For Chalk Hill, a start-up accountancy firm in Shepway, making
savings holds the key to business growth.
With its £30,000 business loan from Expansion East Kent, Chalk
Hill is supporting local small businesses to scale and grow. “We
have mainly been saving tax for companies, one client in particular
has been able to recruit a new employee through the tax savings
made”, Thomas says.
“Expansion East Kent gave us an opportunity to start a business
when we were struggling to get funding from the banks."
He aims to use the loan to secure premises and purchase IT
equipment and accountancy all of which Thomas say’s he would never
have been able to afford without the support of the loan.
For Chalk Hill the loan could not have come at a better time.
“It gave us an opportunity to start a business in a time when we
were struggling to secure funding from the banks. We hope that it
has enabled us to offer an affordable and outstanding service to
the local community.”
The 0% interest rate allows small businesses to have “breathing
space” says Thomas, who previously looked into securing commercial
funding but found the repayment terms and interest rates made it a
“completely inaccessible” option for a start-up.
“East Kent is so close to London that we are able to
tap into new business from the capital"
The Expansion East Kent funding is allowing Chalk Hill to grow to
the point where Thomas has not only safeguarded his own future, but
now has plans to recruit an additional member of staff.
In future, Thomas hopes to create up to 15 new jobs, and boost
East Kent’s not-for-profit sector by helping local charities with
East Kent is the key to unlocking profit, Thomas says, “because
we are so close to London we are able to tap into business from the
capital. We are able to cut out overheads down dramatically by
running our business in East Kent. Having previously worked in
London it is great to be able to offer the same quality service but
at a lower price.”