Levi Roots thinks Dragons' Den is lacking in 'punch' these days
Reggae Reggae Sauce founder Levi Roots thinks the 'Dragons' Den' entrepreneurs - "apart from Peter [Jones]" are a "little bit tame now" compared to when he was on the BBC show in 2007.
Levi Roots thinks ‘Dragons' Den’ is lacking in "punch" these days.
The 66-year-old businessman has amassed £30 million fortune since successfully pitching his Reggae Reggae Sauce to entrepreneurs Peter Jones and Richard Farleigh on the BBC programme in 2007 but thinks that show's current crop of dragons are all a "little bit tame" now.
He told the Daily Mail's Eden Confidential column: "The dragons had a bit more punch to them.
"They're a little bit tame now - apart from Peter [Jones]."
In its current state, the panel of dragons is made up of Deborah Meaden, Touker Suleyman, Sara Davies and Steven Bartlett but Levi is not sure he would be as successful if he entered the show now.
He added: "It's become a little bit more straightforward."
Levi had originally been given a £50,000 investment with a planned 20 percent stake in the business for the two dragons before that was doubled to 40 percent.
He noted that it felt like he had "won the lottery" at that time and the experience proved to him that he could be successful.
The star - who "spent a long time pitching to banks " in a bid to get a "big surplus of cash" to grow his business - told NatWest bank as part of its 10-year Accelerator Anniversary event: "I’ve always said that I didn’t turn into who I am overnight just because I appeared on a reality TV show. The ability to start up a business is a skill I was born with. All I needed was to get beyond certain doors that were closed to me.
"Ever since the day I entered the 'Dragons' Den' and joined forces with Peter Jones, the doors which had seemed closed to Caribbean food and drink businesses in the UK, are now open.
"The experience gave me the opportunity to prove that I could be successful.
"I had spent a long time pitching to banks and looking for the big surplus of cash I needed to grow my company. So, when I was offered my deal on Dragons Den I felt I had won the lottery.
"But I quickly learnt that £50,000 worth of venture capital investment was a drop in the ocean compared to the investment that was needed to get the business off the ground.
"Just like me back then, many people believe that money is a shortcut to success. That it means less sweat, but that's not strictly true!
"Hard work is what makes the cash. The investment only opens the first important door. The start-up phase is very much about planning the long-term view and seeing the bigger financial picture."
