Five questions for… James Ecclestone, The Grown Up Chocolate Co.
We make, by hand, a range of chocolate confectionery that we distribute ourselves. We sell to the domestic UK market and export to markets such as Australia and Canada.
What does your firm do?
We make, by hand, a range of chocolate confectionery that we distribute ourselves. We sell to the domestic UK market and export to markets such as Australia and Canada.
What's been your greatest achievement so far?
Managing the logistics of moving the production kitchens from Enfield to Harlow in 2016 was a daunting exercise, but we managed it almost seamlessly. Being awarded the contract to supply Virgin Atlantic was a really exciting moment for us. Above all, we've brought our range of products to market from a theoretical concept: having launched in 2012, when we turned over next to zero, this year we will turn over £2.3m.
What has been your biggest challenge?
Managing our growth: we've had to work how out how to cope with the expansion of production needed by the business to support turnover that has risen by 40% each year for the last four years.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
What are your plans for hitting your targets this year?
Despite the pressures on input prices and the recruitment difficulties we're seeing both because of Brexit we are optimistic about our prospects of meeting our budget this year. We have recently signed a US distributor and we expect this to add £500,000 to our turnover in the first year of the agreement.
What's the one piece of advice you'd give fellow entrepreneurs?
Don't be shy about asking for help. When you are starting out, you shouldn't have any qualms about using friends and family for support.
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
A junior ISA could turn your child’s pocket money into thousands of pounds
Persuading your child to put their pocket money in a junior ISA might be difficult, but the pennies could quickly grow into pounds – and teach them a valuable lesson about money
By Katie Williams Published
-
Cost of Christmas dinner jumps 6.5% as grocery price inflation rises again
The average Christmas dinner for four now costs £32.57 as grocery price inflation increases - but what does it mean for interest rates?
By Chris Newlands Published