# data[].attributes.body
Dark Sugars is a small business that celebrates the story of cocoa, from its origins to the final product. Founded by Nyanga Fatou Mende, the business began with a vision and two truffles at Spitalfields Market. Nyanga's passion for cocoa led her on a three-year research journey to South America and West Africa, where she explored cocoa on her family's farm. This experience allowed her to bring back the authentic flavours of Ghanaian cocoa to East London​ (Dark Sugars, 2024)​.

In 2013, Dark Sugars opened its doors on Brick Lane, offering handcrafted chocolates that captured the true essence of African cocoa. The business quickly gained popularity and became a beloved destination for chocolate enthusiasts worldwide. Dark Sugars has since expanded its offerings, including a Dark Sugars ice cream shop and a flagship Cacao House in Greenwich, which opened in late 2021 ​ (Dark Sugars, 2024)​.

Dark Sugars operates in the confectionery industry. Specifically, they are a chocolate and cocoa-based business. They specialize in handcrafted chocolates, truffles, hot chocolate, chocolate bars, and other cocoa-infused treats. Dark Sugars is known for its high-quality and authentic flavours, showcasing the rich and vibrant taste of African cocoa. Their products are enjoyed by chocolate enthusiasts and customers who appreciate the artistry and indulgence of fine chocolates ​ (Dark Sugars, 2024)​.

# data[].attributes.body
A small business is a privately-owned company that aims to generate profit by providing services or products to customers (Da Costa,2023) SMEs are categorised as micro-enterprises or small to medium-sized enterprises, with a range of 10 to 50 employees and an anual turnover of £2 million to £10 milion (Roberts,2022).

Dark Sugars is a privately-owned active and private limited company based in Greenwich, London, England. It was incorporated on January 28, 2019, and has a dedicated leadership team led by Fatou Mendy, who has been the active Director since June 1, 2020 (Gov. Uk, 2024). The company currently has 15 employees, and Dodou Ebrima Jagne played a crucial role in the company from January 28, 2019, until June 1, 2020 (Gov. Uk, 2024).

Dark Sugars Ltd's financial statement as of March 31, 2023, shows that the company's fixed assets remained consistent at £65,880, and it had £229,303 in cash at bank and in hand. However, the company also had creditors' amounts falling due within one year, resulting in a net current liability of £130,952. The company's total assets less current liabilities amounted to £98,351, and its net assets, including called up share capital and retained earnings, stood at £164,131 (Gov Uk, 2024). It is important to note that the financial statement is prepared and delivered in accordance with the relevant provisions of the Companies Act 2006 (Gov Uk, 2024).

# data[].attributes.headline
3.0  Gaps and Growth Potential analysis 

# data[].attributes.subject
3.0  Gaps and Growth Potential analysis 

# data[].attributes.body
According to ​(Kiisel, 2015)​, a small business owner or entrepreneur is someone who takes the initiative to establish, manage, and organize a business, while also assuming a considerable amount of risk.

Dark Sugars is a limited company small business that operates in the confectionery industry, specializing in luxury handmade chocolates and truffles. The company is privately owned, with its ownership structure consisting of directors who hold shares in the business. The ownership of Dark Sugars is crucial to the decision-making process and overall success of the company. One of the key owners of Dark Sugars is Fatou Mendy, who serves as a director. As a director and owner, Mendy has a vested interest in the company's growth and profitability. Being actively involved in the day-to-day operations, Mendy plays a crucial role in shaping the strategic direction of the business, overseeing financial management, and ensuring compliance with regulations ​(Gov.Uk, 2024)​.

Dodou Ebrima Jagne, another former director, also had ownership in Dark Sugars. Jagne's involvement in the company from 2019 to 2020 contributed to the business's development during that period.

The ownership structure of Dark Sugars provides several advantages for the business. Firstly, as owners, the directors have a strong sense of commitment and motivation to drive the company's success. They have a personal stake in the business's performance and are more likely to make decisions that align with the long-term goals of the company ​(Expert Panel, Forbes Coaches Council, 2019)​.

Secondly, being a small business, the ownership structure allows for more flexibility and agility in decision-making. The owners can quickly respond to market changes, adapt to customer preferences, and implement innovative strategies without the need for lengthy approval processes or bureaucratic red tape ​(Expert Panel, Forbes Coaches Council, 2019)​.

Additionally, the ownership structure enables Dark Sugars to maintain its independence and preserve its unique brand identity. As a privately owned business, the company has the freedom to make decisions that prioritize its values, quality standards, and customer satisfaction, rather than solely focusing on maximizing shareholder value.

The business owns the following assets : display cases, refrigerators, ovens, and mixers , furniture and fixtures

Overall, the small business ownership of Dark Sugars, led by dedicated directors like Fatou Mendy and Dodou Ebrima Jagne, plays a vital role in driving the company's growth, maintaining its uniqueness, and ensuring its success in the competitive confectionery industry.

# data[].attributes.body
A financial plan is a comprehensive document that outlines an individual's current financial situation and their short- and long-term financial goals. It includes strategies and actions to achieve those goals, such as managing risks, income, and spending, and reducing debt. A financial plan provides guidance and prepares individuals to meet their financial obligations and objectives. It also allows for tracking progress towards financial well-being over time. Financial planning involves a thorough assessment of income, spending, debt, and savings, and can be created independently or with the assistance of a certified financial planner ​(Manning, et al., 2023)​.

Dark Sugars has shown significant improvement in its financial performance for the year ended March 2023. The company's total assets increased to £295.18k, representing a substantial growth of £97.61k or 49.41% compared to the previous year. On the other hand, total liabilities decreased by £30.95k or 30.95% to £-130.95k. This reduction in liabilities indicates a more favourable financial position for Dark Sugars. The net assets of the company increased to £164.23k, reflecting a remarkable growth of £66.66k or 68.32% compared to the previous year. This demonstrates Dark Sugars' ability to generate and retain a higher level of wealth. Additionally, the company's cash in the bank increased to £229.3k, a significant rise of £104.93k or 84.37% compared to the previous year. This indicates a healthy cash flow and liquidity position for Dark Sugars. The number of employees also saw a substantial increase, reaching a total of 15, representing a growth of 10 employees or 200% compared to the previous year. This expansion in the workforce suggests the company's commitment to its growth and expansion plans. Furthermore, Dark Sugars has made progress in managing its debt, as evidenced by a decrease in the debt ratio to 44.36%, a reduction of 6.26% compared to the previous year ​(Endole, 2024)​.

Overall, Dark Sugars has demonstrated strong financial performance and strategic management, positioning itself for continued success in the future.

# data[].attributes.body
Small business marketing involves utilising various resources to promote and raise awareness of the brand. It is essential for increasing customer base and driving sales. Effective marketing strategies can be costly and time-consuming, so it's crucial to understand the options that work best for the business. Regardless of the business size, marketing is crucial for success. Nowadays, relying solely on word-of-mouth or occasional ads is insufficient. Small business marketing requires a multi-platform approach, utilizing different avenues simultaneously to stay visible to customers​ (Aditham, 2023)​.

One of the strategies which Dark sugars have been use is the 4Ps. The 4Ps of marketing, also known as the marketing mix, are a set of fundamental elements that businesses use to develop effective marketing strategies.

1. Product:

Dark Sugars' product is their range of handmade dark chocolates. They offer a variety of flavours, fillings, and sizes to cater to different customer preferences. For example, they have 11 main categories such as,easter eggs, chocolate,corporate gifts,bubble bars,hot chocolate, truffles,chocolate pears,vegan options,signature boxes,crowd favourites, happy time and chocolate wich contains different alcohol. They also offer dark chocolate bars with different cocoa percentages, highlighting the richness and complexity of their products​ (Dark Sugar, 2024)​.

2. Price:

Dark Sugars' pricing strategy will depend on factors such as the quality of their ingredients, the artisanal nature of their chocolates, and their target market. They may position themselves as a premium brand and set higher prices compared to mass-produced chocolates. For example, they are pricing their handmade dark chocolate from £3,95 to the most expensive product such as signature box ‘All of us’ which the cost is £150 ​(Dark Sugars, 2024)​.

3. Place:

Dark Sugars' distribution channels will determine where customers can find their products. They sell their chocolates through their own physical store locations in high-traffic areas Greenwich and Bricklane​ (Dark Sugars, 2024)​. Additionally, they offer their products through an e-commerce website, allowing customers to order their chocolates online and have them delivered.

4. Promotion:

Dark Sugars use various promotional strategies to create awareness and generate interest in their dark chocolates. They run targeted online advertising campaigns on social media platforms, newspaper article, digital marketing, display, sales promotions, such as free tasting showcasing their unique flavours and handmade process​ (Dark Sugars, 2024)​.

It's important to note that the 4Ps are interconnected, and decisions made in one area can impact the others. Dark Sugars would need to carefully consider how their product, price, place, and promotion strategies work together to create a compelling and competitive offering in the market.

# data[].attributes.body
A growth strategy is a plan that helps a company expand, enter new markets, or introduce new products to increase revenue and market presence. One of the most popular growth strategies is Ansoff Matrix which is classified in four categories: market penetration, market development, product development and diversification​ (Peterdy, 2024)​. Dark Sugars Ltd can benefit from the Fine Chocolate Industry Association (FCIA) in several ways that align with their growth strategies. The FCIA is a global association that helps professionals in the fine chocolate industry. They offer educational events, advocacy, partnerships, and an online marketplace. The FCIA aims to promote quality and innovation in the industry and support the art of fine chocolate (FCIA,2024).

1. Market Penetration: By attending FCIA's educational events, Dark Sugars can stay updated on the latest trends and techniques in the fine chocolate industry. This knowledge can help them improve their existing products, such as dark chocolates and confections, and increase market share by selling more to their current customer base.

2. Market Development: FCIA's strategic partnerships and online marketplace can provide Dark Sugars with opportunities to explore new markets and expand their reach geographically. They can connect with potential customers in different cities or countries and use the online platform to reach a wider audience.

3. Product Development: FCIA's educational events and networking opportunities can inspire Dark Sugars to introduce new products or variations to their existing product line. They can learn about new flavours, packaging options, and innovative ideas that can help them enhance their offerings and attract new customers.

4. Diversification: FCIA's industry networking events can enable Dark Sugars to connect with professionals in related industries, such as gourmet hot chocolate or luxury desserts. This can open doors for potential diversification opportunities, allowing Dark Sugars to enter new markets or develop new products that are unrelated to their current offerings.

# data[].attributes.headline
3.5 Sumary of gaps and growth potential analysis

# data[].attributes.subject
3.5 Sumary of gaps and growth potential analysis

# data[].attributes.body
1. Recommendations for Financial Planning:

The global cocoa and chocolate market is poised for significant growth, with a projected value of USD 74720 million by 2032 and a compound annual growth rate (CAGR) of 4.2% from 2024 to 2032 (Statics, B.I.,2024). The information about the global cocoa and chocolate market can significantly contribute to Dark Sugars' financial plan.

1. Revenue Projection: Dark Sugars can use this market data to estimate their potential revenue growth in line with the projected market value. By considering their current market share and growth rate, they can forecast their future revenue and set financial targets accordingly.

2. Investment Planning: The projected growth rate of the cocoa and chocolate market indicates a favourable environment for investment. Dark Sugars can use this information to attract potential investors or secure funding for expansion plans, product diversification, or infrastructure development.

3. Market Share Analysis: Dark Sugars can assess their current market share in the cocoa and chocolate industry and compare it to the projected market size. This analysis can help them identify opportunities to increase their market share by implementing strategic marketing and sales initiatives.

4. Risk Management: By understanding the projected growth rate, Dark Sugars can assess potential risks and challenges associated with market fluctuations. They can develop risk mitigation strategies and contingency plans to ensure financial stability and sustainability.

2. Recommendations for Marketing a Small business

1. Collaborate with Influencers: Partnering with influencers in the food and lifestyle industry can help Dark Sugars reach a wider audience and build credibility. Influencers can promote their products through social media posts, blog reviews, and video content, increasing brand visibility and driving sales.

2. Engage in Community Events: Participating in local community events and food festivals can help Dark Sugars build brand awareness and connect with potential customers. By offering samples, conducting tastings, and sharing their story, they can create a memorable experience that encourages customers to visit their store or make online purchases.

3. Collect and Utilize Customer Data: Dark Sugars should implement a system to collect and analyze customer data. This data can provide valuable insights into customer preferences, buying behavior, and trends, enabling them to make informed marketing decisions and tailor their offerings to meet customer demands.

3. Recommendation For Growth Strategies

FCIA's advocacy efforts and promotion of fine chocolate can create a favourable environment for Dark Sugars to expand their business. The association's collective voice on industry quality and innovation can help Dark Sugars establish their brand as a high-quality producer of dark sugar products, which can attract new customers and increase demand.

Moreover, Dark Sugars Ltd UK can leverage FCIA's resources, educational events, advocacy, partnerships, online marketplace, and industry networking to implement their growth strategies. By staying updated, expanding into new markets, introducing new products, and potentially diversifying their business, Dark Sugars can increase revenue, market presence, and overall success in the fine chocolate industry.

# data[].attributes.body
In conclusion, this portfolio showcases Dark Sugars as a small business in the confectionery industry that has successfully capitalized on its ownership structure and dedicated directors. The commitment, motivation, flexibility, and agility of the owners have played a crucial role in the company's growth and success. Dark Sugars has demonstrated strong financial performance, strategic management, and effective marketing strategies. Moving forward, the company has the opportunity to further expand its revenue and market presence through growth strategies such as market penetration, market development, product development, and diversification. By incorporating market projections and growth rates into their financial plan, Dark Sugars can make informed decisions, attract investment, optimize costs, and strategically position themselves for continued growth and success in the cocoa and chocolate market. Overall, Dark Sugars is well-positioned to continue delighting chocolate enthusiasts and carving a niche for itself in the industry.

# data[].attributes.body
After careful consideration, the investors have collectively agreed to allocate a significant investment range of £10,000 to £15,000 towards the company. Their main objective is to allocate these funds towards two specific areas: promotion and new facilities.

In terms of promotion, the investors recognize the importance of increasing brand visibility and reaching a wider target audience. They intend to invest a portion of the allocated funds into marketing campaigns, advertising initiatives, and other promotional activities.

Additionally, the investors acknowledge the significance of having state-of-the-art facilities to support the company's operations. With this in mind, they plan to allocate a portion of the investment towards upgrading and expanding the existing facilities. This may include renovations, equipment purchases, or even the acquisition of additional space if necessary. The goal is to create a more efficient and productive work environment that can accommodate the company's growth plans.

By strategically investing in both promotion and new facilities, the investors aim to position the company for long-term success. They believe that these investments will not only drive immediate growth but also lay a solid foundation for sustained profitability and expansion in the future.

# data[].attributes.body
Aditham, K., 2023. Small Business Marketing in 2024: The Ultimate Guide. [Online]
Available at: https://www.forbes.com/advisor/business/small-business-marketing/[Accessed 10 03 2024].

Da Costa, E., 2003. Global E-Commerce Strategies for Small Businesses. [Online] Available at: https://mitpress.mit.edu/9780262541435/global-e-commerce-strategies-for-small-businesses/[Accessed 10 03 2024].

Dark Sugar, 2024. Products. [Online]
Available at: https://www.darksugars.co.uk/collections/all
[Accessed 11 03 2024].

Dark Sugars, 2024. Our Story. [Online]
Available at: https://www.darksugars.co.uk/pages/story
[Accessed 3 03 2024].

Dark Sugars, 2024. Pearl Price. [Online]
Available at: https://www.darksugars.co.uk/products/pearls
[Accessed 11 03 2024].

Endole, 2024. Overview Dark Sugars Ltd.. [Online]
Available at: https://suite.endole.co.uk/insight/company/11790488-dark-sugars-ltd?page=overview
[Accessed 10 03 2024].

Expert Panel, Forbes Coaches Council, 2019. 11 Advantages Small Businesses Have Over Large Corporations (And How To Use Them). [Online]
Available at: https://www.forbes.com/sites/forbescoachescouncil/2019/07/22/11-advantages-small-businesses-have-over-large-corporations-and-how-to-use-them/
[Accessed 10 03 2024].

FCIA (2024) About FCIA, About FCIA - Fine Chocolate Industry Association. Available at: https://www.finechocolateindustry.org/about_fcia.php (Accessed: 31 March 2024).

Gov.Uk, 2024. DARK SUGARS LTD. [Online]
Available at: https://find-and-update.company-information.service.gov.uk/company/11790488
[Accessed 10 03 2024].

Gov.Uk, 2024. Filter Officers. [Online]
Available at: https://find-and-update.company-information.service.gov.uk/company/11790488/officers
[Accessed 10 03 2024].

Gov.Uk, 2024. Financial Statement. [Online]
Available at: https://find-and-update.company-information.service.gov.uk/company/11790488/filing-history
[Accessed 10 03 2024].

Kiisel, T., 2015. What Does It Mean To Be A Small Business Owner?. [Online]
Available at: https://www.forbes.com/sites/tykiisel/2015/12/19/what-does-it-mean-to-be-a-small-business-owner/
[Accessed 10 03 2024].

Manning, L., Scott, G. & Courage, A., 2023. What is an financial plan?. [Online]
Available at:https://www.investopedia.com/terms/f/financial_plan.asp
[Accessed 10 03 2024].

Peterdy, K., 2024. Ansoff Matrix. [Online]
Available at: https://corporatefinanceinstitute.com/resources/management/ansoff-matrix/
[Accessed 24 03 2024].

Roberts, L., 2022. What is a small Business. [Online]
Available at: https://bionic.co.uk/business-finance/guides/what-is-a-small-business/
[Accessed 10 03 2024].

Statics, B.I. (2024) Cocoa and chocolate market report: Global industry forecast 2032, LinkedIn. Available at: https://www.linkedin.com/pulse/cocoa-chocolate-market-report-global-industry-vnaoc/ (Accessed: 31 March 2024).