By Rob Twells
Well well well, October 31st marked the end of the strangest (financial) year Frogspark has ever faced. We won’t bang on about how the world entered a global pandemic, and how that has impacted the economy and other businesses – but it’s certainly been a ride!
Our year, ending 31st October 2020 we’ve achieved 17.5% revenue growth from the previous year, and a 29% improvement of profits. This makes it seven years consecutive growth for us here at Frogspark.
It hasn’t all been rosy this year, as a young team we’ve never faced a threat that was out of our hands before. Whilst results are positive, it needs to be said that this year was the toughest we’ve had yet – having to utilise the furlough scheme, how it has impacted financials, the uncertainty around jobs and new businesses generation. The entire team has worked tirelessly throughout this period to adjust quickly, adapt and move forward. We’re pleased that nobody has lost their job due to the pandemic, and in fact we’ve added to the team.
Much like other businesses, we were around 40% below our average revenue for April knowing that if things didn’t improve we would have had to make some quite drastic changes. Luckily, businesses recognised the need for a fantastic online presence and work began to come in for us. By July we were seeing some momentum, and we were 5% up on our monthly average. This steadily grew up until October, where we hit our best month we’ve ever achieved financially.
A note from Managing Director, Rob Twells:
“I can’t believe the year we’ve had, it’s been a rollercoaster of emotions. I, like most other business owners, didn’t know if we would survive. We had to plan for worst case scenarios which I can honestly say was the toughest thing I’ve had to do as a business owner.
The balance started to tip in May. New work was coming in fast and existing clients who had understandably put their work with us on hold had returned. This gave us a new lease of life. We’ve had a total of 73 new customers this year, something I didn’t think I would be saying back in March.
I can’t thank the team enough, and as a group I think we all feel fortunate that we’re in a good place. Our existing customers showed faith and stuck by us, as well as an influx of new customers.
Despite the downs we’ve faced this year, I can’t help but feel proud of the ups. As a group we’ve shown resilience and it’s backed up the way we’ve run the businesses over the years, which provided a huge safety cushion in those earlier, bleaker months.
My heart goes out to any businesses who have not been as lucky as we have. It feels unfair and unjust for years of hard work to be undone by something out of our hands.
It’s not over yet, we know that there is still a big storm to weather for all of us.”
Time for us to knuckle down and hopefully as quickly as possible, put this year behind us and gather momentum for the next. 2020 won’t be forgotten, and it certainly won’t be missed.
Part of The Digital Maze Group