Worcestershire County Councils Investing in Growth programme is designed to help SMEs in Worcestershire to initiate significant business expansionprojects, through the provision of grant funding and advice.
One business that was supported by the programme recently was Truckstop Group, specialists in commercial vehicle parts.
Founded in 1985, Truckstop Group is a family owned business headquartered in Redditch, with branches in Worcester, Birmingham and Evesham. The company supplies and distributes parts from all major OEM manufacturers, for all makes of commercial vehicles and trailers. With a history of more than 30 years, Truckstop Group have maintained the values of supplying quality parts and delivering them to the customer quickly.
A key challenge that Truckstop were facing was the need for cash injection to carry out the necessary building works on their Worcester premises to increase production and create a more professional image for the business.
Without a workshop and storage facility extension, Truckstop Group were unable to increase production levels in Worcester.
Truckstop Group successfully applied for a grant through the Investing in Growth Programme to extend the workshop and install a mezzanine floor at their production facility in Worcester.
This important upgrade has been a major boost to the business. Through expanding their production house, Truckstop Group have been able to significantly increase production levels. The improved premises presents a highly professional image, creating an important impression for customers and staff alike.
The impact of Truckstop Group’s use of Investing in Growth funding has been extremely positive. The grant allowed them to double the size of their production facilities in around three months, whereas such an expansion would likely have taken around two years if self-funded.
Through increased production and new business achieved following the property improvements in Worcester, Truckstop have been able to expand their core business by buying and opening new premises in Evesham, much sooner than originally planned. Since the project completed eleven extra jobs have been created across the Worcester and Evesham bases and the company have enjoyed a very successful year.
About Investing in Growth
The Investing in Growth programme is funded by the European Regional Development Fund (ERDF), Worcestershire County and District Councils. The programme offers support and advice to businesses at the point of significant expansion through one-to-one consultancy and business capital and revenue grants, which were available up to the value of £50,000.
Investing in Growth grants were put towards building works, website development, relocation, machinery, and research and development.
To find out more about Worcestershire County Councils business growth programmes please contact Wendy Garrad on 01905 844595 or visit www.business-central.co.uk/open-for-business.
Download the case study here