How Joe & Seph’s accepted a £100,000 Saudi order after protecting payment risk
International business story | Export credit insurance enabled the London popcorn maker to take its largest export order.
Editorial desk
In September 2026, London popcorn maker Joe & Seph’s secured a £100,000 order from a large Saudi supermarket. The turning point was not finding a buyer alone: government-backed export credit insurance helped the company manage non-payment risk. The confirmed figure is contract value, not company revenue or profit.
Joseph Sopher founded the family business in 2010, positioning it as premium popcorn through oven baking and caramel made with West Country butter. It employs more than 60 people in London and has won over 100 Great Taste Awards. A clear product story helped, but a new market still brought payment, channel and fulfilment questions.
The company identified the opportunity while expanding in the Middle East. A large retail chain can provide scale while magnifying inventory, packaging, delivery and payment-term pressure. A small brand needs to break the headline order into ingredient and production cash, freight, charges, due date and returns rather than celebrate value alone.
Joe & Seph’s said a £100,000 commitment in a new market was too much to accept without extra protection. This did not mean the buyer was certain to default; it meant one exposure was concentrated. Editorially, map when materials are purchased, goods ship, payment falls due and how long the business survives a delay.
UK Export Finance insurance covered 80% of the order against non-payment, enabling the company to accept and deliver what it described as its largest export. Insurance does not guarantee profit or reimburse every loss. Scope, exclusions, premium and claim evidence still need to be read in the actual policy.
The company now exports to 32 countries, including the US, Hong Kong, Australia and Europe, and targets further growth in the US, Middle East and Singapore. That footprint shows diversification, but each market has distinct labels, food access, channel costs and tastes. Experience does not erase a new buyer’s credit risk.
A company director said the business could not have accepted its largest order without the support. Before answering a large overseas enquiry, a small exporter can put buyer checks, payment terms, credit limit, insurance or factoring options, and maximum loss on one page. Decide the risk capacity before the order capacity.
Sources
Some images in this article are generated illustrations.