Samantha Langtree established Rise & Recline in 2001 along with fellow director Nigel Morley. Both had previously been working in the furniture industry and spotted an opportunity to develop adjustable chairs for people with mobility issues that could ‘rise and recline’.
The business, which originally employed just three people, was first housed in just one small unit. However, over the years, the product range expanded to include adjustable beds and settees and today the company is based in three units, employing a total of 26 people and turning over in excess of £3m.
Emda awarded the £90,000 grant to Rise & Recline to enable it to purchase and fit out its new 744m2 premises on Manor House Road, Long Eaton.
The Selective Finance for Investment in England (SFIE) grant, which Rise & Recline received is a discretionary scheme delivered by the Regional Development Agencies, on behalf of the Department for Enterprise, Business and Regulatory Reform (formerly the Department of Trade and Industry). It is aimed at businesses that need financial help to invest in land and buildings or plant and machinery in order to expand and modernise.
Rise & Recline is one of 50 businesses that have been supported by emda since the SFIE grant was extended to cover the whole of the East Midlands in March 2007. Emda has awarded some £6.6m of SFIE grants, which will support these businesses to invest a total of £60m.
The SFIE scheme criteria are straightforward and relate to location, need, the size and type of the business, the nature and size of the investment, viability, and the quality of the project.
To find out if your business is eligible to apply, visit www.emda.org.uk/sfi for full details and to download an initial application form.