Barnsley businesses get investment boost
Published: 3rd July 2006
Two South Yorkshire companies are flourishing thanks to a Barnsley business centre and South Yorkshire Investment Fund.
Deviate Design, run by Adrian Flute, and Strike Telecom Solutions Ltd, run by Robert Saxton and Simon Woodland, have both been running for three years and are based in the Barnsley Business and Innovation Centre (BBIC) based at Wilthorpe. BBIC currently has 64 companies on the site – employing around 500.
Deviate Design and Strike Telecom Solutions Ltd have also recently taken out loans from South Yorkshire Investment Fund (SYIF) to grow their companies even further.
Deviate Design is a design and communications company, and Adrian and his four staff work with clients both nationally and worldwide – including in Saudi Arabia, Europe and Miami.
Adrian, who has taken out a £30,000 loan with SYIF, said: "I decided to go it alone three years ago and since then I’ve seen the business grow. I’m now recruiting two more staff."
He will use the SYIF loan to help market his company and to buy equipment for his new staff.
Meanwhile, Strike Telecom Solutions Ltd, deal with clients who are cell phone and fixed line voice and data operators, carrying out the design, installation, commissioning and maintenance of telecommunication networks and systems.
Robert and Simon, both directors, have also seen their business flourish and now have 28 employees. The pair have taken out a £50,000 loan to buy specialist test equipment.
Said Robert: "The test equipment we use is really expensive to hire so we have decided to invest in the tools we use."
And if Adrian, Robert or Simon need any business advice their mentor, John Hall, who is the Projects Manager at BBIC, is always on hand to help.
Karl Hodson, Investment Manager at SYIF, said: "I have worked closely with both of these companies – and they are exactly the type of businesses SYIF is looking to help. They are both forward thinking and highly successful in their field. We wish them all the best as they continue to grow. We hope we have a long relationship with these companies – but also with BBIC."
"South Yorkshire Investment Fund can provide loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development," he added.
For more information on how SYIF can help you, please go to www.syif.com or call 01709 386 377
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About South Yorkshire Investment Fund
South Yorkshire Investment Fund provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.
South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.
Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
For further details please contact Suzanne Tinkler, on 0845 649 0000.
South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).