CEDC ensures sweet ending for local chocolate business

Published by Nick Jones for Croydon Economic Development Company Ltd in Communities and also in Bill Payments, Local Government

Establishing a new business can be challenging at the best of times, and it looked as though things could turn sour for ace-chocolatier Tim Fisher when he found out that his bespoke chocolate company, Indulgence Confectionery, would need a new trading location following the closure of ‘Stuff Marketplace’ in the centre of Croydon.

Fortunately for Tim, and all chocolate lovers in the wider Croydon area, the Croydon Economic Development Company (EDC) stepped in quickly to help. In less than a week Tim had secured the necessary finance which has enabled him to move to a custom-built unit in the iconic department store, Allders in Croydon town centre.

Having successfully run the business as a retail outlet since the end of January Tim had established a loyal following for his unique range of chocolates but was faced with having to revert to being an internet business unless he could secure immediate funding to assist with re-establishing the business in alternative premises.

Having already worked with Croydon EDC during the Croydon Food Festival in 2009, staff quickly realised that they would be able to help Tim by using the Croydon Enterprise Loan Fund.

Keith Miller Croydon EDC Finance Manager said:

“The Croydon Enterprise Loan Fund is a £1million not for profit fund that has been supporting Croydon businesses with loan finance since early 2008.”

“Over the past two years we have assisted 80 businesses and have advanced almost £900,000 by way of loan finance. In addition they provide business planning support as well as a mentoring programme to successful applicants.”

“Funds have been used to help businesses develop and grow and have both created job opportunities within the borough as well as safeguarding jobs. The loan fund operates as part of the Croydon Enterprise programme within the Croydon Economic Development Company and is managed by GLE oneLondon.”

Tim Fisher said:

“Closing ‘Stuff’ was heartbreaking for owner David Lashmar and the traders and I would have very much liked it to carry on. However, I’m delighted to be able to keep on trading in Croydon and the locals really seem to love my chocolate.”

“The move would not have happened if the CEDC had not got involved and worked it through with me. I am very grateful for their support - I particularly valued the sensible and positive help from Keith Miller who got onto my case and moved mountains to get things done.

“I hope I can repay them by making my business very successful.”