Welcome > Case Studies > Start & Grow > Digital acquisition brings Bow House under new ownership
116 Long Street, Easingwold
Digital acquisition brings Bow House under new ownership
Here are three people who have great skills and knowledge and who I’m confident have identified opportunities to build the business, with our support. Mike Everitt, Business Adviser, Business Support York and North Yorkshire
For new business owners, it’s not always an idea that leads to the start of a new business – but an opportunity.
Work colleagues Richard Fox, Alan Pratt and Anthony Mitchell had the opportunity to acquire the digital design and media business they worked for in early 2016. With key skills in digital design and marketing delivery, they knew that they could take the business on and deliver an excellent service to clients –
but having never run a business before, expert help to guide them through the acquisition and support in building a future business strategy was essential. The trio turned to leading business development specialists Business Support York & North Yorkshire (BSYNY) for help.
The purchase of the company was possible with a self-funded investment of £24k. Whilst access to finance was not necessary through the programme, benefitting from wider expert help during the business take over was key.
The access to quality business support and a responsive business adviser was hugely valuable to the new business owners, with them describing the support as invaluable. Support covered a range of business topics from legal, finance, employees and business development. Over 40 hours of support was provided by BSYNY over a nine month period.
With five full time staff and one part time member of the team too, Bow House Digital Ltd are well set for increased growth – which is very much on the agenda. The Directors plan to develop the business with a range of other products and services – and Business Support York & North Yorkshire will continue to support the business growth over the next 3 years.
Richard, Alan, and Anthony are clients of Business Support York and North Yorkshire on behalf of National Enterprise Network delivering business support in North Yorkshire and Humber.
Under the Start & grow programme Richard, Alan, and Anthony have received 42.5 hours of support. They have made personal investments into the business and have created 6 jobs.