{"id":52133,"date":"2015-01-02T14:18:54","date_gmt":"2015-01-02T14:18:54","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=8a546571f76a3f4318bfb0c5ffd502a1"},"modified":"2015-01-02T14:18:54","modified_gmt":"2015-01-02T14:18:54","slug":"news-story-double-the-staff-and-quadruple-the-profits-a-british-success-story-in-shropshire","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=52133","title":{"rendered":"News story: Double the staff and quadruple the profits. A British success story in Shropshire"},"content":{"rendered":"<div class=\"govspeak\">\n<p>Chancellor of the Exchequer George Osborne today (2 January 2015) paid tribute to a British success story on a visit to Telford.<\/p>\n<p>The Chancellor visited LVS Small Plastic Parts Ltd, a specialist plastic manufacturing firm, to see how government funding has helped the business increase its turnover by over 300% in the last 5 years.<\/p>\n<p>The family business, which was started in 1975, was on the brink of collapse in 2009 at the peak of the financial crisis. With the help of government funding, the business has made huge steps to become a leader in plastic manufacturing, including:<\/p>\n<ul>\n<li>increasing turnover from just over \u00a31 million in 2010 to a predicted \u00a35 million in 2015<\/li>\n<li>more than doubling the number of employees from 20 to 55, including 4 apprentices<\/li>\n<li>securing contracts with major international clients including Jaguar Landrover, Bentley, Triton Showers, Mini and Bacofoil<\/li>\n<\/ul>\n<p>The firm has been able to grow largely thanks to a \u00a31 million investment in new machinery through the government\u2019s Capital Allowances scheme, which allowed the business to deduct the value of the new machinery from its pre-tax profits.<\/p>\n<p>The firm has also benefited from over \u00a3100,000 through the government\u2019s Regional Growth Fund, as well as nearly \u00a325,000 through the Business Innovation Programme.<\/p>\n<p>Chancellor of the Exchequer George Osborne said:<\/p>\n<blockquote>\n<p class=\"last-child\">Britain\u2019s businesses are the lifeblood of our economy, which is why a key part of our long-term economic plan is helping Britain\u2019s businesses grow and succeed.<\/p>\n<\/blockquote>\n<blockquote>\n<p class=\"last-child\">There are firms up and down the country who are working hard every day to get their business off the ground or to grow further.<\/p>\n<\/blockquote>\n<blockquote>\n<p class=\"last-child\">It\u2019s great to visit another of these firms today, LVS Small Plastic Parts Ltd, which has turned itself around in the last 5 years to become a brilliant local success story. I\u2019m incredibly proud of firms like them which is why I\u2019ve made sure that, wherever we can, we\u2019ve taken action as a government to back them.<\/p>\n<\/blockquote>\n<p>Simon Anderson, Managing Director at LVS Small Plastic Parts Ltd, said:<\/p>\n<blockquote>\n<p class=\"last-child\">It is fantastic to have the Chancellor visit Telford and acknowledge the efforts and contribution to the economy of a SME business like LVS Small Plastic Parts Ltd.<\/p>\n<\/blockquote>\n<blockquote>\n<p class=\"last-child\">The success of our company has been built on the hard work and flexibility of our staff. I\u2019m exceptionally proud of their dedication, including the outstanding work of our apprentices. Regional Growth Fund support has been key to getting the right people in the right jobs, and has helped us make the right investments to reshore product manufacturing from the Far East.<\/p>\n<\/blockquote>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Chancellor of the Exchequer George Osborne visits LVS Small Plastic Parts Ltd in Telford.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/52133"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52133"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/52133\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}