Stockport Business Finance Scheme hits the right notes with DJ Synkro
DJ and music producer Joe McBride is launching a new record store and café in Stockport using an £8,000 loan from the Stockport Business Finance Scheme, through their funding partner GC Business Finance.
Based on Little Underbank in Stockport, SK1 Records will specialise in new and second-hand vinyl records along with CDs, cassettes and accessories such as art prints and label merchandise.
The business already trades successfully online, and the new premises will include a café selling locally-sourced coffee, soft drinks and cakes.
Performing as Synkro, Joe has been making music and DJing at festivals and clubs across the world for the past 10 years, amassing a collection of more than 7,000 records which will form the initial stock for the new shop.
He is investing the £8,000 loan in refurbishing the shop, sourcing additional music, introducing new services such as a professional record cleaning service, and hosting events with local DJs.
Joe said: “I know the music industry inside out but have never had to raise finance before, so being able to go to Stockport Council and find all the support I needed in one place has made an enormous difference to the pace at which I’ve been able to get SK1 up and running.
“They put me in touch with GC Business Finance and, from start to finish, the process of securing the funding took less than five weeks.
“That meant that I was able to focus on finding the right premises and getting SK1 up and running, being able to get the right advice and knowing that the financial side of the business was taken care of.
“What we’ll be bringing to the new shop is a unique collection of contemporary electronic and pop music and memorabilia, designed to meet the demands of customers who love vinyl, but want something that reflects what they’re listening to in clubs and festivals.”
Ashley Alletson, loan manager at GC Business Finance, said: “Joe is a great example of an ambitious young business that we have been able to work closely with Stockport Council to support.
“He has a great track record in the music industry which he is now able to draw on to source his stock, to increase awareness of his new venture, and to attract DJs and musicians to the new store which will play a big part in Stockport’s impressive leisure and retail renaissance.”
Cllr Kate Butler, Stockport Council’s cabinet member for economy and regeneration, said: “We’re committed to working with young businesses like Joe’s to help them thrive and succeed here in Stockport.
“One way we do this is by making sure entrepreneurs can get access to the right advice at the right time and have the opportunity to benefit from great schemes such as the Stockport Business Finance Scheme.
“I wish SK1 every success for the future in our Underbanks and would encourage other companies and entrepreneurs to look at the business support that is available to help them.”
GC Business Finance will see £15m allocated to new start-ups across the North West over a two-year period, creating around 3,000 new businesses and more than 5,000 new jobs in the region.
GC Business Finance is the finance arm of The Growth Company and supported by the GM Combined Authority and Greater Manchester Local Enterprise Partnership.
It is a key alternative source of funding for businesses in Greater Manchester and has grown a comprehensive range of finance products from £500 through to £500,000, with support on raising early stage equity through the GM Co Investment Fund of up to £2m. GC Business Finance currently manages more than £100m of publicly-backed small business investments across the UK.
GC Business Finance is the North West delivery partner of the Government’s national £310m Start-Up Loans programme and a lending partner of the Greater Manchester Combined Authority.