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Business

SME funding boosts business

After receiving a six-figure funding deal, a supplier of thermal transfer, inkjet and laser labels is set to increase turnover by up to 30%.

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The Label Centre has invested in new digital label printing equipment as a result of the funding

Dudley-based The Label Centre received a £320,000 Asset Purchase deal with HSBC UK which it used to invest in ‘state-of-the-art’ digital label printing equipment.

The company’s work focuses on solving labelling problems caused by issues such as temperature, abrasion, difficult surfaces and hostile environments. As a result of the new equipment, it can now offer customers “the most durable finish” on a range of materials in challenging environments.

Commenting on the funding, Derry Bryan, director of The Label Centre says: “The funding from HSBC UK will allow our business to continue to remain competitive within the market, securing the jobs of current workforce and allowing us to recruit for new positions to help meet demand – all of which contribute to the longevity of the company.

The funding will allow our business to continue to remain competitive within the market, securing the jobs of current workforce and allowing us to recruit for new positions to help meet demand

“The bank’s SME Fund is perfect for businesses like ours who require the extra support to aid future growth.”

Stephen Pert, area director for Business Banking in the Black Country for HSBC UK, adds: “The funding from HSBC UK has allowed The Label Centre to invest in equipment which will allow it to fulfil changing demands in an increasingly complex marketplace.

“In addition, the increase in production capacity will enable the business to increase turnover creating improved potential for future growth.”

HSBC UK launched its lending fund, which is available for businesses with a turnover of up to £350m, in 2014. In 2019, the fund increased by £2bn and the bank now provides £14bn of funding to small-to-medium enterprises.

If you have any news, please email carys@linkpublishing.co.uk or join in with the conversation on Twitter and LinkedIn.


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