We are expanding and not just around the waistline. Stand by for Business Expansion.
Blackwater Distillery Phase 1 was white spirits. Box ticked.
Now we need business expansion for two reasons:
1 we are out of space
2 we are (finally) ready for Phase 2 – brown spirits and possibly even Phase 3 – tourism.
To do all that we need new stills. They are coming from Frilli in Italy, the same people who made Teeling’s beautiful copper pots. We also need brewing equipment and lots of stainless steel.
After that we need money to buy grain, casks and a new toilet roll holder.
We have also found a beautifully quirky building (think 50’s Americana, not Victorian splendor) to house all our bits, and with a little work it can accommodate visitors. So ‘Schonen Tag’ to all our German friends who keep turning up unannounced!
To (partly) pay for this we are tapping the Irish Governments EIIS Business Expansion scheme. We are looking to raise a modest enough €300,000.
How it works is this:
You invest between €10,000 and €150,000 for four years. Let’s do the sums for €50,000.
Your investment is anchored against shares in the company. No voting rights, that’s how EIIS works.
In that time you get two tax breaks. Year 1 – €15,000 tax relief. Year 4 – €5,000.
So your net cost of investment is actually €30,000.
At the end of four years we HAVE buy back your shares + 10%. So we give you €55,000.
If you’re a higher rate tax payer in Ireland, a pretty darn good return.
If our Business Expansion tickles your fancy drop me a note and I will ping you on a prospectus: email@example.com
That’s the end of the business like posts, we’ll go back to upsetting people next week.