ktsowensthomas raise over £2 million

A leading Welsh accountancy firm has bucked the lending trend and raised over £2 million for several of its clients during the past six months.

At a time when the credit crunch has drastically reduced the opportunity to raise finance, ktsowensthomas, which has offices in Cardiff and Aberdare, has assisted clients to raise funds through the government’s Enterprise Finance Guarantee Scheme (EFG) and other bank funding from a range of sources.

Over £600,000 has been raised through EFG which was launched at the beginning of the year in an effort to stimulate bank lending to businesses. This includes just under £300,000 to S Morris Groundworks Limited, a leading groundworks company working on sites across south Wales and the south-west of England. Funding has enabled the company to grow despite operating in the much troubled construction sector.

An additional £100,000 has been raised for Bridgend-based Creative Packaging Limited to help the expansion of company which supplies packaging to the Welsh Whisky Company and Authentic Curry Company.

Lyndon Powell, director of Creative Packaging Limited, said: “In today’s tough environment there was some trepidation about raising the level of funding required to take our business forward but we have been delighted by the response from ktsowensthomas and the EFG suited our needs perfectly.”

£1.4 million has been raised to fund a new self storage facility in Bridgend. Easystore Self Storage has developed a 30,000 square foot site on Brackla Industrial Estate to create 300 storage units for commercial and public use.

Craig Blackmore at ktsowensthomas, said: “As we’re all aware 2009 has been a difficult year to source funding but the finance is there. There are people lending and investing, you just need to know where to look and how to sell them your story. Where companies have been able to demonstrate that they have a good opportunity, we have been able to package and present that in such a way that makes it attractive and viable to the funder. You also need to be very realistic and have a convincing plan to present to funders.

“If there are businesses out there looking at expansion or investment opportunities or are looking for ways to safeguard the future of their business, we would urge them to get in touch.”

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