£10m Boost for South West Start-Ups: How Hospitality Businesses are Thriving

The South West's hospitality sector has received a significant financial boost, with over £10 million provided through the British Business Bank's Start Up Loans programme. The government-backed scheme has been instrumental in supporting new business ventures, including mobile drinks vans, artisan bakeries, cafes, bistros, and taphouses, since its launch in 2012.

This funding is part of a broader success story for the South West, which has benefited from more than £100 million in financing for start-ups across all sectors, helping over 10,000 businesses take their first steps.

The Start Up Loans programme offers budding entrepreneurs the opportunity to borrow up to £25,000 at a fixed interest rate of 6%, alongside free mentoring for a year to help their businesses thrive.

Supporting Local Entrepreneurs

Louise McCoy, Small Business Lending Commercial Managing Director from the British Business Bank, highlighted the programme's impact on the region:
"The Start Up Loans programme continues to help entrepreneurs in the South West turn their skills and ideas into thriving hospitality businesses. By boosting access to finance in the region we've helped thousands of local enterprises take the next step in their business journey and unlock their potential."

Three standout success stories demonstrate the transformative impact of the programme:

Glazed & Roasted in Cornwall

Leah Fontier and Jordan Jones transformed their weekend coffee venture into a full-time business with the help of the Start Up Loans programme. The couple used the funding to renovate a 1957 Citroen HZ, which now serves as the home of Glazed & Roasted, a coffee and donut van.

Stationed on the popular Camel Trail, their vintage van has delighted cyclists and walkers throughout the summer and even made an appearance in BBC's Beyond Paradise. Leah described their journey as "scary but thrilling," adding:
"Without the loan, we would still be working full-time elsewhere – and it's affordable to pay back."

The Acorn in Somerset

Chloe Widdows and Jim Thomson turned their love for local produce into a thriving business when they opened The Acorn, a café, bar, and bistro in Yeovil, in 2023. Drawing on Somerset's rich array of cheeses and ciders, the duo used two £15,000 Start Up Loans to secure premises and equip the venue on Church Street.

Since opening, their bistro service on Friday evenings has become a local favourite, and their monthly Supper Clubs, featuring six-course tasting menus with wine pairings, are consistently fully booked.

Chloe shared their gratitude for the programme:
"It's been a rewarding journey and one which we say would never have happened without the support of the Start Up Loan scheme and the British Business Bank."

Town Owl Taphouse in Gloucestershire

Adam and Celia Pilmer brought their vision to life with the launch of Town Owl Taphouse in Stroud. With a £25,000 Start Up Loan, they created a relaxed social space featuring craft beers, wines, and spirits from local producers.

The funding helped pay for the bar's tap wall, inspired by local poet Laurie Lee's "Town Owl." Celia praised the programme's support:
"We couldn't have done this without the Start Up Loan. Having this money behind us has made a big difference."

The taphouse has quickly gained a loyal following, hosting events such as Stroud Jazz Festival and a Tap Takeover by Electric Bear Brewing.

Continuing to Fuel Ambitions

The Start Up Loans programme, run by the British Business Bank, is designed to provide accessible finance for viable start-ups across the UK. With over £100 million already invested in the South West alone, the programme continues to fuel the ambitions of local entrepreneurs.

For more details and free resources on starting a business, visit the Start Up Loans website.