Businessman James knows his parents believe in him

Kate Middleton‘s brother James isn’t worried about his cake business making a loss of £17,000 in its first year of trading, as new figures reveal.

The 25-year-old’s company Nice Group owes creditors £32,575 but accounts state that the bank’s overdraft is ‘secured by a member of the director’s family’.

Kate‘s parents Carole and Michael are estimated to have earned millions through their website Party Pieces.

James had hoped to emulate his mum and dad’s success when he dropped out of the University Of Edinburgh in 2006 to set up his own ventures.

James – who started with the Cake Kit Company before launching Nice Cakes Ltd and Nice Wine Ltd – caused controversy last year when he started selling adult-themed confectionary.

The rude designs on the cakes included saucy pictures and messages such as: ‘Scrummy boobies that make my hands happy’ and ‘Boobies that jiggle when you wiggle’.

James insists he isn’t worried about losing money.

Nice Group is a start-up company and as you can imagine there are overheads needed to start a company,’ James tells the Mail Online.

‘I made the decision to finance the business myself along with a loan rather than go to investors.

‘It’s not uncommon for start-up companies to make a loss in the early stages of development and it is not something I am concerned about right now.’

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Anna Duff