Craft Focus - Apr/May (Issue 66)

craft focus 11 industry news EXCITING TIMES AT CRAFTER’S COMPANION Global hobby retailer, Crafter’s Companion, has risen to number 31 in this year’s Sunday Times Lloyds SME Export Track 100 list, with a 72 per cent year-on-year growth in export sales. The company is just one of four from the north east to make the list, and it now exports to 32 countries worldwide. It was previously listed at number 52 in 2017. “We’re absolutely delighted,” says founder, Sara Davies. “To move up by such a substantial jump is a real achievement for us and is tribute to the hard work of our teams across the UK, Europe and US. We expect to see continued export growth driven by product innovation, greater brand visibility and increasing consumer demand. Hopefully we can act as a catalyst, along with the other companies listed, for greater export from the north east to the rest of the world.” Sara famously started Crafter’s Companion from her university bedroom in 2005. Since then the company has enjoyed continued growth, with export sales increasing by an average of 94 per cent each year, rising to £10.3 million in 2017. The company has also announced a new partnership with Imagination Crafts. Owner, Sue Baker and her husband Harvey will be working with Sara and the team to expand their offer and develop a brand-new range of products. The merger will bring two of the UK’s biggest craft brands together for the first time. “Sue and Harvey have been in the industry for over 25 years, and are well-respected amongst industry professionals, as well as by consumers,” says Sara. “The unique range of mixed-media products offered by Imagination Crafts can be used for home décor and creative textiles as well as cardmaking and papercraft, so it’s a versatile range that I’m sure our customers will love. I’m so excited that we’ll be working together.” Visit crafterscompaniontrade. co.uk for information. SMALL FIRMS URGED TO PREPARE FOR DATA SHAKE-UP The UK’s small business community is worryingly unprepared for new data protection regulations, according to research from the Federation of Small Businesses. The latest FSB analysis found that one third of small companies have not started preparing for the introduction of General Data Protection Regulation (GDPR), while a further third are only in the early stages. Only eight per cent are fully ready for the changes, which will take effect on 25 th May, 2018. “The GDPR is the biggest shake-up in data protection to date, and many small businesses will be concerned that the changes will be too much to handle,” says Mike Cherry, FSB national chairman. “It’s clear that a large part of the small business community is still unaware of the steps they need to take to comply and may be left playing catch-up.” FSB also found that 60 per cent of small businesses have reported lower profits due to compliance with data protection, and 31 per cent say they have been forced to stop workforce expansion. On average, companies will spend seven hours per month meeting data protection obligations, which equates to £1,075 per year. “Small businesses do understand the need for, and the benefits of, data protection regulations,” continues Mike. “However, many struggle with the cumulative burden of the regulations and the costs that compliance brings both in time and money.” Visit fsb.org.uk for details.