An online homeware store in Cheshire has received significant funding.
- Tilly and Ted, the store, was established during the pandemic by Louise Ward.
- The business has achieved impressive growth and plans for further expansion.
- The funding aims to enhance the store’s operations and market reach.
- The Northern Powerhouse Investment Fund plays a key role in supporting its growth.
An online homeware store based in Cheshire, Tilly and Ted, has successfully secured a £55,000 loan. Conceived during the COVID-19 pandemic by Louise Ward, this venture was designed to bridge the gap between high-end furnishings and mid-range pricing. The store is known for its unique furniture offerings that stand out from typical high street options, combining classic and timeless styles with unique finishings.
Founder Louise Ward, who previously worked as cabin crew, started the business as a passion project in her garage in Lymm, Cheshire, balancing her career aspirations with family commitments. Tilly and Ted quickly gained traction, necessitating the use of an external fulfillment center to keep up with a growing order book, resulting in a remarkable 53 percent increase in year-on-year turnover.
As the business expanded, Ward collaborated with GC Business Finance to secure necessary external financing through the Northern Powerhouse Investment Fund II (NPIF II). This financial backing is poised to enable further scaling of operations and improve product margins. Ward plans to hire part-time staff to bolster their digital marketing efforts, particularly in social media and customer service, as the business looks to expand beyond the UK market.
Louise Ward expressed pride in transforming her love for interior design into a viable business, crediting the support she received from GC Business Finance as pivotal in overcoming financial barriers, stating, “With the right support, I’ve been able to grow Tilly and Ted to be a financially viable, successful business.”
Alison Darkes of GC Business Finance noted Ward’s entrepreneurial spirit and the potential within Tilly and Ted. Darkes highlighted that securing funding through NPIF II was crucial in enhancing product margins and sustaining long-term growth.
The Northern Powerhouse Investment Fund II is a substantial initiative that supports businesses across the North of England, providing loans and equity investments to enable startups and medium-sized businesses to scale effectively. The fund is a key driver in fostering innovation and creating opportunities in the region.
Tilly and Ted’s successful funding acquisition marks a promising step in its ambitious growth journey.
