Member Article

£30k loan supports growth of East Yorkshire marquee business

East Yorkshire’s Pinnacle Marquees has been supported by a £30k Finance Yorkshire business loan to plan ahead for future jobs and investment.

The firm was established five years ago and supplies its marquees and other structures for corporate, education and some large private events across the UK.

Based at Market Weighton Business Centre, East Yorkshire, Pinnacle was launched by managing director Tim Betteridge after a career in venue and event management. Regional clients include Harewood House, Leeds, and Ripley Castle in North Yorkshire.

A £30k Business Loan from Finance Yorkshire is enabling Pinnacle to expand its stock of marquees and structures and to assist with funding for a new lorry.

Tim said: “We’ve grown every year as a business and have got to the point where we want to push on and invest further in the company.

“The capital funding from Finance Yorkshire will enable us to buy more equipment to satisfy the sales that are coming through and rather than hire vehicles, we will be able to buy one of our own.”

“We’re potentially looking at taking on more permanent staff as we grow over the next three to five years.

“We get a lot of annual repeat business which gives us the sales foundations on which to build year on year.”

Tim and three colleagues run the Pinnacle business, supported by seasonal workers during the busy summer period.

Finance Yorkshire investment manager Ian Atkinson said: “Pinnacle has established itself as a strong brand in the event marquee hire sector and is now well placed to take advantage of new opportunities to grow the company and increase employment.”

To date, Finance Yorkshire has made 644 investments totalling over £80 million.

This was posted in Bdaily's Members' News section by Clare Burnett .