Sports brand accelerates product development
Walsall sports brand Safejawz is accelerating its product development after securing a six-figure loan.
The business, run by Ewan Jones and George Dyer, started out selling clearance sports equipment on local market stalls and now has its own brand of hand-made sports mouthguards.
The funding from HSBC UK through the Coronavirus Business Interruption Loan Scheme (CBILS) will enable the company to ramp up product development and bring advanced antimicrobial mouthguards and cases to market.
The business hopes to launch these new products in time for the 2020/21 rugby season.
The funding has also allowed Safejawz to fast-track a separate project, which will see it launch a new brand of wellness products with an emphasis on improving quality of sleep.
Jones said: “Naturally, given the closure of schools and sports clubs, we’ve seen a huge decline in sports mouthguards sales. As a result, we have had to furlough some of our colleagues and put in place a number of efficiency measures to minimise overheads during the pandemic. But for us, as a small growing business, the most important thing is to get on the offensive and not just think about surviving. Thanks to our Relationship Manager at HSBC UK, Simran Sanghera, we’re now able to push forward product development into new ranges, which would have taken longer without HSBC’s support.”
Mark Lupton, HSBC UK area director West Midlands Business Banking, added: “HSBC UK is committed to supporting its customers during this period of uncertainty. George and Ewan have taken a proactive approach despite the challenging business environment, to really look ahead to the future and think about growing and diversifying their business. We were delighted to offer additional support to the business and wish them the best for the future.”