Tendring business benefits from SME Growth Fund boost

Wednesday, 6 September, 2017

Tendring business Globaltec Innovation Ltd has benefited from a significant cash boost of more than £75,000.

The grant has come from the Tendring SME Growth Fund, which is a £750,000 scheme to support Small and Medium Enterprises (SMEs) grow and create new jobs in the District.

Tendring District Council (TDC) Cabinet Member for Investment and Growth, Councillor Zoe Fairley, said: “The growth fund represents an excellent opportunity for local businesses to expand and to create new jobs, and the Council is proud to be able to support the District’s businesses through this scheme.”

“I sincerely hope that the success of Globaltec Innovation Ltd in accessing the Growth Fund will serve as an inspiration to those looking to start up or grow their business in Tendring and that they come forward with their own bids,” she added.

Globaltec Innovation Ltd manufactures innovative consumer products and has started trading with a football launcher (www.ball-launcher.com) for use in coaching and training from grass roots right up to professional level.

The grant supported the firm’s relocation from its previous premises in Colchester to larger premises in Brightlingsea and this came at a time when demand for their product is expected to increase, particularly among the nation’s football clubs and academies.  The company’s new location will enable it to respond to large orders for their ball launcher and the grant will be used to help with the relocation and refit of their new premises.  The funding will also create 12 new jobs.

Owner Daniel Judge said:  “We are extremely happy to have secured funding via the Council’s SME Growth Fund Scheme.  It is an excellent collaborative scheme promoting growth and prosperity in the District, whilst supporting businesses to fulfil their ambitions.  I would certainly recommend the scheme to other businesses and start-ups considering applying, as the funding can be a huge benefit in respect of scaling up and commercialising production.” 

“We are looking forward to creating new jobs in the Tendring District and look forward to a continuing positive relationship with the Council."

Bids can be made to TDC and the initiative is supported by funding from Essex County Council. The scheme provides grants for new and existing businesses located in, or relocating to Tendring.

Businesses can apply for between £3,000 and £150,000 on the basis that applicants must also invest their own funds - 75% if an existing business, or 50% if a new start-up. For more information, please contact TDC’s Business Team at funding.support@tendringdc.gov.uk

 

Last updated on: 06/09/2017 - 10:22