Johnson Reed http://www.johnsonreed.co.uk Fri, 31 Jul 2015 15:11:07 +0000 en-US hourly 1 SMEs, finance is nothing to fearhttp://www.johnsonreed.co.uk/finance-news/smes-finance-is-nothing-to-fear http://www.johnsonreed.co.uk/finance-news/smes-finance-is-nothing-to-fear#comments Fri, 31 Jul 2015 09:19:25 +0000 http://www.johnsonreed.co.uk/?p=5013 Without a doubt, the catering equipment market is booming. With an expected turnover of £1.1 billion this year, the upsurge in new equipment has fuelled growth in both suppliers and manufacturers alike, and the marketplace shows no sign of slowing. However despite this growth, businesses are facing ever-increasing challenges to meet the financial demands of buying new equipment, with many failing to afford to do so. Despite the advantages that new equipment can bring - such as higher quality food, lower waiting times, increased capacity, and ultimately a higher return - it's often difficult to afford such a huge outlay when the average kitchen can range from £1,000 up to £250,000.

Educating businesses and SMEs in alternative ways of financing can be difficult. For many people, the mindset of getting finance is either a negative one - inevitably it will lead them into debt which they cannot afford - or that bank lending is the only option. Neither of these are true, and equipment financing is often a much better alternative to bank lending for its flexibility, amounts available, and repayment schedule.Read More

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jarmoluk / Pixabay

Without a doubt, the catering equipment market is booming. With an expected turnover of £1.1 billion this year, the upsurge in new equipment has fuelled growth in both suppliers and manufacturers alike, and the marketplace shows no sign of slowing. However despite this growth, businesses are facing ever-increasing challenges to meet the financial demands of buying new equipment, with many failing to afford to do so. Despite the advantages that new equipment can bring – such as higher quality food, lower waiting times, increased capacity, and ultimately a higher return – it’s often difficult to afford such a huge outlay when the average kitchen can range from £1,000 up to £250,000.

Educating businesses and SMEs in alternative ways of financing can be difficult. For many people, the mindset of getting finance is either a negative one – inevitably it will lead them into debt which they cannot afford – or that bank lending is the only option. Neither of these are true, and equipment financing is often a much better alternative to bank lending for its flexibility, amounts available, and repayment schedule.

If there is any doubt, some statistics should help convince. Since 2009, asset finance has grown by nearly 22%, up to £25.4 billion, which represents 27.9% of the UK investment in machinery, equipment and purchased software. There are currently an estimated 2 million outstanding asset finance contracts in the UK, with an average of 2,500 signed every day. 60% of those figures are signed with SMEs, although even the biggest companies in the world use asset finance.

Since our inception, we have worked very closely with catering equipment suppliers and hospitality businesses across the UK. We can help get finance for almost any kind of tangible or intangible business requirement, and have helped finance anything from a single coffee machine to a quarter-million pound kitchen refurbishment. Our finance deals are usually fixed-term – anywhere between 1-5 years – and fixed cost, so businesses know exactly what to expect.

With many high street banks unwilling to invest in what they see as risky investments, we are more than happy to take on finance deals for catering equipment, with our acceptance rate standing at 92%. One example of this was our deal with a catering equipment supplier and their care home operator client, who needed purpose-built catering facilities. Rather than only getting what they could afford (a common trait amongst SMEs unfamiliar with finance), they decided to come to Johnson Reed to help provide finance for the entire kitchen.

Leasing is a vital tool for growing businesses in the SME market, especially those in the care sector where the demands on capital expenditure are so high. Many overlook the tax benefits and added value this simple to arrange credit facility can bring their business.
Dave Foran FD, New Care Projects / The Grand Care Centre; West Bridgford

If you’re an SME looking to get new equipment, please call us and we can explain in more detail how asset finance can be suitable for your business. Likewise if you’re an equipment supplier looking to supply your clients, we can offer some truly excellent advantages.

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Budget 2015: Our Verdicthttp://www.johnsonreed.co.uk/finance-news/budget-2015-our-verdict http://www.johnsonreed.co.uk/finance-news/budget-2015-our-verdict#comments Tue, 14 Jul 2015 08:49:37 +0000 http://www.johnsonreed.co.uk/?p=5003 On the 8th July, Chancellor George Osborne gave his 7th budget, and his first as part of the majority Conservative government.

In this budget we saw a large number of shakeups, not least in the economy and business portions, as well as in personal tax & pay, and the ongoing battle with our national deficit.Read More

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Stevebidmead / Pixabay

On the 8th July, Chancellor George Osborne gave his 7th budget, and his first as part of the majority Conservative government.

In this budget we saw a large number of shakeups, not least in the economy and business portions, as well as in personal tax & pay, and the ongoing battle with our national deficit.

In our analysis we’re going to summarise the key points from the areas listed above, although if you’re looking for a more detailed breakdown, the BBC have done an excellent analysis.

Economy & Deficit

Firstly the overall good news for everyone, the Government’s figures showed the UK economy grew by 3% in 2014, with a 2.4% growth forecast for this year (although that is still 0.1% lower than was predicted in March).

Ongoing forecasts predict an increase of 2.3%, 2.4%, and 2.4% again in 2016, 2017, and 2018.

The Chancellor has promised to cut the deficit at the same pace as last session of Parliament, which is expected to help the country reach a budget surplus in 2019-20, a year later than expected.

Despite that, borrowing is expected to reach £43.1bn (down from £69.5bn currently), and reach £24.3bn and £6.4bn in the following years, before reaching the promised surplus around 2019-20 of £10bn.

Business

There was a lot of news for business owners in this budget, most of it positive, some of it clamping down on what the Government – and public – see as business excess or people taking advantage.

Falling into the former half:

  • The corporation tax rate is to be cut by 2017 to 19%, and another 1% drop by 2020
  • £7.2 billion is to be sought by clamping down on those who participate in tax avoidance, and to quieten claims of HMRC under-funding, their budget is due to be raised by £750m
  • The allowance for National Insurance will be increased by 50% up to £3,000 from 2016 onwards for small firms
  • The annual investment allowance is to be set at £200,000 from January 2016, indefinitely
  • There will be a levy on new apprenticeships for large employers
  • Consultations are due to take place to decide the fate of Sunday trading laws
  • The dividend tax credit is going to be replaced with a new tax-free allowance (£5,000) on dividend income.

Falling under the category of the Government reigning in business:

  • Permanent non-domicile (“non-dom”) status is going to be scrapped. The new rules say that from April 2017, anyone living in the UK for over 15 years in the past 20 years will pay the same tax as current UK citizens. It is expected this alone will bring in £1.5bn.
  • There is to be a cap on charges imposed by claims management companies, coupled with an increase in insurance premium tax to 9.5%
  • The climate change levy exemption for renewable electricity is going to be scrapped
  • The bank levy rate is going to get reduced over the coming 6 years, coupled with an 8% surcharge on profits banks make from 2016 onwards

Personal Tax and Pay

  • Much appreciated by many young people, we are sure, the national living wage for people over 25 is to be increased to £7.20 per hour, and is expected to be £9 per hour by 2020
  • The tax on inheritance threshold is set to rise to £1 million
  • The 40 pence income tax rate is going to rise to £43,000 in 2016
  • By next year, the personal allowance is going to raise to £11,000, reaching £12,500 by 2020

What do you think about the changes proposed in this budget? Leave your feedback in the comments below!

 

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Leaseurope survey reveals growth in Q1 of 2015http://www.johnsonreed.co.uk/finance-news/leaseurope-survey-reveals-growth-in-q1-of-2015 http://www.johnsonreed.co.uk/finance-news/leaseurope-survey-reveals-growth-in-q1-of-2015#comments Tue, 07 Jul 2015 12:39:57 +0000 http://www.johnsonreed.co.uk/?p=4996 Leasurope, the European Federation of Leasing Company Associations, is an association in the leasing and finance sector with 45 members across 33 countries. Each quarter of each year they produce their Leaseurope Index report, which surveys 17 volunteer members to analyse and track the leasing industry.

Recently they released their survey results for the first quarter (Q1) of 2015, and the results are very positive, with some figures being the highest ever recorded! All figures show substantial improvement on Q1 of 2014. Read More

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leaseurope-reportLeasurope, the European Federation of Leasing Company Associations, is an association in the leasing and finance sector with 45 members across 33 countries. Each quarter of each year they produce their Leaseurope Index report, which surveys 17 volunteer members to analyse and track the leasing industry.

Recently they released their survey results for the first quarter (Q1) of 2015, and the results are very positive, with some figures being the highest ever recorded! All figures show substantial improvement on Q1 of 2014.

The total new leasing increased by 6.4% in 2015, compared to the same quarter in 2014. By comparison, that is just under £11.9 billion compared to £11.7 billion in 2014.

The pre-tax profit reported during the same time frame has also increased by a great 36.3%, which in real terms is £601 million compared to £465 million.

You can view the whole Leaseurope report here. It is eagerly anticipated to see whether the positive trend continued into the 2nd quarter.

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Good luck to Peter and Matt on their fundraising!http://www.johnsonreed.co.uk/exhibitions-and-events/good-luck-to-peter-and-matt-on-their-fundraising http://www.johnsonreed.co.uk/exhibitions-and-events/good-luck-to-peter-and-matt-on-their-fundraising#comments Tue, 07 Jul 2015 10:14:54 +0000 http://www.johnsonreed.co.uk/?p=4991 It's not often we mention friends of ours who do fundraising, so when Peter Kitchin from C&C Catering Equipment Ltd got in touch and told us about his latest challenge, we knew we had to shout about it and get some support behind him.

Peter and Matt Kitchin will be taking on one of the biggest physical challenges you can in this country - climbing the 1,085 metre tall Mount Snowdon, in Wales to raise funds for their local village church, St. Albans. Read More

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peter-matt-fundraisingIt’s not often we mention friends of ours who do fundraising, so when Peter Kitchin from C&C Catering Equipment Ltd got in touch and told us about his latest challenge, we knew we had to shout about it and get some support behind him.

Peter and Matt Kitchin will be taking on one of the biggest physical challenges you can in this country – climbing the 1,085 metre tall Mount Snowdon, in Wales to raise funds for their local village church, St. Albans.

Peter, who is 52 and self-proclaimed “not fit at all” will be accompanied by Matt, who is 23 and will be tackling his first mountain in this challenge!

The hike will take place on the 10th July, so still time to get some donations! You can donate directly to their JustGiving page here, and know that C&C Catering Equipment will double all donations received! Also if you are a UK taxpayer, then Gift Aid will automatically be added to your donation.

We can’t all climb mountains, but we can support those who do!

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Just a splash in the ocean for Harbour View Fisherieshttp://www.johnsonreed.co.uk/fish-and-chip-shops-finance/just-a-splash-in-the-ocean-for-harbour-view-fisheries http://www.johnsonreed.co.uk/fish-and-chip-shops-finance/just-a-splash-in-the-ocean-for-harbour-view-fisheries#comments Tue, 07 Jul 2015 10:02:59 +0000 http://www.johnsonreed.co.uk/?p=4986 Overlooking Collywell Bay, in the little town of Seaton Sluice (just outside Newcastle, for the uninitiated), there is a lovely restaurant called Harbour View Fisheries.

Owned by husband and wife duo Lakhver and Harjit Gill, the restaurant has been established for over 13 years, although the couple have had over 30 years experience in the trade. The restaurant itself seats 48 inside, with plenty of outdoor seats, and caters for takeaways also. And in case dinner leaves you still a little hungry, there is an ice cream parlour nextdoor also owned by Lakhver.Read More

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harbour-viewOverlooking Collywell Bay, in the little town of Seaton Sluice (just outside Newcastle, for the uninitiated), there is a lovely restaurant called Harbour View Fisheries.

Owned by husband and wife duo Lakhver and Harjit Gill, the restaurant has been established for over 13 years, although the couple have had over 30 years experience in the trade. The restaurant itself seats 48 inside, with plenty of outdoor seats, and caters for takeaways also. And in case dinner leaves you still a little hungry, there is an ice cream parlour nextdoor also owned by Lakhver.

A few months back the Gills realised they needed to upgrade their ageing catering equipment. Popular with locals and tourists alike for their fish and chips, the couple realised that upgrading would mean a quicker turnover for their in-house and takeaway customers.

They chose to upgrade to the OMEGA range of equipment, with high-efficiency 7 pans and 2 chip boxes, all financed through Johnson Reed. The deal we were able to arrange was a simple one, with no deposit and a 5 year term. We were so happy with the opportunity that we decided to finance with our own house funds, rather than sourcing external funds.

Lakhver said about the deal:

With the new efficiencies from the range itself and tax savings the new Omega will nearly pay for itself.” Johnson Reed delivered great service, were simple to deal with, and most importantly delivered a fast turn around and no hassles like the bank often propose.
Lakhver Gill

Mark commented:

It’s a while since I have seen a range that big, we took time to visit the shop so only needed to request basic financial information. I underwrote using common sense and I can clearly see the potential, the credit decision was straight forward once we understood the business.
Mark Johnson, Johnson Reed

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The Ainscow Hotel and Spa gets refreshed with Johnson Reedhttp://www.johnsonreed.co.uk/hospitality-finance/the-ainscow-hotel-and-spa-gets-refreshed-with-johnson-reed http://www.johnsonreed.co.uk/hospitality-finance/the-ainscow-hotel-and-spa-gets-refreshed-with-johnson-reed#comments Sat, 30 May 2015 14:30:58 +0000 http://www.johnsonreed.co.uk/?p=4840 The Ainscow Hotel is a 62-room hotel, restaurant, and spa situated on the border between Salford and Manchester. It is an informal retreat for people wanting to relax whist in the city.

The hotel it is situated in is the historic Browns Brothers building that was original constructed in 1878 as a brewery but has housed many businesses until it fell into disrepair in 1986. The current owners decided to restore this landmark back to its former glory and convert the building into the hotel and spa, naming it The Ainscow after local entrepreneur Carol Ainscow.Read More

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giuseppeblu / Pixabay

The Ainscow Hotel is a 62-room hotel, restaurant, and spa situated on the border between Salford and Manchester. It is an informal retreat for people wanting to relax whist in the city.

The hotel it is situated in is the historic Browns Brothers building that was original constructed in 1878 as a brewery but has housed many businesses until it fell into disrepair in 1986. The current owners decided to restore this landmark back to its former glory and convert the building into the hotel and spa, naming it The Ainscow after local entrepreneur Carol Ainscow.

Having to create the hotel from the ground up they needed acquire all the furnishings, from curtains to carpets, furniture, a complete catering solution and all communication and IT equipment. To quickly get all the equipment they needed without cutting any caution or worrying about their cashflow they decided to contact Johnson Reed to find out what financing deals were available.

We were able to offer them a split deal that covered several lenders into one leasing solution and one point of contact that focused all the costs into a fixed monthly payment. This allowed them to utilize our money so they could focus their working capital on other aspects of their business.

With the hotel now up and running we are happy that to say the hotel and spa is getting rave review in the local press and is becoming one of the go-to retreats in the city. One of the most talked about aspects is the restaurant that focuses on seasonal, local contemporary British cooking that offers their own take on fish pies, Bury black pudding and 21 day aged steak and a roof garden space with panoramic views.

Working with Salford City Council the owners have recruited 75% of their staff from the local community and offer their informal spa to locals who want to get ready and pampered for a night out on the tiles without having to go home beforehand.

If you want to find out more information about the hotel and spa please visit www.theainscow.com or drop in at The Ainscow Hotel, Trinity Way, Salford, M3 5EN.

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Why use Johnson Reed as a finance broker?http://www.johnsonreed.co.uk/tips-and-advice/why-use-johnson-reed-as-a-finance-broker http://www.johnsonreed.co.uk/tips-and-advice/why-use-johnson-reed-as-a-finance-broker#comments Thu, 21 May 2015 14:00:50 +0000 http://www.johnsonreed.co.uk/?p=4837 If you are a business looking to grow and buy new equipment then you have a few options available. You could finance it yourself, but then you can only choose the equipment your working capital affords and using the banks can be a difficult and lengthy procedure. A finance broker, like Johnson Reed, could be the best choice for your business.

With over 15 years of experience leasing to sole traders, restaurants, gyms and many more, we know the industry and our industry-specific advisors can offer you the best unbiased advice, and are always on your side. We look to build long-term relationships with our clients.Read More

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stevepb / Pixabay

If you are a business looking to grow and buy new equipment then you have a few options available. You could finance it yourself, but then you can only choose the equipment your working capital affords and using the banks can be a difficult and lengthy procedure. A finance broker, like Johnson Reed, could be the best choice for your business.

With over 15 years of experience leasing to sole traders, restaurants, gyms and many more, we know the industry and our industry-specific advisors can offer you the best unbiased advice, and are always on your side. We look to build long-term relationships with our clients.

We are bringing back “common sense” underwriting and have a 92% acceptance rate, meaning we can help dozens of businesses every month.

Maybe you are looking for furnishings, equipment and training for your staff from more than one supplier. Well with Johnson Reed as your finance broker we can create split deal where you can have one point of contact and a single fixed payment finance deal.

If you would like discuss why Johnson Reed should be your finance broker then please get call us on 0161 429 6949 or visit http://www.johnsonreed.co.uk.

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Choosing the best way to find Financinghttp://www.johnsonreed.co.uk/tips-and-advice/choosing-the-best-way-to-find-financing http://www.johnsonreed.co.uk/tips-and-advice/choosing-the-best-way-to-find-financing#comments Mon, 18 May 2015 13:54:37 +0000 http://www.johnsonreed.co.uk/?p=4833 When trying to find out the best way to fund your businesses expansion it can be difficult to work out the best way to get funding, often articles and reports can be contradictory and confusing. Even though headlines are saying that more money is being offered to SMEs through traditional banks, it can still be difficult to get quick and reasonable funding options.

Keeping ahead of your competition often means responding quickly to customer changes and making sure you have the most up-to-date equipment or changing your business décor. A quicker, simpler and more personal experience can be had from choosing a leasing option with Johnson Reed.Read More

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stevepb / Pixabay

“Compared to previous quarters, approved borrowing [from Banks] overall was lower [for SMEs] in the final quarter [4TH Quarter 2014]” – BBA 26th Feb 2015

“The equipment leasing segment [for SMEs] saw a moderate increase of 1.0% in 2014” – Leaseurope 27th March 2015

“New fund launched offering billions to SMEs” – SmallBusiness.co.uk 11th May 2015

When trying to find out the best way to fund your businesses expansion it can be difficult to work out the best way to get funding, often articles and reports can be contradictory and confusing. Even though headlines are saying that more money is being offered to SMEs through traditional banks, it can still be difficult to get quick and reasonable funding options.

Keeping ahead of your competition often means responding quickly to customer changes and making sure you have the most up-to-date equipment or changing your business décor. A quicker, simpler and more personal experience can be had from choosing a leasing option with Johnson Reed.

Here are some reasons why Johnson Reed leasing could be the perfect choice for your business.

  1. Johnson Reed has a personal approachIf you choose financing with Johnson Reed you will have one point of contact that is a specific industry specialist, be it catering, IT, sole trader or more, that can give you advice on making the most of your financing. We focus on building a consistent, long-term relationship with our clients.
  2. More than just equipment leasingLeasing from Johnson Reed doesn’t just means you can afford the best quality equipment for your business. You can also benefit of new equipment by simply upgrading or extending its current use and one rental can include all the equipment and the cost of installation, training and maintenance.
  3. Don’t be held hostage by your working capitalWe offer fixed monthly repayments that don’t affect your company’s cash reserve, won’t affect your any of your existing credit lines, allow you to keep your working capital and offer tax incentives.

If you would like more information on leasing with Johnson Reed please call us on 0161 429 6949 or visit www.johnsonreed.co.uk

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IT Financing with Johnson Reedhttp://www.johnsonreed.co.uk/it-finance/it-financing-with-johnson-reed http://www.johnsonreed.co.uk/it-finance/it-financing-with-johnson-reed#comments Wed, 13 May 2015 13:29:09 +0000 http://www.johnsonreed.co.uk/?p=4829 Here at Johnson Reed we proud of being IT financing specialists. We have strong relationships with a lot of main suppliers in the industry and are happy to look at funding all possible equipment needed to grow your IT solutions business.

If the banks or other lenders aren't giving you the answer you want then there are many reasons why you should contact us for financing options. With over 15 years of experience in this sector we know what an IT solutions company needs to operate. This specialist knowledge allows us to help you manage your finances and give you the guidance you need to grow.Read More

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blickpixel / Pixabay

Here at Johnson Reed we proud of being IT financing specialists. We have strong relationships with a lot of main suppliers in the industry and are happy to look at funding all possible equipment needed to grow your IT solutions business.

If the banks or other lenders aren’t giving you the answer you want then there are many reasons why you should contact us for financing options. With over 15 years of experience in this sector we know what an IT solutions company needs to operate. This specialist knowledge allows us to help you manage your finances and give you the guidance you need to grow.

We don’t just lump all IT companies together and will look at every client’s circumstances on an individual basis. Taking note of their experience, opportunities and ability to pay back the fixed monthly repayments. We have our own lending fund, panel of underwriters and use satellite technology to see the area the business is in and how much competition they face.

Working together with the client we can usually broker a deal quickly while ensuring they acquired all the equipment they need with a suitable rate that keeps their cash flow buoyant and gives them some tax efficient savings.

For example when Adrian Meadowcroft, owner of CS Systems based in Manchester, needed to upgrade their offsite backup hardware they contacted Johnson Reed to help them.

With over 20 years experience in the industry and they needed the safest and most reliable offsite data storage for the top marketing and health care providers data. Our financing teams were able to create the best financing deal possible swiftly, which allowed them to keep their working capital to grow their sales team and take advantage of tax breaks.

Having worked with the whole team from JR for many years now, it was a simple decision to place my finance requirement with them. We have now increased out recurring income 3 fold with Johnson Reed’s help and my cash has been used to grow the sales team. Thanks!
Adrian Meadowcroft, Owner

If you would like to know more about how Johnson Reed can help improve your IT business by upgrading your equipment please get in touch with us today on 0161 429 6949 or www.johnsonreed.co.uk.

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Johnson Reed help the Seagull’s Ocean Boat fry the competitionhttp://www.johnsonreed.co.uk/fish-and-chip-shops-finance/johnson-reed-help-the-seagulls-ocean-boat-fry-the-competition http://www.johnsonreed.co.uk/fish-and-chip-shops-finance/johnson-reed-help-the-seagulls-ocean-boat-fry-the-competition#comments Fri, 08 May 2015 10:28:26 +0000 http://www.johnsonreed.co.uk/?p=4826 When experienced businessman Mr Spiros Bojouri recently took over the established fish and chip shop The Seagull's Ocean Boat in Bridgnorth, Shropshire, he had plans to improve this popular business.

Understanding quality is important in the catering industry he decided to completely revamp this fish bar and take away. This included replacing the old fryer with a new bespoke Hopkins four-pan high-efficiency country frying range and having a custom made curved glass hot and cold display cabinet built.Read More

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lena1 / Pixabay

When experienced businessman Mr Spiros Bojouri recently took over the established fish and chip shop The Seagull’s Ocean Boat in Bridgnorth, Shropshire, he had plans to improve this popular business.

Understanding quality is important in the catering industry he decided to completely revamp this fish bar and take away. This included replacing the old fryer with a new bespoke four-pan high-efficiency country frying range and having a custom made curved glass hot and cold display cabinet built.

To undertake this renovation Mr Bojouri contacted one of our catering finance specialists here at Johnson Reed to give him a fixed payment deal that didn’t need a deposit, offered a great tax break and much of the interest payable from the loan ended up being offset.

With the renovations completed and the fryers hard at work, we are proud to say the changes in The Seagull’s Ocean Boat has made a dramatic improvement to look of the chip shop and business is booming.

If you would like to sample the fried food Mr Spiros Bojouri and The Seagull’s ocean boat has to offer please visit them at 67 Listley Street, Bridgnorth, Shropshire, WV16 4AW.

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