Pretty Decent Beer Co
How did you hear about the Productive Valley Fund?
We heard about the Productive Valley Fund as a result of speaking to a fellow independent brewer. They recommended the Productive Valley Fund as being a super supportive and super accessible fund that suited the location that we wanted to move to.
How has it helped your business?
This has been an absolute game changer for our business. It allowed us to secure a new brewhouse which has allowed us to nearly triple our capacity in the last year production wise. It allowed us to move into a new taproom and set up a new production space. We’ve been able to grow the team as a result and we’ve seen the whole business triple in size over the last 18 months as a result of the Productive Valley Fund. The teams bigger, we can produce more beer, we can produce better beer, and more people are able to access us.
Would you recommend other businesses apply to the Productive Valley Fund?
I recommend the Productive Valley Fund, it’s amazing with the support the team give you. The level of business support and reviewing the funds and the application we’ve made was amazing. The team from day one were looking for a reason to say yes as opposed to looking for a reason to say no, and they live that throughout the whole process. It really focussed my planning and the teams planning over the next five years. It really helped us zero in on a goal we had and it helped us make stronger decisions. We think that our business planning is in a stronger position, not only as a result of the funds we’ve received but as a result of the feedback and support we’ve received.
How have the PVF team helped?
From day one the communication has been key. Sometimes as a small business you can feel a little bit hauled over the coals with funding applications. This one was collaborative. The team seemed fully invested in what we were doing and were not only looking to fund this but looking to stay in touch and looking for opportunities for growth. The team were a collaborative partner, and that makes them stand out in the world of business finance.
How has the PVF helped grow your business and your team?
The growth that this fund has unlocked has allowed us to create more jobs. Originally, we were planning over the next five years that this funding would create eight full time jobs. We’re up to our fifth hire already within nine months. It’s been really fast job creation. It will create more both in the borough of Waltham Forest and wider London as a result of this.
We feel really proud that we’ve been able to create local jobs. Around two thirds of the team live within a 3-mile radius of the site. We’re really excited that we’re able to provide and create jobs in a time where that’s not necessarily the case across the market and across the economy. It’s really been a driver in us become a job creator. It’s allowed us to work with other local businesses, we have partnered with Not Big Dough in Walthamstow. It’s allowed us to reinvest in our other site in Forest Gate.
Our turnover and sales have expanded, and we have a model where we donate 1% of turnover to causes that we believe will improve society, such as local foodbanks like Eat or Heat in Walthamstow, to local Pride organisations, to local sports clubs. We’re really proud that as we grow we’re able to increase the amount that we can support those and partner with different communities.
What was the process of applying for the PVF like?
The process was thorough, which allowed us to really dial in our business plan. I think our business is more robust as a result of the plans alongside the PVF. What was fantastic was the clear communication throughout. We weren’t given a firm answer from the start, but we were given an indication whether the fund was worth taking forward.
There was a clear vetting process right at the start, so you don’t go down a huge funding application only to find out it’s a no, which as small business owners we don’t have loads of times. It was important that this was clearly communicated and was time worth investing in the communication process.
The level of expertise in the fund was great. There were a variety of business backgrounds and perspectives that allowed us to answer questions that we’d never thought about before.
What I’d say to come prepared with is a clear idea of where you’re going. The fund is quite linked to locations and space in the Upper Lee Valley area, and there are some amazing spaces out there. As soon as you’ve found a place you’re moving to or a location that you like, get in touch early. They can help you shape those plans because the communication was great from day one.
Don’t think that everything has to be in place and that you have to have everything straight away there, be thorough, know exactly where you want to go, but get in touch early.