An independent 100% organic tea business has secured a six figure finance package from HSBC, helping it import increased quantities of ethically sourced tea from Sri Lanka and facilitate its ambitious global growth plans.
English Tea Shop, which supplies sustainable and ethical artisan teas, blends and packs its tea at its Sri Lankan factory before importing to its main warehouse in Wickford, UK and a number of other smaller sites. The teas are then distributed worldwide to gourmet and speciality markets in over 50 countries.
The fast-growing business, founded in 2010, is a pioneer of sustainable practices. Its teas and ingredients come from small farmers in limited quantities, grown without chemical fertilisers or pesticides. It pays a premium on top of the Fairtrade price of tea to make sure its farmers can continue to farm in the most sustainable way possible.
English Tea Shop is using a £1m invoice finance package and a £450k trade limit from HSBC to increase its importing capabilities, which the team hopes will also increase turnover by an estimated 20 per cent in 2018.
Suranga Herath, Chief Executive at English Tea Shop, said, “We have set ourselves some ambitious goals for the next few years, including expanding our global reach and continuing to grow as a truly sustainable business, both of which HSBC has been instrumental in supporting. Small farmers and suppliers make a huge impact on sustaining the planet’s natural eco system and this finance deal has enabled us to import even more and continue supporting ethical producers.”
Alison Harvey, HSBC’s Area Commercial Director for Business Banking, said, “We’ve witnessed the growth that English Tea Shop has experienced, in conjunction with their support of local producers and look forward to working with them on their future plans.”
English Tea Shop has gone from strength-to-strength since its inception in 2010, demonstrating an average year-on-year growth of more than 20 per cent. The company’s customer base has also evolved, from small independent retailers and hotels to leading multinational organisations.
