Published: 00:02, 03 April 2014 |
A digital marketing agency has become the first company to gain funding through a council-run interest-free loans scheme.
DotImpact based in Kings Hill aims to boost sales and take on staff with the “substantial sum” of money it was awarded through Escalate, a scheme targeted at businesses in west Kent.
Founded by Amanda Robinson in 2011, the firm’s financial performance has grown 390% since then.
The company primarily helps SMEs in Kent grow their digital presence with marketing campaigns.
It employs 12 people and aims to use its new funding – in the tens of thousands of pounds – to initially employ another three to four staff.
“I wouldn’t say getting the money was easy. The paperwork was hefty to say the least..." - DotImpact founder Amanda Robinson
The company was awarded the money after outlining plans to grow its client base from 38 to about 250 by 2017, increasing staff levels to about 25 people by that time.
Ms Robinson, who lives in Kings Hill, said: “I wouldn’t say getting the money was easy. The paperwork was hefty to say the least.
“But now we have the support of the Escalate fund, our plan is to create employment opportunities within the business with the aim to help further SMEs in Kent achieve their growth potential.”
The £5.5m Escalate pot was launched by Kent County Council in December – using money from the government’s £3.2bn Regional Growth Fund – and aims to create and protect 1,250 jobs through more than 150 businesses.
It covers Maidstone, Sevenoaks, Tonbridge and Malling, Tunbridge Wells and Wealden areas, as well as Hastings and Rother.
Mother of two Ms Robinson says her location at Kings Hill has been a big factor in her firm’s rapid expansion.
She said: “It’s been a fantastic environment for us to be in.
“It’s a hub of SMEs and we have signed up so many clients on our doorstep.
“We are looking at using the fund to take the message out to other areas in Kent.”
Meanwhile, more than 20 businesses have already clawed in cash through another Kent County Council scheme – the TIGER fund.
In the last year, the £20m fund has handed out more than £6.8m in loans to companies across north Kent, Medway and Thurrock.
At a reception at Princes Park in Dartford, businesses shared their stories of how they have been able to put money into new products and services as well as long-term job opportunities.
Among the benefactors is Jim Shaikh, whose invention the Yoomi baby bottle heats a feed to the temperature of breast milk.
After receiving £200,000, his company can move to larger premises in Rochester, increase production and take on more staff.
He said: “For us to move to the next level of business we do need an injection of capital to break down some of those barriers.
“It’s an injection of cash at the right time to really pump prime your business. It frees us up for the expansion we know is coming.”
Logistics firm Nicholls Transport in Sittingbourne will use its £2.4m loan to invest in more vehicles and move to a larger site.
Chief executive Paul Nicholls said: “The TIGER fund has enabled us to develop locally, keep the staff that we’ve got in the Swale area and indeed employ more.
“The fund has enabled us to invest some serious money in a larger fleet and therefore we can bring forward our programme of more employment.”
Don't miss out, subscribe today. Keep up to date with our newsletters.
A guide for your future. For year 11 students in Kent and Medway. Click here for the e-edition.
Education, Training & Childcare is a special supplement published by KM Media Group four times a year. Click here for latest e-edition.
Get the latest food and drink news, recipes from some of the nation's top chefs plus updates from Kent's vineyards and breweries.
Search in your local area to find your perfect partner in Kent, with FreshStart Dating! PLUS, register for free!.
Find out what's going on in the garden, with Kent expert Lucy Hewett's weekly update.
Buy pictures that you've seen in a KM newspaper, or send in a picture and we will place it on our photo sales website so that you can purchase a super, unique gift.