Birmingham-based Salesbond has its eyes on expansion into Cheshire after achieving 300 percent growth and securing £70,000 worth of investment from shareholders, including £30,000 fromNPIF – BFS & MSIF Microfinance, a product managed by GC Business Finance and MSIF and part of the Northern Powerhouse Investment Fund (NPIF).
Salesbond is an independent telesales company specialising in lead generation and appointment setting. The Edgbaston-based companyworks with more than 20 businesses across the UK in a range of sectors. Since trading commenced in January 2016, it has increased headcount by seven and grown turnover to £0.25m.
Following the latest injection of NPIF funding, Salesbond is now planning to undertake further recruitment as well as grow from the Midlands base by establishing a new office in Frodsham, Cheshire, at the end of June.
In the last 12 months, DropJaw Ventures has supported Salesbond’s investment in people, marketing, and technology, as well as a robust infrastructure to provide a platform for its rapid growth.
Nicole Markham, managing director, said: “It was a pleasure to work with Mark Gibbons and the team at GC Business Finance, as well as Roy Shelton at DropJaw Ventures. Our partnership means we are able to access funds needed to help implement our growth strategy and build on the foundations we’ve put in place over the last two years.
“Working with Roy, we have developed a business strategy and ensured we have in place an infrastructure, built on agile technology and software, as well as a strong brand, to help accelerate our growth plans and grow from our base in the Midlands.”
Roy Shelton, Managing Partner at DropJaw Ventures said: “Salesbond is a great business with massive potential. Nicole has the energy and drive, and there is a clear vision for expanding the business.
“The vision for growth and development is very much on track, highlighted with the turnover increase in the last 12 months, and by a strong and growing roster of clients for which the business consistently demonstrates impressive return on investment. This investment is testament to the clarity of vision and a robust business plan that is clearly already showing return.”
Mark Gibbons, Senior Loan Manager at GC Business Finance, said: “We really bought into Salesbond’s ambitions to expand into the North of England, and so we were keen to offer our support where a traditional lender could not. It has achieved really impressive growth over the last year, and the new office will not only help it attract new customers and boost revenues, but it will also create new jobs in the Cheshire region.”
Sue Barnard, spokesperson at British Business Bank, said: “NPIF continues to provide vital funding to Northern businesses across the region. We are pleased to continue this support, and are proud to work in partnership with GC Business Finance and our other appointed fund managers to make a real impact on business communities, creating jobs and strengthening regional economies to unlock the North’s potential.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
