Challenger brands currently have more opportunity than ever before to enter and disrupt established sectors, using innovation, investment and interaction to help them to stand out and steal market share.
Telecoms in particular has seen a wave of new and agile start ups looking to take on the global giants, a trend that is bolstered by our increased reliance on digital technologies and communications, both at home and work.
One company making an impressive challenge to the market is Manchester based VS Group who received a BFS loan of £49.5k last year to expand their voluntary services telecommunications business that specialises in providing low cost communications solutions to voluntary services and the charity sectors. Since receiving their loan VS Group has trebled in size, with turnover on target to hit £1m and now has over 400 clients including law centres, Bluebell Children’s Hospice and the Police Treatments Centre.
Over the last three years VS has also saved its charity customers over a million pounds. When they applied to BFS for a loan VS Group had already achieved significant penetration into the charity communications market. By helping them to access the finance they need to grow we are supporting, not only a great business with big ambitions, but a team of people who are passionate about helping others and the community.
Founder Kevin Penman says: “Thanks to the loan from BFS we have been able to really expand our team in operations, telesales and engineering, enabling us to reach even more organisations with our unique savings and service “Having now successfully implemented solutions for over 400 charities, our mission is to become the number one choice for telecommunications services for charities in the UK.”