Scottish entrepreneur secures mobility business
Scottish entrepreneur Liz Watson has purchased her first business in East Kilbride using a six-figure funding package from HSBC UK.
Liz established a new company, Redloan Holdings, to purchase The Mobility Centre from original owners Susan and Stephen Laughlin, who have now retired. The business sells mobility products and living aids, such as wheelchairs, reclining chairs and scooters, from its store in East Kilbride. All three existing staff have been retained.
Liz now plans to develop The Mobility Centre’s online sales, following a wider review of the business’ products, branding, website and advertising.
Liz Watson, owner of The Mobility Centre, said: “I’m thrilled to take ownership of The Mobility Centre and am very grateful to HSBC UK for the financial support that enabled me to purchase the business. I’m looking forward to continuing to provide the fantastic service and range of products in our East Kilbride store, and establishing online sales going forward.”
With a background in engineering, Liz Watson studied Entrepreneurship at Babson College in Boston, Massachusetts, USA, from 2013-2014 through the Entrepreneurial Scotland Saltire Fellowship.
Susan Rowand, Head of Business Banking in Scotland, HSBC UK, said: “Liz is an experienced business consultant with ambitious plans for The Mobility Centre. Her strategy is set to boost in-store and online sales of products which play an important role in improving people’s lives locally.
“Women-owned businesses make an important contribution to the Scottish economy and we’re keen to provide support to female entrepreneurs in Scotland to help them reach their ambitions.”
The latest research from the Federation of Small Businesses (FSB) found that women-owned businesses contribute £8.8bn Gross Value Add (GVA) to the Scottish economy and supply 231,390 jobs.
The Mobility Centre serves the local and surrounding areas, with customers from the West Coast, Glasgow, East Renfrewshire and North Lanarkshire.
Redloan Holdings was advised by Innes Laing, Franchise Relationship Manager at HSBC UK. The funding was allocated from HSBC UK’s national SME Fund, which aims to actively help UK businesses realise their ambitions for growth and navigate Brexit. The new £14bn SME Fund has recently been announced by HSBC UK, with £650m committed to supporting SMEs in Scotland.
If you’re a small or medium-sized business based in Scotland, you can also access a newly launched loan capital fund which is part of the Scottish Growth Scheme.
The £12m fund, part-funded by the EU, helps accelerate the growth of businesses in Scotland, complementing other private and public sector forms of funding.
For more info and to submit your interest visit www.weareumifinance.scot.