As it grows and grows we’re seeing more of the GBEA community connecting and working together, whether that’s entrepreneurs working with each other or partners.
One of the most prevalent areas of connection is with our Welsh partners, Development Bank of Wales.
In this series, we’ll be taking a look at how the Development Bank of Wales has been supporting members of the GBEA community.
Founder of Hilltop Honey, Scott Davies, first started keeping bees in 2011 and started producing honey from his parents kitchen shortly after.
Based in Newtown in Mid-Wales, Hilltop Honey started out small selling to local vegetable stores. Within 12 months, however, Scott’s small kitchen operation moved to a production unit after securing a micro loan from Development Bank of Wales..
Funding allowed Scott to invest in a 2,500sq ft unit and machinery which enabled the business to go after bigger clients and expand. Hilltop Honey secured shelf space in Tesco, Sainsbury’s and Fortnum & Mason.
The second funding round – a six-figure loan from the development bank – saw Hilltop Honey move to a 14,000sq ft production unit and allow it to consolidate its staff and machinery, while expanding its product range for certain clients.
After securing the loan, Scott said: “We are thrilled that our contracts with the major supermarkets are growing, but we needed to expand to fulfill our orders and to keep pace with demand for our products.”
Stephen Elias from the Development Bank of Wales said: “Hilltop Honey is a successful Welsh-grown business and a testament to Scott’s hard work and ambition over the past eight years. The development bank is committed to supporting food companies like Hilltop Honey and working closely with Scott to help him take the next growth step with our follow-on funding is what the development bank does best.”
If you have a business in Wales and are looking for more information on how Development Bank of Wales could support you, please get in touch with a member of the team here.