Success Story
Bangor-based Snowdon Timber Products unlocked a stream of potential business avenues following a £100,000 finance package from the Investment Fund for Wales.
| Region/Nation | Wales |
|---|---|
| Sector | Wholesale and Retail Trade |
| Programme | Investment Fund for Wales |
| Partner |
Snowdon Timber Products, based on the Llandygai Industrial Estate, was established towards the end of 2019. After experiencing a fluctuation in sales following Covid it has secured £100,000 of funding through the Investment Fund for Wales Smaller Loans fund delivered by BCRS Business Loans.
Last year they were accepted to sell on the B&Q Marketplace, which hugely boosted sales, and they now ship their timber to businesses and customers across the UK. With this growth came the need to invest in stock and that is where the Investment Fund for Wales came in.
The finance has enabled Snowdon Timber Products to invest in stock, whilst they’ve also retained all staff and employed two further full-time members, as well as recruiting into a number of temporary positions.
This funding has unlocked the potential of the business and without it, I think we’d be pretty stagnant. Instead, it’s allowed us to take the business in the direction it needs to go and we’re hopeful that through the B&Q Marketplace avenues that we can start selling outside the UK.
Last year was a huge milestone for us, and we’ve just exceeded last year’s turnover mid-way through the year. We are really optimistic and proud of the way the business is growing. Earlier this year we were in a catch-22 situation where we could see potential growth but needed investment. This funding has now unlocked our potential – we’re seeing defined growth and are looking forward to the next chapter. - Jody Goode Director, Snowdon Timber Products
Tags related to this content:
Quick links
More success stories
Read a success story about Ruuby
An on-demand beauty marketplace, which allows customers to order a host of beauty services to their desired location, has raised £2m to accelerate its growth in the North West by doubling down on its existing operations in Manchester and Liverpool.
Read a success story about Power Roll
Based in Murton, Power Roll, a pioneer in the solar energy transition, has raised £4.3 million in its most recent funding round, including £1.5 million from NPIF II – Maven Equity Finance, which is managed by Maven Capital Partners as part of the Northern Powerhouse Investment Fund II.
Read a success story about Xentra
A fast-growing Leeds cybersecurity company secured a six-figure loan from NPIF II – Mercia Debt Finance, which is managed by Mercia as part of the Northern Powerhouse Investment Fund II (NPIF II).