Driving firm fast tracks growth

A BIRMINGHAM business, launched just 12 months ago, is expanding across the UK after securing £180,000 of Government backed finance through the Enterprise Finance Guarantee (EFG) scheme.

Young Driver, which teaches young people aged between 11 and 16 to drive, embarked on its growth after being inundated with young people wanting to learn how to drive.

Statistics show it is a lack of experience, and not age, that cause many newly qualified drivers to have accidents.

“One in five young drivers crash within six months of passing their test,” said Kim Stanton, marketing manager for Young Driver.

“Research from Sweden has shown that giving young drivers experience before they turn 17 can reduce road accident rates by 40%.  Young Driver was set up to provide a fun yet educational environment where young people can gain important driving experience before they turn 17 years old.  We were overwhelmed by the response.”

After securing finance through the EFG, the company has opened venues in Kent, Manchester, London and, most recently, Bristol. It is now looking to open a further three venues.

Combined with this, it has secured sponsorship from Admiral MultiCar, SEAT UK and Pirelli.

The Government-backed EFG Scheme is designed to give smaller businesses the necessary working capital or investment finance to help them through the difficult economic climate.  Under the scheme the government will guarantee 75% of any loan made.  

Andrew Green, senior relationship manager for NatWest, said: “Young Driver is a very innovative idea which has become very successful very quickly.  The management team have hit upon an excellent business which is not only making great progress but also helping the economy by creating work and making the roads safer.”