An internet marketing and graphic design company is planning to more than double its turnover following investment from Finance Yorkshire.
The £50,000 Business Loan from Finance Yorkshire will enable Ludo Studio to invest in business development, marketing material and telemarketing as it looks to gain new customers and accelerate growth.
Turnover currently stands at around £1 million but the company is aiming to hit £2.5 million within five years and double the size of its team.
Managing director Chris Middleton said: “We used to be a marketing company that did all things for all people until we realised that we had specialist skills and a customer database that was skewed towards shopping centres and legal clients. This led us to create two new brands and we structured our team internally to develop these markets further. The investment from Finance Yorkshire will enable us to reach the next stage in our development.”
Kishor Tailor, chief executive of Humber Local Enterprise Partnership, said: “The Humber is going through a renaissance, with digital technologies having a strong focus across our region. It is great to see that small businesses in the digital economy are growing and thriving.
“The importance of online platforms to maximise brands is paramount to business growth and success, with the digital sector constantly changing, as new technologies are created, we need a workforce of creative, forward thinkers, ensuring the Humber stays strong in digital technologies. It is great to see four new jobs being created in this sector, and we wish Ludo Studio success with this business growth project.”
Ludo Studio was established in 2007 and employs 15 people. The company operates the Retail Centred and Optimised Law brands.