CCTV firm expands to meet local
A high-tech digital surveillance company is expanding to
meet rapid demand for its services with the help of investment
from Objective One project Finance Cornwall.
Finance Cornwall is a £20 million investment fund which
is backed by £9 million from the Objective One European
Regional Development Fund, £10.12 million from Barclays
Bank and £880,000 from Cornwall County Council.
Perspective CCTV Ltd, which was set up two and a half years
ago, has secured an £80,400 investment package with
support from the Finance Cornwall Growth Fund.
The investment will create two new jobs and enable the company
to purchase IT equipment, new vehicles and invest in staff
training to build up the business.
Perspective CCTV specialises in digital closed circuit television
(CCTV) surveillance systems, the business employs five full-time
members of staff on the Newham Industrial Estate in Truro.
The company has enjoyed a busy first year and has secured
contracts with big name clients such as Rodda's Creamery,
Toshiba, Wrigley's, Jewson and even Lords Cricket Ground.
With businesses becoming increasingly security conscious
in recent years, the market for CCTV products has taken off.
Perspective CCTV was set up to specialise solely in the sale,
installation and maintenance of digital CCTV systems which
are far more flexible than older analogue models.
Digital technology enables clients to record high quality
surveillance footage directly to a digital hard drive, resulting
in high quality, easily searchable footage which can be viewed
in real-time through locally sited TV monitors or remotely
through a secure internet site.
In March the company moved from St Austell to larger premises
in Truro, which include a special demonstration room to show
potential clients the benefits of digital surveillance and
to match the right system to the client.
The room is also equipped with the latest ISDN and ADSL broadband
communications technology so that customers can select the
appropriate delivery method for their package of remote access
Andrew Oakes, managing director of Perspective CCTV said: "We've already seen a fantastic first year of business
with many of our larger, high value installation contracts
completed, as well as establishing important relationships
with many smaller local companies."
Recognising the potential for his business to grow, Andrew
appointed local accountants Lang Bennetts to draw up a financial
projection from which he could assess what could be done to
take advantage of market opportunities.
Andrew added: "It was evident that in order to move
the business on to the next stage of development investment
was required, and I am delighted that Finance Cornwall has
been able to help in providing an important part of the investment
package to enable me to secure additional finance."
Perspective CCTV's investment package includes a loan from
the Finance Cornwall Growth Funding Initiative, with additional
funding from Lloyds TSB and a vehicle finance company.
Finance Cornwall investment fund manager Jeff Lenihan, said: "Although Perspective CCTV is a relatively new company,
it has already proved itself in terms of its ability to provide
a quality service to a varied client base. Finance Cornwall
recognised the company's potential, which is why we were delighted
to provide finance to enable the company to grow and prosper
and build a solid future."
Michael Johns, partner at Truro based accountants Lang Bennetts
said: "We are increasingly finding that dynamic businesses
such as Perspective CCTV need extra funds to finance their
growth. We specialise in helping businesses to raise finance
and we are delighted to have helped Andrew to secure this
Finance Cornwall is a £20 million investment fund for
businesses in or locating to Cornwall. It can invest from
as little as £5,000 to £650,000 and can help with
business start-ups, growth funding, business acquisitions
or business sales. Finance Cornwall can also help applicants
with business planning and provides an ongoing mentoring service
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
For more information contact:
0845 454 8003
Objective One Partnership Office
Truro TR1 2UD
Tel: 01872 241379
Fax: 01872 241388
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