Commercial development in Southend is strong, there is a healthy support network for new and expanding businesses and the area is benefitting from a £2.5m Government Growth Deal.
Fast growth business expansion
Ventrica, an outsourcing contact centre is one such fast growth business which has doubled its capacity to 250 seats with plans to extend its workforce to 300 within the next 18 months. The new wing will create at least 80 new jobs in 2015 and they predict their turnover to reach £4.8m.
“We are delighted to see Ventrica growing as a business. In just a few years it has gone from a new business start-up to a successful company with an international client base. Ventrica is taking an entrepreneurial lead which we hope many others will follow.”
Rob Tinlin, Southend-on-Sea Borough Council’s Chief Executive
Business support from RBS & Europe
RBS Invoice Finance has supported the company with their working capital requirements by providing an Invoice Finance Facility, a credit facility which increases in line with sales. In Ventrica’s case, this has increased from £250,000 to £350,000. The company has also secured a European grant of £114,000, with the help of Essex County Council's Economic Development Services, which brings the total investment Ventrica has received to £750,000.
“RBS Invoice Finance has been an avid supporter over the years and I am grateful they have once again shown their support by increasing our working capital facility. We have ambitious plans to further grow the company over an 18 month period and with RBS Invoice on board this will give us the capacity to do so.”
Dino Forte, founder and managing director of Ventrica Limited
Southend jobs and economy
“It is rewarding to support a fast growing company like Ventrica who utilise Invoice Finance to expand and create local jobs, which is encouraging for the local economy.”
Natalie Beaumont, relationship manager at RBS Invoice Finance
The Southend and Rochford Joint Area Action Plan proposes a business park, 858 homes and up to 2600 new jobs at a 55 acre greenfield site expansion of London Southend Airport whilst there is continuing development and support of new and expanding businesses in new business environments in Southend.
Expanding businesses in the area that are considered fast growth industries are Business Processing Outsourcing (BPO), Shared Services and Contact Centre operations.
Essex County Council’s Enterprise Team
A number of programmes are in place to help businesses to grow and to bring new businesses into the county.
• INVEST Essex promote the commercial opportunities of the county to businesses across the globe who could benefit from the county’s strategic location and proximity to London, Cambridge and one of the largest consumer economies in Europe.
• Essex International promotes commercial, educational and cultural two way partnerships between Essex and one of China’s strongest provincial economies, Jiangsu.
• Essex Innovation Programme works with established and early stage companies through a team of highly experienced private sector business professionals and networks and events engaging with business across the county providing assistance and professional development opportunities to help them to grow and increase profitability.
• Essex Enterprise Centres provide supportive business space for companies taking their first step into premises.
Find out more at www.investessex.co.uk