A FIFE e-learning company is looking to double in size following a six-figure financing deal that will allow it to ramp up its staffing levels.
Dunfermline-based eCom Scotland, which focuses on workforce training, plans to bring its headcount to 40 by 2015, a doubling of staff numbers from 2013. This is expected to raise turnover to £1.6 million, up from £800,000 in the 2013 financial year. The move is supported by a £100,000 loan from Royal Bank of Scotland through the government-backed Enterprise Finance Guarantee scheme.
The company has been in operation for more than 20 years, managing accreditation and compliance training for a range of customers, such as industrial heavyweight Howden, NHS Scotland, Scottish Water and a number of local councils. It also runs online examinations for Chartered Banker and the Institute of Chartered Accountants.
Managing director Wendy Edie said new staff usually spend three months in training before taking on client-facing work, creating a lag between the costs of hiring these people and the revenues they generate. The loan will allow eCom to bridge that gap.
She added that the additional working capital would not only allow eCom to hire new people, but also “put them through the specialised training process which is essential with a business like ours”.
Steven Hunter, relationship manager at RBS, said: “ECom is a growth focused business. When you combine this with their strong reputation in the market, excellent client base and the ongoing rise in the use of e-learning across the corporate community you have a business with real scope for development and further success.”