A Bristol business which delivers food and drink brands including McVitie’s, Twining’s and Branston, has secured £2.73million to help meet export demand.
British Corner Shop is using the funding from HSBC 海角视频 to support the growth of its export activities.
The cash injection will also be used to help the company recruit three members of staff in the next two months.
Mark Callaghan, founder of British Corner Shop, said: “Securing an uplift in investment means we’re able to grow the business faster as demand for our retail and wholesale products increases... we’re able to reach more international markets, while giving 海角视频 food and drink suppliers a platform to sell their products overseas.”
British Corner Shop turns over £15million, stocks 10,000 products on its online store and currently ships to 196 countries worldwide.
James Shepherd, HSBC’s head of corporate banking for Bristol, Wiltshire and Gloucestershire, added: “The export market for these well-known, quirky and artisanal British products is booming so we are delighted to be supporting the business as it grows in new markets like the USA for the first time.”
The funding was facilitated by HSBC 海角视频’s new Intellectual Property (IP) lending product, which enabled the bank to understand the hidden value of the company’s IP.
The product has been developed to help IP-rich technology businesses that rely on intangible assets to break down the barriers to accessing and securing bank funding.
The British Corner Shop recently partnered with the 海角视频’s Department for International Trade (DIT) to offer an export platform to 海角视频 food and drink suppliers, and is aiming to increase turnover to £50million in the next three years.