Seeking Capital: Navigating Financing Options for My Growing Business

It’s been four years since I embarked on an entrepreneurial journey, and now I’m at a pivotal point where securing capital is essential for the next phase of growth. Allow me to share my story and seek your expert advice.

The Beginning: A Risky Venture

In the early days of the pandemic in 2020, I noticed a growing demand for delivered vegetable boxes in Yorkshire. At just 25 years old, I had recently lost my job in construction and was grappling with financial instability. Armed with little more than a vision and stock images from Google, I took pre-orders to raise initial funds. I dove headfirst into sourcing fresh produce wholesale, initially focused on value and volume, hoping to create a sustainable business beyond the temporary trends of the pandemic.

As customers responded positively, I expanded my offerings to include local baked goods and meats. Setting up a website brought my vision of a “farm shop on wheels” closer to reality. After months of hard work, I was able to purchase my own van, which allowed me to streamline operations and fulfill an impressive 100 orders daily—a feat not without its challenges. Along the way, I learned important lessons about managing costs and avoiding wasteful expenses.

Evolution to Business-to-Business

As the pandemic’s initial impact waned, I pivoted from a retail-only model to serving local cafes and restaurants. This transition was capital-intensive and often felt like a precarious balancing act, using supplier credit terms to maintain cash flow while building a diverse product range. I even automated order processing through an app and managed my own bookkeeping using Sage 50—all while operating solo.

Today, I’m proud to report that my turnover is projected to reach around £700,000 in the next 12 months, based on stable weekly sales of £14,000 to £17,000, though profit margins remain tight. Surprisingly, vegetables now make up only 8% of my revenue as I have diversified my offerings significantly.

The Capital Challenge

Despite this progress, a persistent challenge looms: I am still hampered by low capital. I estimate that an investment of approximately £40,000 is necessary to secure a reliable supply chain, upgrade my facility, and invest in inventory. With this funding, I could hire additional staff and expand my delivery routes, unlocking substantial growth potential.

However, my past has made traditional funding routes complicated. After damaging my personal credit score at age 19