Weekender: New ice cream company scoops Finance For Enterprise funding

A former business adviser is hoping to become the cream of the crop with a brand new ice cream company after securing the funds to build his new business from alternative lending provider, Finance For Enterprise.

Richard Young launched his venture Black Dog Ices, which is named after his beloved pet Labrador, in a bid to bring the classic flavours of yesteryear out of the cold and back into the hearts of the people of Yorkshire.

Drawing on his 14 years’ experience supporting other aspiring entrepreneurs, he decided to practice what he preached, calling on his business knowledge, contacts and passion for ice cream to pioneer his new business which is based in Doncaster market.

With premises secured in Doncaster Market’s International Food Hall, and having perfected his recipes at home, Young realised there was only barrier in his way – securing the cash needed to purchase the essential ice-cream making equipment his business was dependent upon and he approached Finance For Enterprise for help.

Working with a dedicated investment manager, Young was able to secure the funds he needed with a Start-Up loan – a special type of loan to help pre-start and new businesses secure the funds required to enable them to navigate their all-important first two years of trading.

Today, Black Dog Ices produces over 14 different flavours of ice cream and 15 different flavours of ice lollies. Young has even helped ice cream lovers to enjoy long-lost flavours which have all but disappeared from the high street by producing bespoke recipes which are tailored to his customer’s preference.

Keen not to rest on his laurels he is now hoping to expand his business by collaborating with local restaurants and shops, as well as helping South Yorkshire’s biggest ice cream lovers to enjoy a range of tasty treats.

He said: “After spending so much time in my career working with entrepreneurs who had decided to follow their passions and build businesses around their interests, I felt I was ready to try myself. I’d found the perfect location for my business, refined the manufacturing process and all that stood in my way was sourcing the funds to purchase the essential refrigeration equipment I needed to make the business viable.

“I knew about Finance For Enterprise through my work as a business adviser, and contacted them to see whether my business idea could access the lending it needed.

“Working with Gillian Pickard, I was able to access a Start-up loan and after preparing my business plan and cashflow forecasts, securing the lending I needed was a very straightforward process. Coming from a business advice background I knew what was required of me to get the ball rolling and Finance For Enterprise was regularly on-hand to provide support as and when it was required.

“I produce my ice cream in quite small batches, which means I can often re-create or develop flavours to appeal to my customers, helping them to enjoy flavours from their childhoods or even creating new recipes to suit their tastes.

“Although the business is relatively new, I’m really pleased with how it has been developing and evolving. As a result of the lending I’ve received from Finance For Enterprise, I’m hoping more people will be able to enjoy my range of ice creams.”

Gillian Pickard, investment manager at Finance For Enterprise, said: “Entrepreneurs like Richard can often find it difficult to find funding for their innovative business ideas via traditional high-street lenders, especially when there is no proven trading history.

“However, we understand most businesses are built on knowledge, expertise and business acumen – qualities which Richard clearly had in abundance. He backed up his ideas with a well thought out business plan, and a strong USP and we were able to help him secure the funding his business needed to realise his ambitions.

“After receiving the Start Up Loan funding, Richard purchased the equipment he needed to get making his wide selection of flavoursome ice creams, and we’d like to wish him every success with his new business venture.”

Finance For Enterprise is a delivery partner of Start Up Loans UK, an initiative backed by the British Business Bank and designed to help new entrepreneurs with limited trading history with the ability to secure finance.