With a steadily increasing client base, a change of ownership on the cards and a desire to expand geographically, South Yorkshire accountants and business advisory firm Eyre & Co. needed to boost its short term working capital to ensure it could realise its ambitions.
The Doncaster and Sheffield based company’s team of eight serve around 500 small and medium sized businesses. Three years after Eyre & Co. was established, following the acquisition of an existing practice, a change in ownership of the business was required – a move that would also allow it to progress a number of its other long term plans.
The availability of working capital was crucial to the company at this important stage, which is where Reward was able to assist through our Business Finance product after Eyre & Co. spoke with Trusted Business Partner (TBP), run by James Clinghan.
The £140,000 cash injection that Reward Finance Group’s Business Development Director, Harriet Gibbs, brokered in conjunction with TBP will enable Eyre & Co. to simplify its ownership structure. It also enables the company to push ahead with its expansion plans, which include the opening of an office in the Nottingham area to develop an East Midlands presence.
It was a straightforward and hassle-free process according to Andrew Eyre, Practice Manager at Eyre & Co., who said,
“Dealing with Harriet and Reward was a real pleasure and made what could easily have been a stressful and demanding request, extremely simple and easy. Harriet was thoroughly knowledgeable, professional and extremely supportive at every step of the way, a complete change from traditional finance providers and such a refreshing way of working. I wouldn’t fail to recommend her and Reward to anyone, and I am sure they will become a trusted source of support for years to come.”
Harriet Gibbs, Business Development Director at Reward Finance Group added,
“Eyre & Co. have a clear vision for their next chapter with a tremendous opportunity for growth, and we are pleased to be able to support them. The Business Finance solution we have provided was ideal for unlocking their growth potential, enabling them to leverage the value of assets to provide a flexible working capital facility which can be used to realise their goals.”