Welding business gets boost thanks to start-up loan

A welding business with a difference has received a start-up loan from the British Business Bank.

Alastair McGoldrick received an £18,000 loan from the British Business Bank’s Start Up Loans programme to help him develop his welding and fabrication business in Bridport.

Arc Edge Metalwork started out as a part-time project in Alastair’s garage before the experienced engineer decided to leave his full-time job in July to concentrate on running his increasingly successful business.

After applying for a Start Up Loan, Alastair was recently able to invest in the equipment he needed to take on more work before moving to a new unit.

“Having that money behind me has been very important,” said Alastair, who first learned to weld when he was 15 years old.

“I probably could have moved into the new unit without it, but I would have been walking on a tightrope,” he added.

“I would have been doing a couple of jobs here and there before waiting for the money to come in before I could then reinvest in the business.”

With the loan in place, Alastair has been able to buy vital pieces of kit, including a welding table, plasma cutter and a trailer for his mobile welding service.

Arc Edge Metalwork also offers a maintenance and repair service as well as bespoke projects.

Alaatair can turn his hand to pretty much anything, from arborists trolleys to gym and fitness equipment, fences and furniture.

He has even found time to work on his incredible sculptural pieces. His infinity cubes are proving to be really popular, and he’s had product orders from all over the world, from Australia to the United States.

Alastair says applying for a Start Up Loan has been a real steppingstone to success, adding that the loan application process was a useful exercise because it forced him to plan his business in more detail, including his cashflow and sales and marketing strategy.

“I’d recommend going to Start Up Loans to other small businesses for the business planning they make you do alone,” said Alastair. “I was very impressed with how robust the business plan was. Going through it really made me think long and hard about what I was doing and what the money was for.” Having the right finances in place has given Alastair the confidence he needed to develop Arc Edge Metalwork. He now hopes to carry on building his customer base and even hopes to take on an apprentice in the future. “I’m really enjoying it,” said Alastair.

“I like the fact that every job is different and I’m in charge of my own destiny.”

Start Up Loans is a government-backed scheme form the British Business Bank available to people looking to start or grow a business in the UK. It offers unsecured loans of up to £25,000 with a fixed interest rate of 6 per cent, repayable over one to five years. Successful applicants also receive 12 months of free mentoring to help them succeed. Find out more at startuploans.co.uk