With demand increasing fast for its innovative anti-slip coating, a young Tees-based company was determined not to let the difficulties caused by the coronavirus affect its growth or the opportunity to diversify.
Ankor Products in Stockton turned to UKSE and the government’s Coronavirus Business Interruption Scheme (CBILS) to ensure it could stay on track for a projected turnover of £1.3m.
Set up in 2018 to manufacture the new anti-slip coating it had developed for bathtubs and shower tray floors, the company saw demand grow quickly before identifying a second area of business potential.
"Demand for our coating was growing well when it became obvious that customers in this sector were having problems with the removal of waste products and concrete. Thanks to the CBILS loan from UKSE we are still growing strongly and have also been able to diversify into recycling and renewable energy, despite the difficult times. We are confident that there is significant growth to come for both sides of the business."Karen Bainbridge-Jones, MD
How we helped.
The provision of a CBILS loan at a crucial stage ensured that Ankor Products was able to ride the impact of coronavirus and maintain its impressive growth whilst also grasping a second business opportunity.
Continuing the rapid expansion of the business.
Successfully diversified into recycling and renewable energy.
Plans to more than double its five-strong team.