BFS has awarded £250k to Oldham based furniture retailer Moda Furnishings and sister company Home Inc which will enable both businesses to start exporting into Europe and the USA with predicted export sales in excess of £4m over the next two years.
The £9.5m Fund is part of Greater Manchester’s bid to become more globally competitive by helping local businesses to increase their export sales. Delivered by Business Finance Solutions, Business Growth Hub and UKTI, it provides targeted grant and loan funding to enable local businesses to secure and grow export contracts all over the world.
Moda Furnishings designs and sells rattan garden furniture and accessories, made using aluminium frames and a unique synthetic product that has the look and feel of natural rattan but is fully weatherproof.Trading online, via their 6000 sq ft store in Failsworth and a recently opened showroom in Enfield, London, Moda recently launched sister company Home Inc last year to sell uniquely designed indoor home furnishings to the trade.
Moda Furnishings and Home Inc are owned by husband and wife team Philip and Joanne Lomax who will now use the £250k Export Fund loan to significantly expand their current operations in the US. Moda will shortly launch its dedicated American website to sell direct to customers and also occupy a showroom in Orange County, California. The increase in export sales will also create 23 new jobs and safeguard the jobs of 20 full time employees in Oldham.