An award-winning artisan preserves, sauces and chutneys business has secured increased levels of wholesale trade after lifting the lid on a package of business support.
It was back in 2013 when Warwickshire resident Michael Price first started creating and selling products made using a chilli farm from his Lillington home.
Two years later he took the plunge to take voluntary redundancy from his day job as a developer at Aston Martin to place his full-time energies into growing Price's Spices.
The quality of Michael's products – which also includes pickles, chocolates, and seasonings - has been recognised with 27 ‘Great Taste Awards’, one of which was a prestigious Golden Fork Award.
Challenges for business owners have come thick and fast in recent years with the global pandemic being followed by a cost-of-living crisis.
But despite this, and with the support of the Coventry and Warwickshire Chamber of Commerce and its Accelerated Growth programme adviser Marie Stephenson, Price’s Spices has reported fantastic growth in its wholesale business during the final quarter of 2022 and at the beginning of 2023.
"I worked with Marie to help grow the business," said Michael. "We looked at our processes and procedures and we carried out a target marketing exercise to enable me to produce a comprehensive marketing plan that was linked to a sales forecast.
"It was also great just to speak to Marie over a cup of tea who put some questions to me and really coached me in some of the fundamentals of business. She pulled information out of me that's really helped us with a new approach. I now have a clear vision where to invest my time."
Last Spring, Michael turned to the Accelerated Growth programme, which forms part of the Coventry and Warwickshire Business Support Programme that is part funded by the European Regional Development Fund.
While Michael does receive some help running Price's Spices from his wife and son at some of the local food festivals, the business remains a one-man affair from his commercial kitchen at Church Farm in Budbrooke.
"It's certainly been a journey," said Michael. "There's no regrets looking back to when I made the decision to go for it and focus solely on Price's Spices.
"During that time, we had a global pandemic which was a challenging time for everyone, especially for small business owners.
"We came through that period and now find ourselves in tough economic times when people are tightening their belts with fuel bills going through the roof and they're maybe questioning whether to pay more for a bespoke product.
"But I've remained true to the quality of ingredients and our product and I'm working hard to keep growing the business."
Marie Stephenson said: “There is no doubt that businesses have faced challenging times. It’s been great to support Michael in diversifying his customer base and the wholesale side has grown dramatically thanks to his efforts and our meetings.
“I’d encourage businesses to get in touch with the Chamber if they need help to find new markets or whether they want support in some of the business basics that can give them the perfect platform for growth.”
Cllr Jim O’Boyle, Cabinet Member for Jobs, Regeneration and Climate Change at Coventry City Council said: “The Chamber’s Accelerated Growth programme helps businesses throughout Coventry and the region and businesses should get in touch if they need support.
“It’s an important programme that has the involvement of the Council’s Economic Development Service. This is all about job retention and creation, and local businesses need to know that there is help available.”
For more information about business support from the Coventry and Warwickshire Chamber of Commerce, visit www.cw-chamber.co.uk/business-support
For more information on Price’s Spices, visit www.pricesspices.com
Photo caption: Giuliana Famiglietti Pipola (Business Development Manager at Coventry City Council), Russell Grant (Business Advisor at Coventry & Warwickshire Chamber) and Michael Price (Price's Spices owner)