Bank of Dave: Inspiration for Netflix film Dave Fishwick gives advice to entrepreneurs

The story of how Dave Fishwick became a self-made millionaire and founded a community bank in Burnley debuts on Netflix today.

Dave made his fortune selling vans and minibuses before founding Burnley Savings and Loans – also known as the Bank of Dave – to help people struggling to borrow from the high street with its no-frills loan model.

During and after the financial crisis, he was fed up with how companies struggled to get financing for vehicles and the rest is history.

He took matters into his own hands, set up a bank, hosted a hugely successful and award-winning Channel Four program and published a bestseller, though there were plenty of major hurdles along the way.

The film Bank of Dave follows how Dave, played by Rory Kinnear, took on London’s financial institutions and fought to get Britain’s first new banking license in over 100 years.

He has now borrowed nearly £30 million through his bank and has a three-year waiting list before people can open a savings account.

The film, which also stars Joel Fry and Bridgerton star Phoebe Dynevor, was released today on Netflix.

Dave, an old friend of This Is Money, writes a regular column giving our readers advice on setting up and running a small business.

We’ve reviewed some of Dave’s best columns on occupational medicine from the past year, as more people consider starting their own business, but face some headwinds.

I am nervous about quitting my high paying job to start my dream food truck business

I have been working for the same company for 20 years and feel ready for a new challenge. My passion is food and I want to start a food truck business. Am I cut out to be an entrepreneur?

Dave explains the benefits of starting part time to help understand the market before leaving a high paying job.

How can I pass on price increases at my bakery?

The costs at my small bakery have risen sharply and I have to pass those extra costs on to customers. I’m afraid I’ll lose loyal customers.

Inflation is one of the biggest concerns for small business owners amid the cost of living crisis. Dave talks our reader through the best way to charge costs and communicate with customers.

He says, “You can’t consistently beat your big competitors on price. However, you can beat anyone with your serve, so always use your strengths and give the best, most friendly service possible.’

My landlord raises my rent – should I move online?

I run a local butcher but am considering giving up my shop because the landlord is raising the rent. Should I only move online?

Dave suggests negotiating with the landlord, but notes that corporate rates are a barrier to many high street shopping. He advises our reader to look at fee relief for small businesses, as well as the benefits of diversifying the product range to help with repeat business.

How do I sell my company without employees finding out?

I have a small niche business employing 11 people and as I am ready to retire I would like to sell the business and buildings. How can I sell without my employees finding out?

Dave understands the moral dilemma of selling a business and admits he will have to answer this question one day.

He suggests selling the business to an employee or group of employees before talking to an established broker.

My son did not do well in his A levels and is at his wits end

My son received his A level exam results and did not do as well as he expected. Do you have any encouraging words?

Dave, who has no qualifications to his name, gives an invaluable pep talk to our reader’s son pointing out the benefits of apprenticeships.

He says: ‘I left school at 4 pm on a Friday afternoon. At 6:30 a.m. the following Monday, I was sitting in the back of an old construction company pickup truck, with sand blowing in my face, donkey jacket on, with a bottle of tea with milk in one bag and some beef paste butts wrapped in aluminum foil, stuffed in the Others. I was on my way to a construction site.’

Since then he has built several multi-million dollar companies.

“A setback, such as exam results, can, over time, be something you see as a necessary event to steer your son in the right direction. Adversity can make you stronger if you can turn disappointment into determination.’