A Royal Deeside cafe owner has spoken candidly about how she came close to shutting it and laying off staff after exhausting all options of funding from mainstream lenders.
Cheryl Anderson owns and runs Shorty’s Coffee Shop & Gelateria in Aboyne.
She opened it last November, an expansion to her existing business interests in Ballater.
But a lack of external funding to support her new venture almost killed it off at the start.
She was out of ideas and nearly out of hope not long after hooking up with new accountants.
We were out of options and, being honest, the future of the cafe looked pretty hopeless.”
Mrs Anderson said: “The cafe was just past the initial start-up phase.
“We had exhausted all options of funding from all mainstream lenders.
“We were out of options and, being honest, the future of the cafe looked pretty hopeless.
“It was then I remembered the financial advice facility at SBP (Accountants and Business Advisers).
“I didn’t have much hope, but I thought it couldn’t hurt and I am now so glad.”
Back from the brink
SBP steered her through the crisis. One of its team, business development direct0r Jamie Smith, helped secure a lender.
This allowed her to meet crucial financial obligations, pay wages and plan for a more secure future, with improved cash flow.
‘We were past the point of no return’
Mrs Anderson added: “Our business was completely self-funded before reaching out to SBP.
“We were promised so much from our bank that all fell through when it came to the crunch.
“We were past the point of no return and had to push on with the start-up in the hope we could find a lender, or get the cafe open and start moving money through the till.
“Unfortunately, neither happened. Due to council and tradesman hold-ups, we couldn’t get the doors open.
“When we finally did, it was the beginning of winter and the weather had turned – meaning much less footfall.
“If it hadn’t been for the help from Jamie in aiding us to secure a lender, we would have had to close the cafe doors as we wouldn’t have been able to pay wages or suppliers.
“We are now able to plan for the future.”
Mrs Anderson said a previous accountant “wreaked havoc” with the books at one of her other businesses.
SBP was able to “tidy this up” for its next submission to HM Revenue and Customs, she added.
And praising the north-east firm‘s “lifeline” support for her new cafe, she said: “Jamie did everything he possibly could to help us.
“SBP’s contribution extended beyond financial assistance.
“It actively addressed regulatory compliance, provided valuable insights into financial planning, and facilitated strategic decision-making.
“This complete approach ensured Shorty’s Coffee Shop & Gelateria received comprehensive support, vital for its stability and sustained growth.”
Wider business was born in Ballater
Mrs Anderson launched her first business, an ice-cream parlour in Ballater, in the spring of 2017.
Her cafe in Aboyne is based in a former post office on Charlestown Road.
It offers a varied menu, including all-day breakfasts, light bites and lunch dishes.
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