September 23rd, 2016

New investment a sign of increasing business confidence

Updated: 10:14 am, May 07, 2015

THE DIRECTOR of a business boosted by a £50,000 cash injection has said the funds will help take them to the ‘next level’.

JSC Rotational Ltd, based on Bouts Lane in Inkberrow, received the support from Clydesdale Bank’s business and private banking centre as well as from the Greater Birmingham and Solihull Local Enterprise Partnership.

The company, which produces hollow plastic products, used the money to bring in a new CNC robotic arm to automate part of the finishing process.

Director Karen Drinkwater, who has run the site with her husband Mark since 2003, said: “The installation of the robotic arm will move our business to the next level, helping us target new markets and projects.

“I believe the growth of our business has been supported by the fact we are a family business. We share the same ambitions and understand one another very well. Many husbands and wives wouldn’t dream of living and working together, but it works perfectly for us.”

The investment is being hailed as another sign of increasing confidence amongst businesses within the borough and surrounding area.

Between January and September last year there 365 new companies created in Redditch. Although there were also 263 closures during the same period, there were still more than 100 additional firms founded during the first nine months of 2014.

There was more good news on the jobs front as well as the number of people claiming jobseekers’ allowance in December in Redditch fell to a new record low of 812, down by 58 on the previous month, although the impact of Christmas and seasonal work will have played a part in the low figures.

The number of young people out of work has dropped from 610 to 160 between May 2010 and last December while the number of over 50s claiming the benefit for more than six months has halved during the same period from 200 to 100, a fact welcomed by Redditch MP Karen Lumley.

“We must work harder to increase the number of over-50s in work, challenging stereotypes and breaking down barriers and prejudice in the workplace but these figures show that progress is being made.”