Grant to help garage firm change gear

ROMAS Videikis, helped by Oldham Enterprise Trust and Business Finance Solutions

ENTREPRENEUR Romas Videikis has turned his lifelong passion for cars into a fast-growing garage business, thanks to a £25,000 loan from Business Finance Solutions (BFS) and support from Oldham Enterprise Trust.

The trust was relaunched earlier this year and now has designated capital provided by the Stoller Charitable Trust and BFS start-up loans. The support is specifically aimed at supporting new and growing businesses in the Oldham borough.

Mr Videikis opened his vehicle repair and recovery business Rovi Auto & Performance in Hamilton Street, Oldham, in 2015 with the help of a £15,000 loan from the Oldham trust.

Having grown the business to a size where he was able to leave his full time job as a warehouse operative, he has now secured a £25,000 start-up loan from BFS to allow him to expand the business further and create a number of local jobs.

A finalist in the Young Entrepreneur category in the 2017 Oldham Business Awards, he specialises in the restoration of classic cars and has already bought, restored and sold a number of vehicles and intends to focus on this as a unique arm of the business. It offers services including body work, engine rebuilds and body polishing, and Mr Videikis has plans for car washing, MOT and tyre services.

Roger Seddon, head of lending at BFS, which is part of the Manchester Growth Company linked to local authorities, said: "Romas has created a great example of the kind of ambitious businesses that are shaping and building our economy.

"Starting and growing a business from scratch is not for the faint-hearted, but Romas has both the passion and the expertise to make his a success. Working alongside Oldham Council and the Business Growth Hub, we have been able to introduce him to a wealth of funding, support and advice at what we hope is just the start of his growth."

Mr Videikis said: "Cars have been my passion for many years so being able to build a business that enables me to do what I love and that is bringing new jobs to Oldham is really exciting.

"Working with the Business Growth Hub, Oldham Enterprise Trust and BFS has made a huge difference to being able to work through my plans and then secure the funding I needed to take the garage to the next level."

Dave Benstead, chairman of the Oldham Enterprise Trust said: "Romas typifies the spirit of entrepreneurship that we find in many of our young people. Thanks to the generosity of the Stoller Trust, the expertise of Business Finance Solutions and the free business support available from the Business Growth Hub, we can offer young people in Oldham, with personal drive like Romas, an easy to access one-stop-shop to get both business funding and advice."

BFS has £15 million to allocate to new start-ups across the north-west over a two-year period, with targets to create around 3,000 new businesses and over 5,000 new jobs in the region.