IT company shows six-appeal after Finance Yorkshire investment
A Yorkshire-based IT specialist has doubled its work force and been able to take on more lucrative contracts, thanks to funding from Finance Yorkshire.
Integral IT Services Limited has grown steadily at a rate of 20 per cent per year since its formation in 2006 by Managing Director Jonathan Edwards.
The company has now received a £25,000 Business Loan from Finance Yorkshire to continue its expansion, and currently employ six people at their offices in Oakwood Business Park, Harrogate.
Jonathan said: “The Finance Yorkshire investment has enabled us to increase the numbers of our workforce. This has in turn ensured that we have the capabilities to take on larger contracts that before the funding, we were not fully equipped to do.
“The funding will also go towards internet advertising which will also help us to grow the company considerably as it allows us to promote ourselves locally.
“Not only this, but we have recently expanded our contract with an overseas client in Holland, including a major installation project, and this shows the capabilities of our company.
“I’m delighted with the backing I have been given by Finance Yorkshire; the whole process of making an application for funding was seamless and they have been incredibly supportive throughout.”
Part of the investment from Finance Yorkshire will also go towards the development of sister company, Yorkshire Cloud, which Jonathan formed alongside Integral IT. The new business provides cloud computing support and advice to companies.
Integral IT was introduced to Finance Yorkshire by Peter Beresford Managing Director of funding specialists RedSky, which assisted Integral IT with its business plan.
Ian Atkinson, Finance Yorkshire’s Investment Manager, said: “Jonathan is an impressive entrepreneur who has built up his business steadily over a number of years.
“Integral IT is now well placed to take advantage of the larger contracts coming their way, and we can see that the funding will allow them to continue to expand their services and their staff levels.
“We continue to be impressed with their vision and we hope to continue to support them for many years to come.”
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 project is supported financially by the European Union. It has attracted £30million 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, £15million from Yorkshire Forward’s Single Programme, and £45million match funding from the European Investment Bank.
Note: this news article is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire