- Type of finance
- Business need
Starting a business
“For years I’ve dreamt of opening a bike shop. When demand for bikes surged during lockdown, my business partner Ben and I decided to seize the opportunity and approached the Development Bank for start-up finance. They believed in us and our idea, and gave us the backing to make this happen.”
The Dropbar Workshop is a bike repair and alcohol shop. It opened in Clear Water Way, Cardiff, in November 2020, with the help of a £25,000 micro loan from the Development Bank of Wales.
Owner Neil Cowhey was professionally a chef, but with his skills in servicing and upgrading bikes, he had always wanted to open his own bike shop. When lockdown led to a cycling boom, Neil and his business partner Ben Kingman decided to take advantage of the opportunity and set up shop.
In addition to its range of bike services, accessories and essentials, the Dropbar Workshop also offers a constantly rotating selection of craft beers and wines. It will also be serving food once lockdown restrictions are lifted.
You can find out more on their website.