Audio visual experts secure vital funding

A Telford-based audio-visual hire company has secured £100,000 from the Midlands Engine Investment Fund for a job-creating move to a new warehouse.

Blue Hire, which supplies equipment to the likes of ASOS, eBay, Nike and Budweiser, has secured the investment from BCRS Business Loans, which manages the WM Small Business Loans fund for the MEIF.

Steven Klein, managing director of Blue Hire, said: “Technology doesn’t stand still. It's constantly evolving, which means our company needs to as well. We used the business loan to purchase new, state-of-the-art equipment and move into a larger warehouse in Telford.

“The company has grown year-on-year since its inception in 2016 as technology continues to be an excellent way of engaging people at events and exhibitions. Our expansion means that we have more equipment available to rent to meet the needs of our growing customer base."

Tracy Sherratt, business development manager at BCRS Business Loans, said: “We believe that no viable business should go unsupported. We understand how important companies such as Blue Hire are for the prosperity of our local economy and for creating employment opportunities.”

Paul Hinkins, chairman of the Marches Growth Hub that supports MEIF in the region, said: “The growth of businesses, especially those in sectors like technology, underpins the economic prosperity of the region as a whole so it is vital that companies like Blue Hire can access the funding they need to build a sustainable future."

Pictured: Tracy Sherratt (BCRS Business Loans) and Steven Klein (Blue Hire Ltd)