Lancashire County Council has made its first investment into telecoms firm VS Group, which specialises in providing for the not-for-profit sector.
The £100,000 investment comes from the council’s Rosebud Fund, managed by GC Business Finance, and will take place over a five-year period.
Lancashire County Council’s Amin Vepari said: “Supporting and investing in businesses like VSG fits with our ethos and purpose for Rosebud ensuring we provide an accessible platform for growth to the County’s ambitious businesses.”
The Lancashire-headquartered VS Group, which also has an office in Manchester VS group, said it plans double in size and hit 1,000 charity clients within the next five years with the investment.
The group, established in 2012, provides broadband, internet, cloud hosted and PBX systems and photocopiers to 300 clients and works with charities including Citizen’s Advice Bureau, MIND and MenCap.
The investment will allow the group to increase the number of staff from 13 to between 15 and 16, which will help it expand its presence across the north west and Yorkshire, it said.
It will also enable the business to service customers better and develop its sales strategy, the group added.
Kevin Penman, managing director of VS Group, said: “Since establishing seven years ago, our aim has always been to assist voluntary and charitable bodies to gain access to leading-edge technology at reasonable rates.
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“These charities do incredible work and this investment from the Rosebud Fund will enable VSG to grow rapidly as we look to expand our client base across the regions and help more not-for-profit organisations help more people throughout the 海角视频.”
The Rosebud Fund has been designed to create some 150 jobs per year, focussing on high-growth sectors including energy and environment, health, manufacturing and professional services.
Mark Gibbons, senior business loan manager at GC Business Finance, said: “We are excited to have completed the first transaction from the Rosebud Fund and are looking forward to working with Lancashire’s SME community to drive growth across the region.
“VSG is centred around helping people directly through its work with charities or indirectly with the people that benefit from its support, and its expansion across the North and Yorkshire will enable it to provide the highest quality advice and have a direct impact on local areas and the charities that work within them.”