A sweet recovery
Early last year, Praline, a chocolate manufacturer from NSW had hopes to expand their business in international markets by developing a new product line.
Then, COVID-19 hit and travel bans forced them to halt all overseas business. This caused an 83% decrease in sales along with international clients postponing their orders indefinitely. Praline then turned to local supermarkets to recover this revenue, but unfortunately, they were no longer accepting submissions for new products.
Praline found itself in a difficult position until their broker, Kim Gilbert, suggested applying for the Vero Business Recovery Grant as a way to reinvigorate their business. Praline applied and were successful!
What did Praline do with their grant?
Praline used the grant money to revitalise their business model through purchasing an advanced production line suited for the COVID-normal economy.
What has receiving the grant meant for Praline?
With this newly purchased equipment, Praline was able to increase their offerings by developing “a larger variety of products” which helped “gain more clients”. The business, which was once smothered by economic uncertainty is now capitalising on the situation and moving steadfastly forward.
The pandemic has drastically changed the economy, how does Praline plan to adapt?
“2021 is looking more positive for Praline as we continue to develop new products and advance our production line. We see the coming year as a good opportunity to grow our sales and markets both domestically, in Australia, and abroad”.
Angus Suttie, Manager at Praline Holdings.
To find out more about Praline click here (https://www.instagram.com/natures_tribe/).
A time for action
“The goal of the grants was simply to help Australian SME’s doing it tough and provide them the kickstart needed to bounce their business back. To witness first-hand how Vero’s grant has helped Praline to develop new products and markets is truly a remarkable and proud feeling.
As we reflect on the past year and what could have been, and to now see the positive impact that our grant has had on Praline, it’s rewarding to see how our initiative supports industries and communities across Australia.
We often refer to our intermediaries as ‘partners’. Partners in the sense that we are in this together, helping local businesses thrive. Our initiative, supported by Kim Gilbert and the Zenith team, literally shows the power of this partnership as Praline recovers and becomes a stronger business in 2021.”
Anthony Pagano, Vero Head of Commercial Intermediaries.
Support through this tough time
The Vero Business Recovery Grant launched in 2020 and offered 25 grants with a total value of $250,000 to SME customers, which would go towards services across business advertising, promotional printing, business equipment and business consultancy.
The grant has helped brokers engage with their customers in a whole new way and has helped the SME’s themselves tactfully pivot their operations in these trying times.
There’s always more to learn
Beyond the Vero Business Recovery Grant, there’s still plenty of ways brokers can help their SME customers.
We’re inviting all brokers and SME’s to the Vero Business Recovery Webinar Series, which features lectures from an independent business consultant covering three insightful topics:
- Pivoting your business in times of crisis.
- Sales skills that work in any environment.
- Mindset, mental health, wellbeing and coronavirus.
Register to watch the Vero Business Recovery Webinars on-demand
