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Business Enterprise Fund

BEF funding provides bright outlook for North East coast

04 December 2017 14:15

FOR IMMEDIATE RELEASE

A rainbow of colour is being added to the picturesque North East coastline at Saltburn-by-the-Sea.

Local businessman Stuart Marshall has designed and began installation of a row of beach huts on the Victorian town’s seafront, with plans to reach a total of 45 in time for summer 2018.

The £600,000 project, which began in July 2017, was assisted with a Start Up Loan delivered by Business Enterprise Fund (BEF), and has already proved a hit, both locally and from people around the world.

“I run a roofing business, and from travelling around the country I’ve always appreciated beach huts in seaside towns – but thought they could be better.” Said Stuart.

“Saltburn used to have a row of beach chalets, which were operational in the 1950’s but since their demise there has been a gap. Now there’re 12 built, I’ve had offers for purchase from visitors as far as Australia!”

To their disappointment, Marshall’s Beach Huts are not for sale. Locals and visitors can rent by the day all year round, including in the colder months, where there has been a surprising uptake.

“We’ve had people booking them out for BBQ’s on the beach on Christmas Day!” said Stuart.

The project has been part-funded from Stuart’s existing business, with employees bringing his designs to life.

“They have a very sturdy design to withstand the stormy coastal conditions.” said Stuart.

Inside, the huts are fitted with electricity, tea, coffee and deckchairs, and have hosted a number of parties already. They are also easily accessible for the elderly and disabled.

“We wanted to provide something that everyone can use. Looking ahead we want to host school trips, bonfire nights and have a Santa’s grotto over Christmas.” Explained Carol, Stuart’s sister, who is also involved in the venture.

So far three jobs have been created to help manage the leisure huts, with further jobs in maintenance scheduled for the busier months ahead.

“It’s great to be funding small businesses with big ideas.” said Simon Jackson, Head of Investment at BEF.
“We’re committed to funding businesses in the Tees Valley region and Stuart’s innovation has really added value to Saltburn. He’s seen a gap in the market and I expect more coastal towns will want to follow suit.”

“It’s been great to have such fantastic feedback, particularly from Redcar and Cleveland Council.” said Stuart. “Looking ahead we have plans to fulfil orders for similar projects in Hartlepool and Seaton Crewe.”

“I’m very grateful for the help BEF have given. We’re really looking forward to seeing this bring enjoyment and add value to the local community.”

~ENDS~

Notes to editors:
About the Business Enterprise Fund
The Business Enterprise Fund (BEF) provides loans from £500 to £150,000 to businesses, helping them thrive and grow. Lending to businesses of all ages and across all sectors BEF has lent over £30 million, helping save or create over 2000 jobs.

BEF is a Delivery Partner for the Government’s Start Up Loans Programme which supports emerging and young businesses with finance and support. BEF alongside FFE deliver the Northern Powerhouse Investment Fund’s Microfinance Loans across Yorkshire, Humber and the Tees Valley, a fund delivered by the British Business Bank.

As a social enterprise and a Responsible Finance Provider, BEF’s profits are reinvested into the loan fund and granted to organisations that encourage and build enterprise. Over the last 5 years BEF’s lending has added nearly £90 million of value to the economy.

Bradford: Devere House, Little Germany, Bradford, BD1 5AH
Leeds: 5th Floor Carlton Towers, 34 St Pauls Street, Leeds, LS1 2QB
York: Blake House, Blake Street, York, YO1 8QH
Tees Valley: Belasis Hall Technology Park, Coxwold Way, Billingham, Stockton-on-Tees, TS23 4EA
Goole: Goole Development Trust, 57 Carlisle Street, Goole, DN14 5DS

www.befund.org
Fergus Mckie, Marketing Co-ordinator: Fergus.mckie@befund.org 07827 318692


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Press Contacts

Fergus Mckie

Marketing Co-ordinator

Tel: 07827 318692

Email: fergus.mckie@befund.org


About Business Enterprise Fund

The Business Enterprise Fund is a social enterprise that lends money to businesses in West & North Yorkshire & the North East, who are unable to get lending from the banks. As a social enterprise there are no share holders – all profits generated are reinvested into the business.

www.befund.org

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