thrown twice, but I enjoyed my job as a nightclub keeper."

At the age of 18, he inherited £5,000 from his grandmother and decided to buy a very dilapidated house stuck to other houses.

He says: "Even at that time it wasn't that much money to buy a house, so I had to rebuild the house completely, and after selling it I was able to double the amount I had, and things went smoothly."

Scott then bought more houses to rehabilitate, renovate and then sell them.

He says that the number of houses repaired and sold has reached 250 by the age of 25, as well as the sale and management of hotels, bars, and barbershops.

It was 2008, and Scott could not walk again after the traffic accident three months later. In the face of his need for work, he returned to work as a guard and also as a construction contractor.

He did not resort again to buying real estate, explaining that no one "did not want to lend to someone who had almost reached bankruptcy".

Finally, a friend agreed to lend him some money, which he used to turn a neglected church and a former movie theater into nightclubs.

The two projects have been successful and Scott says he has been able to build his business and investments again from these projects while being very motivated to seize acquisition opportunities.

His company currently owns a chain of bars, transport companies, recruitment companies and a company that is committed to organizing music festivals.


"My investments are diverse, and I have work experience in all the sectors in which we operate. The thing we specialize in is buying and restarting companies that are in trouble but have a strong presence. Like a 10-year-old company that's about to cease its operations."

Scott describes himself as a "dealmaker", and after buying any new company he begins to appoint managers to manage it and says: "I learned very early on my strengths and weaknesses. I'm very bad at detail, but I'm very good at numbers, making deals and moving forward."

When Scott recalls how he succeeded in rebuilding his business empire, he says it was very frustrating when A bank refused to support him again.

He adds that banks in the United States are "more tolerant" of businessmen and women who suffered a setback for the first time.

Eleanor Shaw, professor of entrepreneurship at Strathclyde University in Scotland, agrees and believes Britain needs to track the US in dealing with businessmen.

"Businessmen in the United States aren't necessarily bad just because they've failed in the past," she says.

"Quite the contrary, investors are interested in applying what they have learned from experience, and what they can do differently if they get financial funding."

"It would be useful in the business of Britain if we reassessed our relationship with what is called failure, and recognized it as an opportunity to learn from," she says.

Julian Birkenshaw, professor of entrepreneurship at the London Business School, says the situation has improved in the UK technology sector but has not yet improved in other economic sectors in general.

"I am brought in by many people who have failed to invest in technology and have since been able to get funding from banks. As long as you can show what you've learned, and how you've turned your interest into a new opportunity, the desire for funding remains."

Scott, who runs his London-based business, says that although his investments and businesses are now larger than they were before 2008, he is now living a more modest life.

He adds: "When you lose everything it makes you more humble. I learned from my mistakes, I used to owe the bank a lot of money, but now I don't have debts. I used to own two Ferraris, but now I have a motorcycle or just walking on my feet."

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