News: Blue Badge Co secures investment boost
Blue Badge Co, a company that produces independent lifestyle products including Blue Badge display wallets, walking stick holders and lap trays, has secured some major investment, after leaving Dragon’s Den empty handed in 2015.
The injection of capital from Omani business woman Muzna Al Said, coupled with a new five-figure finance facility from HSBC, will allow managing director Ellen Green to develop her team and new product lines.
Blue Badge Co’s turnover has grown by more than 50 per cent annually for three years, after inking deals with a number of major retailers, to reach almost £500,000 at the end of the last financial year.
“Retailers are only now waking up to the growing demand from disabled and ageing consumers who want home and travel aids with great designs, that are desirable lifestyle products rather than medical necessities,” said Ellen.
Disabled consumers now making up a fifth of the UK population – nearly 12 million people, up from 10 million ten years ago – who, with their households, have a spending power of more than £200bn.
With the over 50s, who control over 75 per cent of household wealth, likely to make up more than half of the population by 2030, Blue Badge Co attributes its success reflects the rise of the ‘purple pound’ – the growing spending power of disabled people.
Read more: Business Surgery: Blue Badge Company