NPIF investment helps firm increase turnover by 50 per cent
Manchester-based PowerPoint presentation specialist, Buffalo 7, has increased its turnover by 50% following support from NPIF – FW Capital Debt Finance, part of the Northern Powerhouse Investment Fund.
Established in 2010 as a one-man band, Buffalo 7 specialises in building and designing PowerPoint presentations for major international clients, from intimate pitch meetings to auditorium-filling events. The firm also delivers thought-leadership talks and workshops internationally to share their knowledge of the industry.
Two loans totalling £230,000 provided by NPIF have allowed Buffalo 7 increase its turnover from £1.2m to £1.8m and grow its headcount from 21 to 35 staff members. The funding has also enabled the business to enhance the infrastructure of its office space and service major global clients including Epson, Dell, Swiss Re and Astra Zeneca.
The firm has plans to expand globally; opening an office in the US in 2019 and Asia in 2020.
Since its launch in February 2017, NPIF has delivered equity finance, debt finance, and microfinance solutions, ranging in size from £25,000 to £2m to businesses across the 10 Local Enterprise Partnerships (LEP) that make up the ‘Northern Powerhouse’ region. NPIF has so far invested a total of £110m in ambitious businesses across the North of England.
Richard Barnes, managing director of Buffalo 7, said: “From starting out in 2010 as a one-man band, we have grown immensely over the last nine years. What is critical to us now, is that we are able to continue to attract people with the right skills and expertise, have the latest technology and equipment at our disposal and be in the right location and office environment to allow the business to continue to flourish.
“We were guided by the team from FW Capital every step of the way with the application and funding process, and were able to complete our office move and upgrade our equipment as part of our long-term plans for growth.”
Grant Peggie, director at British Business Bank, said: “It is pleasing to see that Buffalo 7 has increased its turnover significantly since receiving funding from the Northern Powerhouse Investment Fund.
“The progress the company has shown since receiving funding exemplifies the work that NPIF does to support small and medium sized, growing businesses across the North of England. We support small and medium businesses as they grow their product offering, secure additional clients, create skilled jobs and innovate in their industries.
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.