Flintshire-based business The Pudding Compartment has successfully secured £75,000 in funding from BCRS Business Loans, marking a significant milestone in its growth journey.
The funding, which has been made available via the British Business Bank’s £130m Investment Fund for Wales, has enabled the specialist commercial bakery to drive efficiencies and increase capacity. These have led to the company increasing its production and warehouse space, whilst also making a significant move into the co-manufacturing space to produce products for retailers.
The Pudding Compartment, which supplies high-quality sweet produce across the UK, has quickly benefitted from the funding to fulfil new contracts and meet growing demand for its high-end and budget-friendly bakery products. The funding has allowed the investment in new machinery, including ovens, mixers and depositors.
Founded in 2007, by Steve West, the funding has allowed The Pudding Compartment to grow into a medium-sized business supplying clients across the UK.
Steve West, co-founder of The Pudding Compartment, said:
“This funding has been a game-changer for our business. It has allowed us to expand production, increase warehouse capacity, and move into co-manufacturing for retailers. We now have the resources to continue growing aggressively while maintaining the quality and creativity our customers expect.”
Steve worked with James Pittendreigh, Business Development Manager at BCRS Business Loans, to secure the funding.
James added:
“We are delighted to support The Pudding Compartment at this exciting stage in their growth. The business has shown strong vision and operational strength, and this funding will enable them to scale efficiently, improve processes, and open up new market opportunities. We wish them every luck as they go into the next chapter.”
Bethan Bannister, Senior Investment Manager, Nations and Regions Investment Funds at the British Business Bank, said:
“Through the British Business Bank’s Investment Fund for Wales, we’re able to support growing businesses like The Pudding Compartment as they take the next step in their journey. This funding is helping the business enhance its production capabilities and explore new opportunities in co-manufacturing, demonstrating the positive impact of accessible finance for businesses and entrepreneurs across Wales. We look forward to seeing the company continue to build on this momentum.”
The British Business Bank backed Investment Fund for Wales operates across the whole of Wales and includes a range of finance options with loans from £25,000 to £2 million and equity investments up to £5 million to help small and medium-sized businesses start up, scale up or stay ahead. BCRS Business Loans is managing the smaller loans part of the fund (£25,000 to £100,000). FW Capital are responsible for larger loans (£100,000 to £2 million) and Foresight manage equity deals (up to £5 million).
Having worked with SMEs unable to access finance from traditional sources in the West Midlands since 2002, BCRS Business Loans has expanded into Wales to help smaller businesses there prosper and thrive under the fund, which was officially launched in Cardiff in November 2023.
Since BCRS was founded as a community development financial institution in 2002, it has provided loans worth more than £100 million to businesses across the West Midlands and Wales. A social impact report for the last financial year showed BCRS lent £10.2m to 112 businesses, safeguarding 895 jobs and creating 260 roles, adding £53m in value to the economy of the West Midlands, surrounding regions and Wales.
