DIRECTORS of a Craven firm have praised the financial support they have received from a business programme run by the European Regional Development Fund which has helped put the company on track to a £2 million turnover.

Crimson Bear, based in Cross Hills, which supplies designer radiators and electrical heating products, secured more than £6,500 in match-funded help from the European fund’s ‘Ad:Venture’ support network.

Directors Paul Johnson and Andrew Smith used the cash to invest in office equipment such as desktop PCs, furniture, IT kit, desks and storage.

The company, which was initially a home start-up, now counts national chains such as B&Q and Victoria Plum among its customers, and has been endorsed by Theo Paphitis of television’s Dragons’ Den.

Paul Johnson said: “When we launched the business we always intended to grow but by accessing the ‘Ad:Venture’ programme we were able to move our plans forward and put them into practice far sooner.

“Thanks to the grant and the practical support we were able to benefit from, we are now on track to turnover £2m, which is excellent news. We have also created jobs with the appointment of an online trading manager and a stock warehouse controller. In addition, we have invested in two local apprentices who will complete their studies this year and be offered full-time positions with the business.” Crimson Bear has also been recognised in the Keighley and Airedale Business Awards, where it was named ‘Micro Business of the Year.’

Cllr Simon Myers, lead member for Enterprising Craven at Craven District Council, said that Crimson Bear’s story could have a positive influence on anyone thinking of starting their own business. He said: “Their success and future plans will have a direct economic impact in Craven. It’s great to see how the company has gone from being a home-based start-up to the success it is.

“This is also a further example of how programmes like Ad:Venture, which are here to support young and start-up businesses, are doing just that.”