Lowestoft: Pipeshield secures £100,000 from New Anglia LEP’s Growing Business Fund
06:00 13 February 2014
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The founder of Lowestoft-based Pipeshield says the business is looking to double sales and invest in new sites in the town and Great Yarmouth after securing £100,000 of funding to support its growth plans.
The firm, which creates protection products and services for underwater pipelines and cables, secured the cash from New Anglia Local Enterprise partnership’s Growing Business Fund.
Since the launch of the £12million fund last year, 25 businesses have been supported creating more than 290 new jobs. Smaller grants of between £5,000 and £25,000 will also be available in the next few weeks.
Established in 1999, Pipeshield was last year presented with a Queen’s Award for Enterprise after increasing its overseas business by 56% in the past three years.
Founder Steve Howlett said: “Our business plan is about growth and this grant has helped us spread the risk, as we expand our workforce and seek new contracts.”
Chris Dashper, Growing Business Fund manager at New Anglia, said: “We’re looking for companies to demonstrate how they could create a job for every £10,000 of grant. The application process is simple, straightforward and we’re keen for businesses to get in touch to discuss funding possibilities.”
: : To find out more about the fund visit www.newanglia.co.uk .