Doncaster hospitality company looks to the future
Pictured (left to right): Chris Oxby, managing director of JW Oxby & Son with Andy Chaffer, business director at SYIF
A leading hospitality supplier is looking forward to expanding its business in 2010, after surviving the recession with support from South Yorkshire Investment Fund.
JW Oxby & Son, based in Doncaster, has received a total of £95,000 in funding from SYIF since 2004, to assist with working capital and to help the business grow.
The company was founded in 1962 by husband and wife, Chris and Linda Oxby, to supply specialist tools and accessories to the hospitality industry.
Chris Oxby, managing director of JW Oxby & Son said: “Our products are supplied to a whole range of venues including pubs, clubs restaurants and hotels.
“We supply everything from toilet rolls and hand towels for washrooms, to ice makers and bingo machines. We pride ourselves on our diversity.”
The latest investment of £20,000 is the company’s third loan from SYIF and has helped JW Oxby & Son to maintain business and continue to grow throughout the economic downturn.
Chris said: “The leisure industry has been hit quite hard by the recession – and that has had a knock on affect for this company - but thanks to the help of SYIF we’ve made it through.
“We can now begin to look forward to 2010 when we will be expanding the business into new product areas and increasing our workforce which in turn, will help boost our market presence.
“We have had a great relationship with SYIF over the years. As well as assisting us financially, they have been on hand to offer business expertise, helping the company to flourish within the hospitality market. Their help really has been invaluable.”
David Ward, investment manager at SYIF, said: “JW Oxby & Son is a family run business that deserves to succeed. Founded in the early 60s, the company is testament to the hard working entrepreneurial attitude of this region and it’s great to see that they are doing so well. We wish them every success for 2010 and beyond.”
SYIF can provide seedcorn, loan and equity linked investments, ranging from £15,000 to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
For more information about South Yorkshire Investment Fund, please visit www.syif.com or ring 01709 386377.
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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).