Dynamic Load Monitoring (DLM) of Nursling are a highly innovative and entrepreneurial company. At the sharp end of creating solutions in load monitoring in marine and subsea applications, DLM engaged Ian Thomas of the Southern Group Business Advisors.
Originally engaged to look at strategy and provide some direction to the overall growth plan, both UK and Export, Ian worked with the team to identify key drivers, measurables and milestones. During the assignment, DLM were given the opportunity to purchase the building next door, allowing expansion without the need to relocate their current facility, a building that would stunt their growth plans.
The plan to buy the next building and invest in new capital equipment, whilst increasing staff by 50% was part of the strategy.
“It became apparent to us that Ian was well connected and seemed to know about every bit of Government assistance applied to small growing businesses” said Jeff Halford, Director.
Ian was tasked with looking at funds from the Local Enterprise Partnership (LEP). “We had never heard of an LEP until Ian enlightened us” added Martin Halford, Managing Director. “Ian told us of ‘Bridging the Gap’ funding that seemed on face value ideal for our project. Of course we did not have the time to look at this, so we tasked Ian with looking at this, given his prowess in writing business plans, and raising bids”.
“Needless to say the project was a success, and we secured a £75,000 grant after 3 months preparation thanks to Ian’s efforts” Martin added. The funds were guaranteed by HM Government’s Regional Growth Fund.
Outcomes for DLM are that the project can go ahead without the worry of over stretching the finances to the point of vulnerability. It also is the spur to create the jobs needed to meet the exciting plans at DLM.