VS trebles in size and is on course for £3m revenue
VS Group has trebled in size after being awarded a £49,900 loan by Business Finance Solutions from the £3m North West Fund for Micro Loans to expand its voluntary services telecommunications business.
Since receiving the loan earlier this year VS Group turnover is on target to hit £1m, creating eight new jobs at its offices in Spinningfields, Manchester and now has more than 400 clients including law centres, Bluebell Children’s Hospice and the Police Treatments Centre.
The Fund, managed by BFS and the Merseyside Special Investment Fund (MSIF), has been closely tailored to the investment needs of the region’s businesses and provides loans of £25,000 to £49,999 to businesses at all stages.
Established in 2012 by director Kevin Penman, VS Group specialises in providing low cost communications solutions to the voluntary services and charity sectors.
It works with partners to offer lower prices and bespoke communications solutions that enable charities to keep costs down across call charges, line rental, hardware and Cloud storage.
Over the last three years VS Group has saved its charity customers more than £1m worth of costs. The company has also held and supported many fundraising events, which have enabled them to help smaller charities obtain start up equipment.
Penman said: “In a sector where every penny counts, any cost-saving that charities make can be saving or improving lives. Thanks to the loan from the Micro Fund we have been able to really expand our team in operations, telesales and engineering, enabling us to reach even more organisations with our unique savings and service.
“Our proposition means that we can help charities looking to reduce their current telecommunications costs, as well as upgrading and improving their existing telecoms infrastructure.”
Mark Gibbons, Business Loan Manager at BFS, which is part of the Manchester Growth Company, said: “When they came to us for the loan Kevin and his team at VS Group had already achieved significant penetration into the charity communications market.”
