Region: South West
Programme: Bounce Back Loan Scheme
Having launched in summer 2019 and experienced an encouraging start to life as a new business, this Cornish chocolate company had strong plans for the future. But once the COVID-19 pandemic asserted itself, the business had no option but to seek financial support in order to find new ways of working. For this, it turned to the Bounce Back Loan Scheme (BBLS).
Read what the business had to say in this BBLS case study.
British Business Bank: Can you tell us what your company does?
Josh Parker, founder and director of Josh’s Chocolate: The business launched in August 2019, producing premium‑quality chocolate bars and buttons which it sells at tourist attractions and in independent food stores across Cornwall. Parker Confectionery Ltd is the business behind the Josh’s Chocolate brand.
How did COVID-19 affect your business, and why did this mean you needed funding?
We’d had a promising start towards the end of 2019 and were looking forward to a busy Easter and summer season in 2020. However, those plans changed due to the growing extent of the COVID-19 pandemic and the national lockdowns, which had a severe impact on sales.
To lessen the effects of this, we applied for a Bounce Back Loan to help the business with its working capital and to diversify in order to sell its products online.
We were delighted to secure a Bounce Back Loan. Not only has it been instrumental in helping to keep the business going, it meant we could help keep our customers smiling with chocolate deliveries.
Josh Parker, founder and director of Josh’s Chocolate
Can you provide a specific example of how you used the funding to bring about a positive change (or changes) to your business?
The Bounce Back Loan has allowed the business, which employs one full-time member of staff and 10 casual employees, to continue with its planned growth trajectory. We launched our website in May 2020 and were able to drive volume through the site to maximise sales and profit in the build-up to Christmas. Since then, our turnover has increased month on month, and the option to buy our products online is proving popular.
Did the Bounce Back Loan allow you to feel more optimistic about the future of your business?
We were delighted to secure a Bounce Back Loan. Not only has it been instrumental in helping to keep the business going, it meant we could help keep our customers smiling with chocolate deliveries. Despite everything, we’ve seen growth through 2020 and into 2021 and we’re optimistic about the future.