From Lockdowns to Long Island Ice Teas

Fri, Jan 15, 2021

When the coronavirus pandemic first hit the UK we had no idea that almost 10 months later we would still be very much at the helm. Whilst vaccines are now being rolled out to protect us from contracting the virus, there’s no vaccine to protect the businesses who are fighting to stay afloat.

At Portt & Co, alongside helping our clients with furloughing their staff, we’ve been supporting them to think about the long-term implications, adapting their offering and looking for new revenue streams. 

“The year 2020 has been a real roller coaster both financially and emotionally. Going from 100-0 overnight in March due to lockdown and ending up being closed for more then half the year has taken a massive economical blow to the business. But streamlining and support from suppliers has made us survive (so far).” Fredrik Olsson, owner of Kosmopol

With hospitality being one of the worst hit sectors, Fredrik, owner of award-winning cocktail bar, Kosmopol London, saw the lockdowns and tier restrictions as an opportunity to launch a business idea he’s been considering for years. If you can’t bring the customers to your cocktails, why not bring your cocktails to them! With that in mind, we recommended the Growth Support Kickstart Grant Scheme to help provide him with the funds to launch it.  

“Throughout this period we have, besides keeping our outgoings to a minimum, also looked for new ways of income. When our Accountant Matt Portt recommended The Covid-19 recovery grant I started to look at ways of opening up for new channels. We started looking at a new revenue stream and picked up on an idea I planted a few years back but never materialised – ‘We Love Delivery’.”

After we assisted with completing and submitting the grant paperwork, Fredrik learned that his application had been accepted and set to work implementing his new business idea. The grant money covered the costs to package, brand and market ‘We Love Delivery’. London residents can now enjoy Kosmopol’s exquisite cocktails from their own homes, either by collecting themselves or via delivery from Deliveroo and UberEats. Once lockdown is over and restrictions being to loosen, Fredrik’s cocktails will continue to be delivered so that those who are unable to visit the bar can enjoy socially distanced celebrations.  

Fredrik’s story is a great example of using the pandemic as an opportunity to think outside the box to make the most of your business during troubling times.  

If you’re unsure of how to move your business forward and would like the input of an experienced and reliable remote Finance Director, drop us an email.