Training firm 20/20 sets sights on expansion

20/20 Business Insight will use the cash to open an office in London and expand its bases in the Czech Republic and United States.

The moves are also expected to create about five jobs, taking the company’s head count up to 30 staff. Some of the lending will be used to set up a £250,000 online learning  facility.

The firm predicts that its turnover will rise to £2.9 million this year following the expansion drive, up from £2.3m in the previous 12 months.

The company, which also has bases in Aberdeen and Manchester, said it has grown its revenues by between 20 and 40 per cent a year during each of the past nine years.

Customers including Chevron, Halliburton and Schlumberger use 20/20 to train their engineers to manage projects. In total, the firm runs more than 200 project management courses each year.

Tony Marks, group managing director, said: “After nine years of sustained growth, we wanted to expand our international business in order to  increase sales.

“Now, with the bank’s support, we can reinvest in our people, products and services for the next phase of growth.”

George Corstorphine, business partner at Clydesdale Bank’s Dundee business banking centre, said: “20/20 has already established itself as a leading provider of project management training internationally, running courses for a number of multinationals.”

As well as working with large energy companies – such as Scottish Gas owner Centrica, Shell and Wellsteam International – 20/20 teamed up with Edinburgh-based Goodpractice.net and Ellon-based Oil & Gas Development Corporation in 2009 to create an  online project management course offered by the University of Ghana.