Great Annual Savings generates rapid business growth
Seaham based business cost reduction consultancy Great Annual Savings Group (GAS) has been growing rapidly in recent years and is now one of the largest employers in County Durham.
Since moving onto Spectrum Business Park, GAS has continuously added to its headcount which resulted in it reaching full capacity within in its existing premises at Spectrum 6.
The company identified a larger space on the park, the unoccupied Spectrum 7, which would enable the management team to push forward with ambitious growth plans, including the creation of 300 new jobs, doubling its existing headcount.
The GAS team approached County Durham Growth Fund with its plans and was successful in securing funding to support the move.
Bradley Groves, Managing Director of GAS, said: “From our opening in 2012, our growth has been rapid and Seaham has proved to be the perfect location for us.
“As we reached full capacity within our current building, we were keen to remain on Spectrum Business Park and having spoken to developer Paul Wellstead, we identified Spectrum 7 as being the right size to house our ever-expanding team and allow the additional floor space to accommodate future growth.
“We are now looking forward to completing work on our new headquarters, which is shaping up to become one of the finest office facilities outside of London and Manchester.
“The team at the County Durham Growth Fund have been incredibly helpful and with their support, our move and plans to create 300 new jobs are now in the process of being realised.”
The County Durham Growth Fund is managed by UMi on behalf of Business Durham with funding from the European Regional Development Fund (ERDF). All successful grants applications are appraised by UNW LLP, an independent firm of chartered accountants and business advisers.
Recently the fund was boosted by an additional £4m which is allowing it to support even more companies in County Durham.
Interim Managing Director of Business Durham, Sarah Slaven, said: “Great Annual Savings Group is one of County Durham’s most successful employers and I’m delighted that the County Durham Growth Fund is able to support the company with its next phase of growth and job creation.”
Simon Allen, Investment Centre Director at UMi, said: “The County Durham Growth Fund was created to support the area’s flagship employers, those small and medium enterprises, which underpin our economy, and I’m delighted that Great Annual Savings Group has been another recipient of support, enabling it to move to bigger premises and create a substantial number of jobs for the area.”
John Healey, Corporate Finance Partner at UNW LLP said: “It is always encouraging to see businesses within County Durham investing in the future through both growth and job creation. Great Annual Savings Group’s growth project demonstrates a level of commitment that the County Durham Growth Fund was designed to help.”