A successful North East video production company founded by two schoolfriends is ready to roll after securing a five-figure investment from the North East Small Loan Fund Supported By The European Regional Development Fund.
YourFilm produces TV and cinema commercials, promotional videos and training films for a wide range of well-known clients, including Nissan, Tombola, Intu MetroCentre, Frank’s The Flooring Store and the NHS.
The Gateshead-based firm is now looking to build on its success so far by scaling up its business development activity, attracting more and larger clients from outside of the region.
It worked with regional fund management firm NEL Fund Managers to secure the investment which will support its marketing drive and allow for more business development resources to be brought it.
Jon Dudgeon, partner at Blu Sky Chartered Accountants in North Shields, recommended NEL to the YourFilm management team.
Based at Gateshead’s Northern Design Centre, YourFilm was set up by managing director Matthew Newman and creative director Kevin Owens in 2005 and works with many well-known clients in the North East, as well as others nationally and internationally.
Matthew Newman says: “Video in all its forms has become arguably the predominant form of advertising over the 15 years we’ve been in business, and there’s no sign of this trend slowing down in the foreseeable future.
“We’ve come a long way since setting up the business, and can see real opportunities to accelerate our growth by building on the work we’ve done for some big brands over the past few years.
“Scaling up our operations will help us attract more and bigger clients, which will then give us the chance to compete for bigger budget projects, which tend to originate outside the region, and showcase the creativity and innovation that’s been central to our achievements so far.
“This investment allows us to expand the business development resources we have available, which will in turn enhance and underpin the long-term sustainability of our business.
“Working with the NEL investment team was pretty straightforward and Jon’s expert support in completing the investment process made a big difference.”
Part of the £120m North East Fund and aimed predominantly at smaller SMEs, the £9m North East Small Loan Fund typically offers loans of between £10,000 and £50,000 to businesses in Tyne & Wear, Durham and Northumberland.
It is designed to assist with the creation of over 1,200 new regional jobs in more than 320 SMEs over the life of the fund.
Mike Guellard, investment executive at NEL Fund Managers, adds: “YourFilm has an excellent market reputation and an ambitious plan to take its operations to the next level, a plan in which we’re very pleased to be able to invest.”
The overarching £120m North East Fund will provide financial support for more than 600 businesses, creating around 3,500 jobs and delivering a legacy of up to £80m for further investment into the region.
NEL Fund Managers is actively looking for potential investees from Tyne & Wear, Durham and Northumberland to put their investment ideas forward.
For more information about NEL’s investment criteria, visit www.nel.co.uk or contact the investment team on 0345 369 7007.