H.H. & S. Budgett was a leading wholesale grocer covering South-West England, South Wales and the London area. It began about 1820 when Samuel Budgett (1794 – 1851) became in turn: apprentice, journeyman and partner to his half-brother Henry Hill Budgett (c 1779 – 1849Lindegaard p25) in the latter's small shop in Kingswood, Bristol. Samuel had a passion for trading. He introduced the practice of buying in bulk and delivering to other small shops like his own. This grew rapidly so that, at the time of his death in 1851, Samuel was giving away £2,000 per annum out of his share of the profits and the company had customers from Birmingham to Penzance. His descendants and non-family partners continued to manage the business well and it flourished for over a century.
Budgetts were taken over in 1961 by Scribbans-Kemp.The Times, Oct 10, 1961, p 20, Col A, Scribbans-Kemp’s AGM They still continued, still with family members on the boardFrank Ware, Harry Budgett but gradually declined as a business under the relentless pressure of the supermarkets. Although they changed to some extent: opening Cash & Carry Warehouses for retailers and buying retail shops themselves, they had failed to seize a strong position in the supermarket trade at an early stage and consequently were perhaps bound to fail in the long run. By 1977 Budgetts, together with Oakeshotts, had been sold for “almost £5m”. Initially, the purchaser was Warriner and Mason, a subsidiary of Gallagher. Later, Warriner and Mason were to sell the cash & carry business to Bookers and the wholesale delivered business to Danish Bacon Company.
Beginning Samuel Budgett and Henry Hill Budgett were both sons of James Budgett (1749–1823). Henry was the elder son of James's first marriageWrington 1776 – to Ann Hill (1755–1787). After she died, James marriedWhatley 1788 Elizabeth (Betsy) Budgett (1767–1831) and Samuel was their first son.Family information The family moved several times. In 1801 they took the shop in Kingswood. In 1803 parents and children moved again to Coleford, Somerset leaving Henry Hill Budgett in charge of the shop.SM p 36
The young Samuel had two passions: to be a missionary and to be a trader. His family were poor. They could not afford a missionary's education and they were in need of an extra breadwinner so a trader it had to be.SM pp 102-4 In April 1809 he signed indentures to be an apprentice to Henry but already he was a trader. He had made many trades with whatever he could find and before he left his mother and father (now in Coleford) to travel to Kingswood, he gave her his total profits – the considerable sum (in those days) of 30 pounds.SM p 52 In about 1816 the apprentice-ship expired and Samuel signed a three-year contract to work for Henry, at annual salaries of 40, 50 and 60 pounds. During this time he started to put his trading skills to use and gradually took over the buying and pricing duties.SM p 141/2 At the end of that contract, about 1819, Henry had got into difficulties with a banking venture. Samuel however, had saved 100 pounds from his wages and he handed them over. In return, he was made a partner.SM p137/8 Samuel took a small cottage near the shop and married Ann Smith from Midsomer Norton.SM p 144
Partnership Samuel now was eager to put his trading skills to further use. Customers used to travel some distance to the shop and he started calling on them to take orders. Gradually he extended this to limited wholesale trading. His more experienced brother was nervous about these innovations and although that held Samuel back, it may have enabled them to keep the business in balance between safety and growth.SM p144-6
After they had mastered this limited trading they extended it. Hitherto they had sold in small villages. Now they would try towns. Samuel had bought butter when the market was low so he tried to sell it in Frome. The big shops turned up their noses at a salesman from humble Kingswood so he hinted that the smaller shops (whom they supplied) might be interested. That was enough in some cases to make the sale. It became his normal practice to begin a fresh town with the large shops and sell what was left to the smaller ones. Also when making a later visit to a town, he would visit again those who had refused him before and present his day's offers calmly. He always took care to give his first and best attention to whoever had first accepted him in any town. He trained his travellers in the same principles. In time the business reached as far as Birmingham and Penzance. A warehouse was built in Kingswood and the place expanded with new houses for Budgett employees.SM pp 151-6 Samuel bought the grounds of an old quarry. Here he built a substantial house where he lived to the end of his life.SM p 173
Other Bristol merchants were jealous. They made a ‘run’ on the firm by submitting accounts early. Samuel resolved to pay them as presented. He obtained emergency funds from his friends. When the cheque for the last account was given, he mounted his horse and raced the payee to the bank, seeing him enter by another door. So he was able to pay in more cash just in time. After the crisis was over, he visited the merchants who had made the run. He found that they had all been ‘informed’ that Budgetts were in trouble by a former Budgett employee whom Budgetts had sacked. The brothers made this man apologise in public.SM p 151-157
Samuel had a fixed policy from the beginning of not granting credit. If the customer was present, he had to pay in full, if he was distant, the traveller would call every four weeks precisely and must then be paid in full. Some shops refused these terms. Budgetts would not deal with those shops. Some failed to meet them. Budgetts would not trade with them until the account was cleared. Samuel saw families ruined as a result of overstretching their credit and felt that for one party to trifle with the rules was dangerous to them both. He also felt that if Budgetts set a good example, others would follow, to the benefit of all. On the other hand, if a customer was in difficulty and made a clean breast of it, he would do whatever he could to help. At that time, business on continental Europe was largely conducted on terms no longer than eight weeks and consequently much more sound than in Britain or the U.S.A.SM p161/6 With our current experience of the Credit Crunch and its consequences, these points seem as relevant today as they were at the time.
Big Changes in the 1840s
In about 1842, Henry retired, leaving Samuel in sole charge. The First Opium War had broken out in 1839 throwing the tea trade into disarray. Samuel went to London and made a killing. When the war ended in 1842, the price of tea collapsed and he lost as much as he had made previously. This taught him to avoid speculation.SM p183
Fire Also in 1842 there was a major fire.Peter Wardley, Dictionary of National Biography, 2004, Samuel Budgett Fire engines attended from insurers: Sun, Bristol Union, Norwich, West of England.Lindegaard p21 According to the local paper, it was discovered at 7.15 am in the “titler room” (for refined sugar). Local people went to help and all the insurers sent fire engines but the warehouse and counting houses were destroyed. The nearby houses and the horses in their stables were saved and no one was hurt. The company's books were saved. The fire continued until 4 am the next day.
The company was well insured. Samuel immediately rode to the smaller warehouse at Nelson Street in central Bristol and engaged the next-door warehouse. All customers awaiting deliveries were informed that those deliveries would be sent out the next day. By a massive collective effort this was achieved.
This apparent setback made the company stronger. The new warehouse was in a more strategic position, especially as the railway system reached Bristol, and the internal layout was thought out again from the beginning.SM pp 184-7
At this time Budgetts introduced an annual Summer Fete. All employees and partners came to Samuel's residence, Park House, at 3pm. All mixed equally and a meal was served. Afterwards their wives and sweethearts arrived to stroll, play sports or listen to music. Then they all sat down to tea. Alcohol was banned so some people moved on to the pub afterwards.Lindegaard p 22
Railways Although no direct evidence is available, railway development must have been critical to the development of Budgetts as a regional business. Key railways would be: Great Western Railway reached Bristol 1841. Bristol and Exeter Railway opened 1844. Bristol and Gloucester Railway opened 1844. Birmingham and Gloucester Railway opened 1840 and linked to Bristol from 1844. Cheltenham and Great Western Union Railway opened Swindon (on the Great Western) to Cirencester 1841, opened throughout to Cheltenham 1847 South Wales Railway joined Gloucester, Chepstow, Newport, Cardiff, Bridgend, Swansea, Carmarthen and Milford Haven, fully opened 1854.
These railways would have reduced transport costs and times from suppliers and to customers. Allowable distances would have been increased. A large new market was suddenly made available to Budgetts. Regional markets in many staple grocery products would have been replaced by national markets.
Samuel's Last Years Meanwhile, back in Kingswod Samuel improved his residence. The property was an old quarry. He had this filled in and made into gardens and farmland, forty to fifty acres. As well as providing his family with more space, this provided employment for local people. Later an old man said, “Yes; I remember when there were five men and three horses, and I have lived to see three hundred men and one hundred horses.”SM p 187
Samuel died in 1851, leaving a strong and vigorous business in the hands of an excellent workforce and a family willing and able to continue along the same lines as before. His three surviving sons James (1823-1906), William (1827-1900) and Samuel(1831-1904),Family information and Lindegaard Family Tree Appendix were old enough to seize their opportunities and keep the business growing. They continued the daily morning prayers and annual staff mixers initiated by their father.
In 1872, Budgetts extended their premises to include the whole block bounded by Rupert St, Nelson St. and Bridewell.Lindegaard p29
Samuel's sons separate In July 1875, the firm was reorganised. James Budgett and his son Richard continued the London business under the name “James Budgett and Son” . William and Samuel (son of the founder) continued the tea trade in London and the whole business in Bristol under the original name “H.H. and S. Budgett” The Times, 1 Jul 1875, p 8, Col A and 4 Sep p 6 Col A