January 31 2015 Latest news:
Thursday, February 27, 2014
A young entrepreneur, who started a nutrition supplement business from his bedroom when he was just 21, has received funding to create his first production line.
John Horwell founded Norwich-based Hench Nutrition, which offers specialist nutritional supplements in 2010. Initially the business operated online with manufacturing outsourced and built up his business, continually improving and testing his recipes. With demand increasing, he left college to focus on the business. With a growing customer base behind him, he has decided to kick-start manufacturing the products himself.
To make the switch he secured a £23,000 loan from NatWest which helped him buy pharmaceutical grade manufacturing equipment directly from overseas.
He said: “Since getting our bank loan, we have managed to increase our turnover substantially, Last year we achieved £550,000 but this year we are well on our way to hitting our target of £1m turnover thanks to both the new equipment and further investment in new and innovative product lines.
“We’re cutting out a third party and can now increase our profit margins while maintaining our low prices. All profit will be reinvested into the business and fuel growth going forward.”
Simon Meekings, NatWest relationship manager, said: “It has been a real pleasure to have been able to support John in his venture. I am confident that he has got what it takes to make Hench Nutrition a real success and I look forward to watching the business grow.”
Around 2,000 Tesco workers discovered their jobs were at risk after the supermarket giant disclosed the locations of 43 store closures including two in Essex - a Homeplus store at Chelmsford and a smaller store in Heybridge.