Axiski sees turnover slope upwards

Axiski sees turnover slope upwards

A start-up snowboard manufacturer based in Worcestershire is set to double its turnover after securing funding from HSBC.

Founded in 2011, Axiski manufactures the world’s first all year round ski-board which can be used on grass, snow and sand dunes.

After just five years in business, the ambitious company now sells its snowboards across the UK and at ski resorts in France and Switzerland.

The funding will see HSBC provide foreign currency accounts to allow the company to bank in euros, enabling it to avoid incurring currency conversion costs.

In addition, Axiski is exploring the improved cash flow benefits that invoice finance would offer, enabling the company to manufacture and sell its products more efficiently.

The business, set up by entrepreneurs Sean Heather and Darren Mather after identifying a gap in the market for the product, has grown year-on-year.

The duo have built the business, which is turning over £500,000 and is on target to reach £1m by the end of this financial year, working one day a week, whilst still working full-time jobs.

Mather said: “The facilities provided by HSBC have given us the platform we needed to grow our business and introduce our products to the global market.

“The business is performing strongly with profits up and new opportunities to bring our products to more consumers in the UK.

“We already sell via Amazon and are in the process of closing a deal with a major high-street retailer.”

Andy Willett, area director for business banking in South West Midlands, added: “Manufacturing here in the Midlands and exporting globally, Axiski is a great example of an ambitious British business.

“The company has worked hard to bring its product to the global market and has grown quickly from a start-up to an established business.”