Two years in…
This time last year we couldn’t believe how quickly twelve months had passed, and the second year has shot by at even greater velocity.
I always said that you’re a start-up for the first three years. Only after then can you really assess the business as an established entity, and measure its trends and success (or otherwise). On that basis we are now two-thirds of the way through our start-up period, and I have to confess to elements of both pride and surprise in our achievements to date.
The smallest transaction we completed was less than £2k to lease some camera accessories for a freelancer, whilst the largest was a structured operating lease encompassing the fit-out of a new university technology centre with an investment of £5m.
In between these two extremes have been an aviation mortgage for a helicopter; a commercial loan for 300x TV screens on a cruise ship; a bridging loan to release a shipment of 3,000 graduation gowns from China before, upon landing in the UK, they were subsequently funded on an Enterprise Finance Guarantee-supported fixed term lease; a more traditional HP agreement for a chain-hoist; a £2m syndicated finance solution for a new TV studio; as well as all the usual cameras, lenses, lights, speakers, grip, projectors, LED-screens, data-storage, editing/grading/vfx systems, cars, trucks, computers…..etc.
All in we have increased our new business volume by 50%, our revenues by 40%, and the number of transactions by 20% compared to our achievements last year – and there are still a couple of weeks to go!
The broad variety of finance products we have been able to deploy – with the support and assistance of our exceptional panel of funding partners – has become an exciting aspect of the company’s evolution, enabling us to find a solution for every opportunity that we have encountered.
Whilst we have clearly been busy in the media sector, we are delighted with the success we have enjoyed in the renewables and education sectors – and our plans to develop those markets further are already well underway.
As it was last year, we have enjoyed further fruitful business with established friends, and met many new customers along the way. 2019 is already shaping up to be an even busier and more exciting year for us.
Thank you again to all who have continued to support and believe in us over these first two years – which have not been without a few challenges! We look forward to welcoming more of you as new customers over the next twelve months.
Wishing you all a happy and restful festive period, and a busy and successful 2019.
Gareth, Sam & Duncan