A Shropshire engineer has received a much-needed business grant thanks to help from a local accountancy firm.
Ben Kaye started his own business, Explorer Vehicle Engineering, in Mytton, near Montford Bridge, just over three years’ ago, and he needed financial support to buy new hi-tech equipment.
“My business offers a quality maintenance and repair service to owners and operators of all models of Land Rover vehicles,” said Ben.
“But to move the business forward, I needed to invest in a diagnostic computer so that I could work on the complete range of Land Rover models, right up and including the latest generation vehicles.”
So Ben turned to Dyke Yaxley Chartered Accountants, in Shrewsbury, for advice, and they helped him to apply to the Shropshire Business Enterprise Fund – run by Shropshire Council.
The fund provides grants to businesses who are finding it difficult to secure funding from banks and other lending institutions, to help companies through the difficult economic times.
Ian Middleton, Dyke Yaxley Client Tax Manager, said: “The grants are aimed at businesses that have been trading for between 9 and 36 months, and capital grants of up to £5,000 are available, to provide a maximum contribution of 50% towards eligible costs.
“Ben completed his business plan, which was exceptional, and our team helped him with the application form and cash flow projection.
“It’s excellent news that Ben’s application was successful, as the funding will really make all the difference to his business and help him to build a successful future in the motor industry.”
The grants from the Shropshire Business Enterprise Fund are purely discretionary, and businesses are required to demonstrate why they need the grant – but the process is also competitive, and meeting all the criteria is no guarantee of success.
Ben Kaye (left) and Dyke Yaxley’s Client Tax Manager, Ian Middleton, celebrate the successful grant application