A five-figure loan from alternative lending provider Finance For Enterprise is helping a specialist telecoms company to prepare South Yorkshire businesses for the next Industrial revolution with the roll out of full fibre broadband across South Yorkshire.
Doncaster-based KAT Communications equips businesses in South Yorkshire with more than half a million call minutes every month. For the past three years the telecoms specialist has enjoyed consecutive year on year growth and after spotting what he felt was a ‘golden opportunity’ to grow his successful business further, managing director Anthony Temperton turned to the Doncaster-based alternative lending provider for help.
Greater access to high speed broadband connections, as a result of investment in the region’s telecoms infrastructure by Openreach and other network providers is helping to create a new ‘industrial revolution’. Anthony recognised the improved connectivity could provide a stable and improved platform to help SME business owners harness new technology to help fuel growth, due to the improved broadband speeds available.
The loan will be used to create two new jobs in the family-run business, as well as providing funds to invest in new services currently being developed by the telecoms specialist.
KAT communications acts as a one-stop shop which helps SME business owners to navigate their way through the complex telecoms market. The company provides a range of services including phone systems, lines & calls, mobile voice & data, and IT support. However unlike traditional providers they lead with a customer first, technology second approach and show how telecoms solutions can help a business with their business plans such as how taking advantage of cloud-based technology can help fuel future growth.
Today, 89% of KAT Communications’ growing client base use more than one service offered by the business and after realising more areas of the region were able to access the high speed full fibre broadband connections, Anthony realised he needed to act quickly to take full advantage of the opportunity to grow his business, but with limited funds, he realised additional financial help would be needed to realise his ambitions.
Launched in 2009, Anthony felt many owner-managed businesses were unable to access the right support to meet their needs and realised many were often left to the mercy of large telecoms who often sold products and services that did not suit their needs. To date, the business has been entirely self-funded, but working with an experienced investment manager at Finance For Enterprise, a business loan was secured, enabling KAT Communications to mark its tenth anniversary with plans to grow and expand the business.
Anthony Temperton, Managing Director, KAT Communications said:
“The speeds and stability of broadband available to SME businesses throughout the region have increased significantly in recent years. I realised that whilst many businesses could access high speed connections, many company owners were unsure how the improved broadband speeds could help their business.
“Drawing on my own industry experiences I felt many of the larger telecoms providers aren’t used to dealing with smaller businesses, leaving them to struggle with pushy sales people and ineffective support usually delivered through call centres. As a result SMEs typically find themselves being tied into lengthy and often impractical telecoms deals which don’t reflect the needs of the business.
“I felt it presented a golden opportunity for our business, but recognised that we needed to secure additional financial backing. As a family-run business, we’ve been through the same growing pains that many of our clients have experienced and called upon Finance For Enterprise for help. The support we have received has given us the security and confidence to progress our growth plans, resulting in new jobs being created within the business, as well as enabling us to develop new products and services aimed at supporting local business owners.”
Alan Scott, senior investment manager at Finance For Enterprise, said:
“Anthony and his team at KAT Communications were quick to spot a new opportunity in the marketplace and called upon our help. The telecoms market is a notoriously competitive and cutthroat industry, but impressive growth the company has enjoyed in recent years illustrates how greater access to superfast and ultrafast broadband internet connections is helping many business owners to access new technology, resulting in them being able to harness new opportunities and business growth.”
“Like many business owners, Anthony was unable to access borrowing through traditional high street lenders. We were able to step in to provide the vital funds needed enable the company to continue to invest in its workforce, resulting in continued business growth, as well as creating new jobs within the local economy.”