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Home » News in Brief

Training provider secures £750k of growth capital funding from Finance Birmingham…

Submitted by on January 31, 2014 – 9:35 am |


Mahmudur Jaigirdar - Director at Succeed- Clive Broadhurst - Investment Executive at Finance Birmingham Ian Allen - Chief Executive at SucceedTraining provider, Succeed has secured £750K capital funding from Birmingham City Councils Business Loan Fund via Finance Birmingham, which will create 30 new jobs in Birmingham, whilst safeguarding a further 42 jobs across the company.

Based in the Jewellery Quarter and founded in 2011, Succeed is a training provider focussed on the adult further education market. With over 1,800 work skills courses delivered since its inception, Succeed currently has 150 apprentice programmes in process, and a further 250 commencing shortly. It also works alongside organisations such as Marks & Spencer, TK Maxx and National Express to help deliver their personnel requirements.

The monies will be used towards both new training workstations and leasehold property, and to support the on-going delivery of recent contract wins with the Skills Funding Agency.

The Business Loan Fund is a groundbreaking initiative offering a £10 million package of loans to small and medium businesses (SMEs) based in Birmingham. The loan fund supports a diverse range of profitable Birmingham companies which have previously been unable to access funding through the banks.

Clive Broadhurst, Investment Executive at Finance Birmingham said: “Succeed is a well run  business providing a demonstrable uplift in the training, qualifications and skill base of often younger people – exactly the type of business that the Business Loan Fund was made available for.”

 

Ian Allen, Chief Executive of Succeed said: “The funding from Finance Birmingham  has provided the working capital we needed to employ more staff and increase our level of activity, enabling us to deliver more training and apprenticeship programmes across our key sectors and operate on a significantly larger scale.”


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