A Birmingham-based communications agency has built larger premises and is introducing new services for clients including Halfords and Ocado, with the support of a £1.6million funding package from Lloyds Bank Commercial Banking.
Jones and Palmer Limited, on Carver Street, is a family business that was originally established in 1906 as a printing company. Over the past 15 years, it has grown and developed to offer corporate communications services to major clients across the country, including United Utilities, Superdry and IP Group.
Managing director James Houston, whose grandfather bought Jones and Palmer in the 1950s, recently turned to Lloyds Bank for funding support after the business outgrew its previous site.
The £1.6million funding package from Lloyds Bank, which included a £750,000 working capital facility, enabled the business to complete its new premises, The Media Works. The site offers 15,000 sq ft of office space in Birmingham’s historic Jewellery Quarter.
This has given the agency the space to continue its expansion and provide a wider range of services, which now includes brand development consultancy. It is also looking to rent the remaining offices in the building to other creative businesses in the area.
Jones and Palmer has an annual turnover of £3.5million and currently employs 52 people, but is looking to expand its team in the future as the business continues to grow.
James Houston, managing director at Jones and Palmer Limited, said: “The expansion of our premises and introduction of new services is a positive step forward in expanding our growth and maintaining our competitiveness in a crowded market.
“We’ve been growing organically over the past few years but with our impressive new work space, we’re looking to further accelerate this growth and attract likeminded, creative businesses to The Media Works. The support from Lloyds Bank has been invaluable in helping us to expand and achieve our vision of developing an exciting and collaborative creative hub in the heart of Birmingham.”
Darren Billinge, relationship director at Lloyds Bank Commercial Banking, said: “It’s great to see Jones and Palmer flying the flag for businesses in Birmingham and investing in growth.
“Ensuring that businesses like Jones and Palmer have the right funding and guidance is one of the ways we’re helping Britain prosper. To underline this, we’ve increased our net lending to SMEs by 32% over the last six years.”
