£20,000 Bridging the Gap Recipient - September 2013
Hampshire-based Fedden USP provides consultancy services to businesses helping to increase their bottom line profits by showing them how to improve productivity, service levels and levels of innovation within their range of products. The organisation uses a combination of process improvement techniques such as ‘Lean’ from the Japanese automotive industry, combined with innovative thinking techniques from the UK’s design sector.
The company requested funding to support the planned growth of the business.
Neil Fedden, Managing Director of Fedden USP, said:
“Bridging the Gap funding has been of enormous benefit to our business. Even the application process was quite thought-provoking and enabled me to update our business plans and rethink the direction we were taking. The funding gave us the confidence to recruit full-time employees for the first time and we spent over £20,000 in additional marketing and PR which resulted in the business doubling in size from sales of £440K p.a. to a projected figure of over £800K p.a. in the space of a year! We also invested in new product development and last year, launched a new product 6 Sigma which has added additional revenue streams to our business, whilst we continue to develop our existing products. We are now at the stage of considering the recruitment of additional resources to deliver the new business that we have won as a direct result of the funding. We are very confident of our continued and sustained growth in the future.”