Sara Davies, a Dragons’ Den entrepreneur, is experiencing a difficult moment as her multimillion-pound arts and crafts business suffers enormous losses.
Davies, whose Crafter’s Companion online store ships to over 30 countries, explained the issues her company has been experiencing.
Last October, the company recorded a £1 million deficit, with more losses predicted this month due to the cost of living problem and Brexit effects.
The 39-year-old business magnate is now leading a massive overhaul, investing in professionals such as a new CEO specialising in digital retail.
Speaking to the Mirror, Davies candidly admitted: ‘I’m just going to be really honest, it has been a rough couple of years.
‘And I kind of don’t want to shy away from that because I always feel, especially with my role on Dragons’ Den, I’ve got that responsibility of being a bit of a role model. I’ve had to work harder than I ever have in my life.’
Despite an increase in demand during the epidemic, Davies’ firm has faced a number of obstacles, including growing raw material costs, energy issues, geopolitical pressures such as the situation in Ukraine, and the continued effects of Brexit.
During this turmoil, Sara is directing the reorganisation of her Darlington-based business in County Durham, with Growth Partner slated to become the dominant stakeholder.
Sara, however, retains complete power as the company’s owner, creator, and director.
While dealing with the company’s issues, Sara is also managing her duties to Dragons’ Den, her new BBC programme Making It, and her family life with husband Simon and kids Oliver, 10, and Charlie, seven.
Despite the turbulent times, Sara expressed confidence in her new CEO David Stern and investor Growth Partner, stating: ‘It’s a really exciting time for the company.’
Sara has been a part of Dragons’ Den since the seventeenth season in 2019, replacing Jenny Campbell. She also competed in the 19th season of Strictly Come Dancing in 2021.
Dragons’ Den is available to stream on BBC iPlayer.