From startups to large corporations, many companies eagerly anticipate the arrival of summer, recognising its immense potential for boosting sales and expanding customer bases.
According to research by MoneyTransfers.com, and to the advantage of many UK small businesses, a little more than 40% of Brits are planning to holiday in the UK in 2023. It will be welcome news to those looking to make the most of summer trading, including thousands of Start Up Loans recipients across the country.
With that in mind, I’d like to share the story one of our inspiring Start Up Loans recipients, Arron Smith, Founder of Coffeesmiths, who told us what summer means to him.
Coffee aficionado Arron Smith had worked with coffee for 11 years and, whilst he had learned a lot, he eventually wanted to be his own boss, especially as many of his family friends were entrepreneurial. So, in February 2022, he decided to take the plunge and Coffeesmiths was born. Arron started out selling coffee in Norwich from a beautiful, converted horsebox part-time, before committing to his business dreams full-time in December last year.
The future of Coffeesmiths is looking bright and Arron has many plans for expansion:
“The trailer is fully booked for 2023 from February-October. We are currently hiring staff and we are looking to have an incredible summer with repeat events from 2022. If summer goes well, we will look to open premises number two before the end of 2023. This will become the new base for Coffeesmiths, with more opportunities for more food options and some more amazing local businesses to get on board.”
Summer provides a great boost for small businesses and I am hopeful for what the upcoming months have in store for our Start Up Loans recipients. It is key for these businesses to be in a strong position as the summer approaches in order to capitalise on the seasonal surge in consumer interest.
In addition to providing fixed interest loans of up to £25k, the support and guidance offered by Start Up Loans Business Support Partners (BSPs) and our Post Loan Support Partner (PLSP) plays a significant role in bolstering the confidence of aspiring entrepreneurs and helping them achieve their business goals. We know the additional help is something that is valued by business owners and is not something traditional lenders can so easily provide.
Start Up Loan recipient Will Smith, founder of Ballywilliam Barn told us “Access to the pre-and-post loan advice and guidance was crucial, and is ultimately what attracted me to Start Up Loans as a lender.”
Ongoing mentoring and the support given during the application process, as well as after receiving a loan, has always been an important part of the Start Up Loans programme and we’re pleased to be announcing Virgin StartUp and BizBritain as the newest national Business Support Partners. They will work with the programme to deliver funding and support for small businesses over the next two years, supporting growth and innovation across the UK.
Similarly, while many existing businesses are looking to ramp up their sales during the warmer months, many budding entrepreneurs are also looking to use it as a platform to launch their enterprises. Across the country, we continue to see a great appetite among individuals looking for loans to turn their business ideas into reality. In fact, we’ve just reached our latest milestones in Scotland and Wales.
As Start Up Loans passes its latest regional milestones, it’s clear that the optimism of UK entrepreneurs is as resilient as ever. Meanwhile, we remain wholeheartedly committed to assisting any eligible individual in the UK to become their own boss.