Success Story
Reel Film, a video production company in Wetherby, sought a £70,000 loan through the Growth Guarantee Scheme (GGS) to expand the business. Facing a shift in the industry toward short content projects, the loan allowed Reel Film to grow its marketing and sales efforts and hire a dedicated business development team.
| Region/Nation | Yorkshire and Humber |
|---|---|
| Sector | Arts, Entertainment and Leisure |
| Programme | Growth Guarantee Scheme |
| Partner |
Adam Chandler, Founder of Reel Film, a Wetherby-based video production and animation company, has leveraged his background in the film industry and experience with the BBC to establish a successful business delivering impactful visual content across various sectors, including marketing communications. However, as the industry shifted towards quick, short content projects, Reel Film faced a challenge to continue to grow the business in an ever-changing market. To address this, Adam sought financial support to drive growth and capitalise on the emerging market opportunities.
The path to growth
Reel Film applied for a £70,000 loan through the Growth Guarantee Scheme, with funding provided by Finance Yorkshire via the FSE Group which manages Finance Yorkshire’s loan fund. The investment was aimed at expanding the company's marketing efforts and sales capabilities.
The investment was crucial for us to increase our marketing and sales capacity, including the appointment of new staff. We aimed to build a dedicated business development team to support our growth and attract potential customers through new content generation.
- Adam Chandler Founder, Reel Film
The loan application process was straightforward for Adam. He submitted a detailed business plan and articulated his vision clearly, which showcased his commitment and understanding of his business needs
The information provided when Adam submitted the application was exemplary. He articulated his plan with excellent material, which made it significantly easier for us to assess and process the loan request.
- Paul Wainwright Head of Debt Funds, Finance Yorkshire
Transforming business operations
The funding allowed Reel Film to launch a new content creation service, which transformed their ability to meet client demands quickly and efficiently. Since receiving the Growth Guarantee Scheme loan, Reel Film has achieved an impressive 97% client retention rate, demonstrating the positive impact of the funding on their business model. The additional resources have enabled them to enhance their offerings and create jobs, thereby contributing to the local economy.
The Growth Guarantee Scheme loan has helped us develop a robust sales and marketing machine, ensuring we have leads coming in consistently. Don’t be afraid of the loan process; it can accelerate your journey from A to B. Before, I viewed loans negatively, but now I see they empower growth. Without the GGS loan, we would have fallen behind our competitors.
- Adam Chandler Founder, Reel Film
Driving success in the creative sector
Reel Film’s journey highlights the significant role financing plays in enabling innovative businesses to overcome challenges and unlock growth. The Growth Guarantee Scheme has proven to be a vital tool, empowering companies like Reel Film to meet evolving market demands and expand their operations.
In the context of the UK's thriving creative industries, which make a substantial contribution to the economy, funding like this is crucial for small businesses to remain agile and competitive. With the right financial support, businesses can not only survive but thrive, as demonstrated by Reel Film’s impressive client retention and market expansion. This success not only drives individual business growth but also strengthens the wider creative economy, fostering innovation, creating new jobs, and reinforces the UK’s leadership in the creative sector.
Reel Film’s success story exemplifies how the right funding, at the right time, can transform a business’s trajectory. By embracing the Growth Guarantee Scheme, Reel Film was able to accelerate its growth and strengthen its market position, ensuring the company remains competitive in an ever evolving and significant industry.
- Sean Hutchinson British Business Bank
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