A Worcester-based business specialising in call answering and virtual PA services for SMEs has doubled its turnover after securing funding from the Worcestershire Business Loan Fund, which included a £50,000 loan from recycled Regional Growth Fund (RGF) funds.
Established for over 13 years, a loan was required to complete an overhaul of its IT systems, enhance its cyber security defences and to fit out a new, larger office. The business first approached a bank for funding, but was turned down.
The recycled RGF loan from BCRS Business Loans has enabled the business to start progressing with its growth plans. The new office is over four times the size of its previous one at 3.5 square foot, which will allow the company to employ an additional two people in this financial year, as they look to launch brand-new services to help small business owners who don’t have time to take incoming enquiries, arrange appointments or make outbound sales calls.
Its biggest customer, who has been loyal for many years, has recently acquired new companies and has therefore agreed on a new telephone answering service contract, which has been one factor that has accelerated efforts to scale up the business.