Investment boost for marketing and design agency
An internet marketing and graphic design company is planning to more than double its turnover following investment from Finance Yorkshire.
Hull-based Ludo Studio was established in 2007 and employs 15 people. The company operates the Retail Centred and Optimised Law brands.
Retail Centred offers signage and sales material for retailers and shopping centres while Optimised Law provides self-managed internet marketing packages for law firms.
The £50,000 Business Loan from Finance Yorkshire will enable Ludo Studio to invest in business development, marketing material and telemarketing as it looks to gain new customers and accelerate growth.
Turnover currently stands at around £1m but the company is aiming to hit £2.5m within five years and double the size of its team.
To help it meet that target, Ludo Studio is creating four new jobs - two designers, an internet marketing assistant and a web developer.
Managing Director Chris Middleton said: “We used to be a marketing company that did all things for all people until we realised that we had specialist skills and a customer database that was skewed towards shopping centres and legal clients. This led us to create two new brands and we structured our team internally to develop these markets further.
“The investment from Finance Yorkshire will enable us to reach the next stage in our development.”
Ludo Studio also operates MY Office Branding and MY Vehicle Wrap, which offer graphic design and printing services.
Ian Atkinson, Investment Manager at Finance Yorkshire, said: “From the first time we met with Ludo Studio, we were impressed by the young, dynamic management team, which has already overseen steady growth.
“They are totally focussed on taking advantage of the growth opportunities presented by their business brands and we are delighted that they are already creating four new, skilled jobs in Hull city centre.”
Kishor Tailor, Chief Executive of Humber Local Enterprise Partnership, said: “The Humber is going through a renaissance, with digital technologies having a strong focus across our region. It is great to see that small businesses in the digital economy are growing and thriving.
“The importance of online platforms to maximise brands is paramount to business growth and success, with the digital sector constantly changing, as new technologies are created, we need a workforce of creative, forward thinkers, ensuring the Humber stays strong in digital technologies.
“It is great to see four new jobs being created in this sector, and we wish Ludo Studio success with this business growth project.”
Ludo Studio was introduced to Finance Yorkshire by Darren Trice of Kaizen Consulting, who has worked alongside the company’s directors to produce a strategic growth plan.
Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m to help a range of small and medium sized businesses to meet their funding requirements for growth and development.
The Fund has made 800 investments in businesses, increasing overall turnover by £366 million and creating and safeguarding more than 11,000 jobs.
The project is supported financially by the European Union and attracts investment from the European Regional Development Fund (ERDF) as part of Europe’s support for the region’s economic development through the Yorkshire and Humber ERDF Programme, UK Government and the European Investment Bank. Finance Yorkshire is also supported by the Regional Growth Fund.
For more information about Finance Yorkshire, please visit www.finance-yorkshire.com or call 0300 030 6060.
Note: this news article is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire