Research shows that the number of UK breweries is up almost two-thirds in the past five years - back to levels last seen in the 1930s and the rise of craft breweries specifically is impressive.
In 2012, there were 1,218 breweries in the UK, but at the end of 2016, that had increased to 1,994, and has since broken through the 2,000 barrier, says UHY Hacker Young.
The accountancy group believe that the success of many pioneering craft breweries has attracted increasing numbers of entrepreneurs, to raise money to open their own microbreweries.
But, what would it cost to set up your own microbrewery and how could asset finance fom LDF help your business?
From IT to G&T
One such business assisted by LDF is Shropshire based, Henstone Distillery. Co-founders Chris and Alexandra Toller spent the last ten years in a very different industry, however, running a successful IT and Telecoms consultancy before establishing Henstone, with a vision is to produce a range of exceptional quality whisky, gin, bourbon and apple brandy.
As a start-up, the need for significant capital investment was an immediate requirement. Exploring options through their bank they found timescales unreasonable and the process a bit of a nightmare. As Chris explained,"We'd assumed pursuing a bank loan would be simple, instead we found the timescales unreasonable and the process a bit of a nightmare. With LDF, it was simple."
LDF helped bring money into their business, not bureaucracy. A dedicated LDF Account Manager supported them through the process of getting a business loan and funds were in their bank account within just a few days.
With LDF's help, the Henstone Distillery is positioned for long-term development. Our fuss-free business loan allowed them to quickly source in the largest still they could afford, allowing them to futureproof their business.