Greater Manchester Export Fund Helps Support Fawkes Cycles To Explore New Markets
Oldham based internet retailer Fawkes Cycles is being supported with a £50,000 loan from the Greater Manchester Export Fund (GMEF) to fund growth for the business across new European and global markets.
Run by Nigel and Mandy Bishop, a former UCI women’s world road race champion, Fawkes Cycles sells a range of leading and niche bikes, parts and accessories. The funding will be used to invest in marketing and SEO, creating two new jobs to add to the current team of seven at its Oldham base. Fawkes aims to grow its customer base across Europe as well as operating pilot schemes in Asia and Australia to help combat the seasonality of the cycle market.
Nigel said: “Having increased sales by 43% in 2017 we really are at the forefront of the boom in cycling and we know that what we offer customers is a seamless e-shopping experience coupled with a level of service and quality that they really value.
“The UK cycle market alone is worth over £2.5billion and the funding from GC Business Finance now puts us in a far stronger position to be able to strengthen and grow our position at home as well as using a wider reaching marketing and sales strategy to access new territories.”
Delivered by GC Business Finance, Business Growth Hub and the Department for International Trade (DIT) which are all part of or delivered by The Growth Company, the GMEF provides access to a wide range of International trade support for both new and existing exporters along with access to loan funding to enable local businesses to secure and grow export contracts all over the world.