Lightbody Ventures is a Glasgow-based food company formed by entrepreneurs linked to one of Scotland's best-known cake makers.

The Scottish firm collaborates with big brands such as Disney while its low-calorie snack, Bliss, is available to buy in Tesco. 

Here, managing director Neil Stewart reveals the firm's ambitious turnover target and the most valuable lessons he has learned in business.

What is your business called?

Lightbody Ventures Ltd.

Where is it based?

West George Street, Glasgow

What does it produce/do?

We craft innovative and tempting products, ranging from health and wellness biscuits to indulgent snacks. From collaborating with global brands like Disney and Hershey to curating our own snack bar brand, Bliss, we keep the focus on creativity and flavour.

To whom does it sell?

Bliss caters to UK consumers seeking low-calorie, tasty snacks that are also gluten-free, while our new Crispy Mallow bars broaden Bliss’ appeal to include the whole family. In addition, thanks to our global licensing partnerships, our products are sold worldwide, including USA, Europe and the Middle East.

What is its turnover?

£9 million.

How many employees?

12 employees.

What were you doing before?

Back in 1984 I joined the Lightbody bakery on a youth training scheme. A fourth-generation baker, Martin Lightbody joined the family business shortly after me and working closely together, we transformed the business from a small regional baker to become the UK’s largest independent celebration cake manufacturer.

Why did you take the plunge?

The Lightbody Group sold to Finsbury Food in 2009, and after a couple of years I decided working for a large PLC was not for me. I missed working with a small, close-knit and agile team.

A conversation with Martin led to him agreeing to back me. Alongside our finance director Crawford Currie, the three of us founded Lightbody Ventures Ltd. I got the safety net of a guaranteed salary for 12 months and the opportunity to get out there and make it happen. I brought in Disney within the year, launching a new range of toddler snacks. We were off.

What do you least enjoy?

The factors beyond my control are the most challenging to deal with. Inflation, fuel costs, the pandemic, Brexit and international conflicts, all significantly impact your business, but are almost impossible to predict when writing your three-year business strategy.

The doubling in the price of cocoa over the last six months for instance has posed considerable challenges, especially when there's limited room to pass costs to retailers. The only way to navigate this is to think creatively and be willing to explore new ways to grow margins.

What are your ambitions for the firm?

Continued growth. We’re aiming to double turnover within the next five years. We have new exciting international licence partnerships with Squishmallow toys and Baileys. For Bliss, our big ambition is to build on the success of securing its first national supermarket listing with Tesco for the Crispy Mallow bar. We want to see the range on-shelf in further UK supermarkets chains in 2024. We’re also exploring North America distribution.

What single thing would most help?

As a small team, our business success has been driven by the passion and talent of our members. Looking forward, nurturing that culture of continuous innovation and adaptability is paramount. Focusing on staff development and recruitment to fortify these qualities is vital for our competitive edge and future growth.

What is the most valuable lesson you have learned?

Be willing to make mistakes. But don’t make them twice. You need to be brave in business. We had the chance to get a caramel shortcake into in 2,500 US Walmart stores. A brilliant opportunity, but we didn’t land it right. Too little market research and promotional marketing.

It failed miserably, but we learned from it. We realised approaching an established brand to pitch a new cake product would be a win-win for both parties, and Hersey’s was the biggest chocolate brand in America. We have now been working with them for ten years.

Where do you find yourself most at ease?

With family and friends.

If you weren’t in your current role, what job would you most fancy?

I would be keen to work with businesses or start-ups aiming to scale up their operations. Stepping into the licensing realm 15 years ago, I wish I had someone to guide me through the complexities of partnering with global brands. While approaching and working with giants like Disney or Hershey was initially intimidating, it has turned out to be surprisingly straightforward. I'd welcome the chance to pay it forward and help others navigate this territory and learn from my experiences.

What phrase or quotation has inspired you the most?

I admire Sir Tom Hunter, not only for his remarkable business achievements but also for his philanthropy and dedication to supporting Scottish businesses. One quote of his that resonates with me is 'If you’re going to fail, fail fast, fail and fail cheap.' It's invaluable advice.

Embracing risk is essential for growth, but it's equally important to learn from mistakes, swiftly pivot and minimise losses. In business resilience and adaptability are essential.

What is the best book you have ever read? Why is it the best?

While I never been much of a reader, I love podcasts. I’m a big fan of Simon Sinek, who is pretty inspirational, particularly in helping me develop skills and think differently about my approach to leadership and managing my team.

What has been your most challenging moment in life or business?

We launched Bliss at the end of 2019, seeing it as at as a guilt-free and budget-friendly treat that would be perfect for an office worker’s coffee break. When the pandemic hit, it was incredibly early days for the brand and a very intense board meeting when I had to convince the board to trust me to navigate us through it. As it unfolded, with the shift to home working, people naturally sought out those little indulgences to keep them going through lockdown and we had two of our strongest trading years for the brand to date.

What do you now know that you wish you had known when starting out in your career?

Be brave. Have belief in yourself and never shy away from taking a risk. Have the confidence to go out on your own and make it happen.