Inflatable body boards come to West
Beachgoers throughout West Cornwall will soon be able to
hit the waves with a new inflatable body board that is already
proving a big hit with surfers in the US and down under.
The Surfster, which was invented in Australia, is a full-size
inflatable body board that rides the waves as well as a conventional
board but with the big advantage that it can be rolled
up and put in a bag.
And now, thanks to investment from Finance Cornwall, the
£20 million investment fund for business in or locating
to Cornwall and the Isles of Scilly, the Surfster is available
here. Finance Cornwall has helped put together a £125,000
investment package for Surfster Europe Ltd, a new Cornwall-based
company run by business partners Jason Bone and Jeremy Price.
Jason explained: "The Surfster is a brand new product
and sales have skyrocketed in the US and Australia. We now
own the European distribution licence and have started to
market the Surfster through trade shows in this country and
Europe. We also want to market the different models through
other retailers like Toys 'R' Us who we hope may
be especially interested in our junior model, but to do that
we need to develop the company."
The Surfster deal means Finance Cornwall will soon have helped
lever £1 million of total investment into Cornish businesses.
But chief executive Robin Teverson isn't complacent,
and has just launched a new Succession Fund that he thinks
will be of particular interest to businesses in West Cornwall.
He said: "Research has shown that West Cornwall
and Penwith in particular has one of the highest percentages
of owner-managed businesses in the country. What the Finance
Cornwall Succession Fund does is provide these owners with
a means of selling all or part of their business while safeguarding
the future of the business in Cornwall and the future of its
"The last thing an owner wants to do is sell up to an
outsider who then relocates or even closes the business. They
want to be sure that what they have spent a lifetime building
up remains in Cornwall with people they can trust, so the
business can grow and prosper. Our Succession Fund, which
we have just launched in response to demand from local businesses,
can help do just that."
Finance Cornwall has four investment funds offering a combination
of loans and equity ranging from just £5,000 to £650,000
to small and medium sized businesses that cannot source all
the funding they need from elsewhere.
Funding is available to businesses whose principal place
of operation is, or will be, in Cornwall or the Isles of Scilly.
The funds are managed by Alliance Fund Managers Ltd, which
is regulated by the Financial Services Authority in the course
of investment business.
To find out more visit www.financecornwall.co.uk
Finance Cornwall background
Finance Cornwall is a £20 million investment fund backed
by £9 million from the Objective One European Regional
For more information contact:
Objective One Partnership Office
Truro TR1 2UD
Tel: 01872 241379
Fax: 01872 241388
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