A North East video production company set up by two schoolfriends has secured a five-figure investment from the North East Small Loan Fund Supported By The European Regional Development Fund.
YourFilm produces TV and cinema commercials, promotional videos and training films for clients including Nissan, Tombola, Intu MetroCentre, Frank’s The Flooring Store and the NHS.
The Gateshead-based firm is now looking to scaling up to attract more and larger clients from outside of the region. It worked with regional fund management firm NEL Fund Managers to secure the investment which will support its marketing drive and allow for more business development resources to be brought it.
YourFilm, based at Gateshead’s Northern Design Centre, was set up by managing director Matthew Newman and creative director Kevin Owens in 2005.
Newman said: “Video in all its forms has become arguably the predominant form of advertising over the 15 years we’ve been in business, and there’s no sign of this trend slowing down in the foreseeable future.
“We’ve come a long way since setting up the business, and can see real opportunities to accelerate our growth by building on the work we’ve done for some big brands over the past few years.
“Scaling up our operations will help us attract more and bigger clients, which will then give us the chance to compete for bigger budget projects, which tend to originate outside the region, and showcase the creativity and innovation that’s been central to our achievements so far.
“This investment allows us to expand the business development resources we have available, which will in turn enhance and underpin the long-term sustainability of our business.
“Working with the NEL investment team was pretty straightforward and Jon’s expert support in completing the investment process made a big difference.”
The £9m North East Small Loan Fund is part of the £120m North East Fund and is aimed predominantly at smaller SMEs. It typically offers loans of between £10,000 and £50,000 to businesses in Tyne & Wear, Durham and Northumberland and is designed to assist with the creation of over 1,200 new regional jobs in more than 320 SMEs.