Council support seals major business boost
Expert business advice from Blaby District Council has helped a Glen Parva firm secure a new £3 million contract.
Business Growth Officer Alfred Bawak assisted bosses at Summit Engineering in obtaining financial support from the University of Derby.
The £200,000 in loan and grant funding meant Summit was able to commit to buying the specialist new equipment to deliver the contract, making parts for a Leicester-based division of a global construction equipment supplier.
The firm plans to invest £850,000 in a top-of the range robot welder, a hi-tech lathe and robotic stacking and loading system, an advanced vertical milling machine plus other ancillary machinery and tooling over the next two years.
Manufacture will ramp up in stages with six existing jobs safeguarded and 10 new roles created.
The investment also means the company can streamline and speed up processes, turning out parts in just three minutes when it used to take 15. This will enable them to exploit previously untapped markets and quote competitively for major new work.
While the loan and grant made up just a proportion of the funding required, it was instrumental in ensuring Summit could order the first lot of new machinery and satisfy its customer of their capabilities.
Summit Managing Director Michael Measey said: "We have been making parts for this customer for some years but we knew we would have to invest in machinery if we won this contract. That meant we’d need finance. We weren’t really aware of the help available out there from Blaby District Council to be honest. Then we received a circular from Alfred about the potential grants and loans available. He came in and spoke to us and was very knowledgeable.
"He organised a meeting with the loans officer at the University of Derby and he helped us tremendously with the application process. I think without Alfred we might have got a bit frustrated with the process, and we would have had to borrow a lot more money if it wasn’t for his support."
Links with the University of Derby to obtain funding is just one aspect of the support available for businesses from Blaby District Council.
Help and advice are on offer to all enterprises, whether start-up or established.
Councillor Terry Richardson, Leader of Blaby District Council, said: "A thriving economy within Blaby District is one of our priorities. It’s brilliant to see our business advice service has helped ensure this local company can not only safeguard existing jobs but create new opportunities and expand their manufacturing. This is great news and a huge boost for a local company and the local people it employs."
Councillor Terry Richardson
Leader of the Council