Aberdeenshire-based Innovair, a specialist in the development and operation of robotic systems for the energy and construction industries, is set for growth after securing £135,000 financial support during Covid-19 following Business Gateway support (www.bgateway.com/coronavirus
The company, which develops ‘state of the art’ survey and inspection technology to help companies across many industries overcome challenges in difficult working environments, was experiencing considerable growth until the pandemic struck and the lockdown led to cashflow uncertainty.
However, after turning to Business Gateway for vital support and advice, together with signposting to relevant and applicable loans and grants, Innovair managed to gain financial support from both the Government‘s bounceback loan scheme and the Pivotal Enterprise Resilience Fund for Scottish SMEs, while also furloughing staff during April and May.
As a result, the company has been able to secure further orders for products and services since March, with at least 10 projects lined up in Scotland. Innovair has also increased its headcount by two during lockdown to support with the volume of work and backlog of projects that were put on hold.
Stuart Lawson, solutions director at Innovair, said: “The financial support has been a lifeline, as most of our work has been on hold since lockdown. It was worrying as the initial advice around funding and loans was not applicable to our industry and business, but despite this, Business Gateway was excellent at keeping us updated with the latest developments so that we were aware of what support was being announced and what would work best for our business needs.
“Prior to the pandemic, we were focused on establishing ourselves nationally and had already started to attract attention from international markets with interest from companies based in the Middle East. Our aim moving forward is to capitalise on these opportunities and continue to grow throughout 2020.”
Before the pandemic, Business Gateway worked with Innovair to provide a strategic business review and advice on company regulations, marketing, financial restructuring and exporting abroad.
The organisation was also assisting the firm with its plans to take on larger premises to accommodate future growth when lockdown was introduced.
Business Gateway adviser John MacGillivray said: “Like many other companies when lockdown was introduced, Innovair knew there was funding and loans available.
“However, with so much information about different types of Government support available, it became overwhelming for many. It has been great to see how our support and advice has been of real value to Stuart and the team.
“While the immediate priority will be adapting to the new ways of operating, I am confident that Innovair is well placed to continue moving forward and expanding in 2020, and beyond.”