Printing company, The Droitwich Sign & Print Co, found themselves amongst those affected by the ongoing pandemic. Along with many businesses, the printing specialists saw fluctuating changes in demand when the lockdown began as well as throughout. The business experienced a slow down in orders when the country first went into lockdown, with many customers nervous to make new orders. Though there was shortened demand, Droitwich Sign & Print Co continued to work hard throughout the lockdown.
In order to manage cashflow, the business applied for a Bounce Back Loan with Skipton Business Finance, who they already had a strong relationship with. The Bounce Back Loan was used to support the business through a time where orders became less frequent but where there were opportunities to put the business in a good position post-lockdown. The loan also allowed the business to invest in a Customer Relationship Management (CRM) module of their management information system to help improve the communication between the business and its clients and prospects.
Mark Hanson, Managing Director at The Droitwich Sign & Print Co, told us how the loan helped his business.
“We already had a good working relationship with Skipton so we applied for a bounce back loan with them to support the business through a challenging time,”
“We received the funds quickly, meaning we could focus on continuing to support our customers through the pandemic while focusing on the future of the business” He concludes.
By having the additional cashflow support though the Bounce Back Loan, the business was able to focus on their marketing efforts to put them in a good position for the next 12 months.
As part of their marketing efforts, Droitwich Sign & Print Co launched their brand-new product ‘Eezi Wipe’. The new printed menu, designed as a result of the pandemic, can be wiped clean with disinfectant after each use, allowing restaurants to maintain health and safety standards in-line with Coronavirus safety advice. The menus are waterproof, tear resistant and greaseproof meaning hospitality businesses can benefit from a quick and easy solution for keeping their customers safe.
Mr Hanson commented on the new products.
“We already work with a number of local hotels and restaurants printing menus amongst other things, with many of them telling me about the additional safety measures that they are using in order to decrease cross contamination,”
“This got me thinking about how I could help them further and so I introduced the Eezi Wipe Menu, a hardwearing and waterproof material that doesn’t need laminating, is tear and dog ear resistant so germs do not get trapped and it can be kept clean by using disinfectant” He adds.
Droitwich Sign & Print Co have had an Invoice Finance facility with Skipton Business Finance since 2014 and have worked closely with our team throughout this period. Lisa Ellson, Relationship Manager at Skipton Business Finance has been on hand to support the business with their Invoice Finance facility. She tells us about the partnership.
“We have maintained a strong relationship with the business over the years and were delighted to offer additional support via a bounce back loan,”
“It is great to see the business continue to work throughout the pandemic and focus towards an optimistic future” She adds.
We are proud to be supporting businesses that have been affected by the ongoing pandemic. With our cashflow solutions, businesses can gain access to working capital that is tied up in unpaid invoices, allowing them to keep working through a challenging time.
Find out more about cashflow solutions for your business:
*Image above provided by Droitwich Sign & Print Co.