Paper Innovation, a Preston-based manufacturer of paper products, is set to expand into new markets and launch its first online store after increasing its turnover by 15 per cent over the past three years.
Founded by husband and wife team Steve and Wendy Johnston in 1994, the company creates bespoke and personalised paper products for companies across the UK.
The company will be launching an online platform to expand its customer base both at home and overseas, with support from Lloyds Bank Commercial Banking which has supplied a £710,000 funding package.
The move will create four new jobs, and is expected to boost the company’s turnover by a further 25 per cent over the next two years.
Steve Johnston, director of Paper Innovation, said: “To stay competitive within our sector it is vital that we remain innovative, and we are constantly looking for new ways to expand our customer base and improve the services on offer to clients. The new online site will enable us to increase our presence in new markets, and we will be looking to expand our customer base across the corporate and hospitality sector over the next 12 months”
Lloyds Bank Commercial Banking provided the funding package after the business was introduced to the team by Johnny Abraham at J9 Advisory, Paper Innovation’s business finance advisor.
Steve added: “We switched our day-to-day banking relationship late last year, after looking for a banking partner which shared our enthusiasm for growth.”
Charlotte Jackson, regional manager for Lloyds Bank Commercial Finance, worked with relationship manager, Richard Hargreaves, to provide the support.