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Factoring helping green company expand further into Scotland

Category: Scottish Investment — Mark on June 24, 2013

An English company which is helping many Scottish companies become greener in their approach to waste disposal is to expand its operations, having secured a new funding facility.

BIDBI, a manufacturer of waste bags which are designed to be kinder to the environment, has grown rapidly over recent times, thanks largely to a new invoice factoring facility.

The firm, which was originally called Bag It Don’t Bin It, is based in Sheffield. However, as well as the company having operations in Scotland, many Scottish companies are also seeing the benefits of factoring and invoice discounting for themselves.

Talking about how the support has helped her business, BIDBI’s entrepreneurial founder, Julia Gash, said:

“Like many young, growing SMEs in Britain, we have always struggled to get sufficient funding from the bank to support our fast growth and this fact alone has prevented us from fulfilling our potential.”

Gash went on to say that after months of work, she finally managed to secure a new package of financial products, which included factoring, to help with the growth.

As well as boosting sales at home in all parts of the UK, BIDBI has used much of the cash raised to push its international sales. It has also installed new printing equipment at its Sheffield production facility.

As well as speeding up the whole production process, the new equipment gives the company a far greater variety of products, which are increasingly sought in Scotland and throughout Britain.

New roles are also being created, which could potentially include further jobs for Scotland in the future.

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

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