Eating out is a British small business success story. Consumer spending in restaurants has risen over the past five years, reaching £22.5bn in the last quarter of 2018. The number of restaurants and mobile food operators has tracked this upwards, reaching nearly 87,000 in 2017.
Accelerating growth for Formula 1 fan engagement supplier, The Events House
Set up in 2008 by longstanding colleagues Dave House and Adrian Tingle, The Events House (TEH) is an equipment-based sports marketing agency specialising in motor sport entertainment. With key growth funding from us, TEH will be able to invest in infrastructure and break into the wider market.
Based in Barton Under Needwood in Derbyshire, TEH provides fun and engaging activations for numerous clients over a number of sectors. Over the past 10 years TEH has developed an extensive relationship with Formula 1 (UK Entity) to deliver the F1 Fanzone worldwide.
Driving business development
Having established a strong brand for their business, Dave and Adrian looked at the company’s next stage of development. In order to break into the wider market, the directors identified key growth areas in which they could develop their infrastructure and create diverse income streams.
TEH approached ThinCats directly to facilitate this deal and worked closely with Kevin Steven, the regional Director of Business Development, who took the time to understand the complex nature of the deal, working swiftly to provide a bespoke and flexible credit-backed growth facility.
Dave House, Director of The Events House said: “We had identified a number of key opportunities to continue to grow our business. We had previously contacted a number of banks and lenders, who were unable to support our business due to the nature of the business. Kevin Steven immediately identified the key drivers of our business and saw the opportunities we had in the market. ThinCats worked quickly to make the funds available which has allowed us to grow our contract with F1 in addition to taking advantage of new opportunities.”
Kevin Steven, Director of Business Development South Yorkshire said: “In every business, investment and growth go hand-in-hand. But with the banks’ ability to lend severely restricted, we are still seeing a distinct funding and productivity gap between the UK and the rest of Europe. Alternative finance is well placed to plug this gap and provide key growth funding to ambitious businesses. It was great to work with the team at TEH who demonstrate a keen awareness of their market, backed by extensive experience. We look forward to working with them again in the future.”