Member Article

North East company applies ‘last minute’ model to training course provision

A North East web company has received funding for an innovative new service which aims to use a ‘last minute’ business model to help training course providers.

Help Training Courses have secured £55,000 of investment from the Finance for For Business North East Growth Fund, as they launch a web portal that facilitates discounted bookings for customers.

Having launched less than 18 months ago, the portal offers over 10,000 courses from more than 400 training providers right across the country.

The recent funding, secured from regional fund management firm NEL Fund Managers, will now help the company in a drive to bring even more providers to the portal.

Craig Fantarrow, one of the founders of the company, said: “When training providers put on their courses, they have fixed costs for things like venue hire and catering which take a large chunk out of their profits if their courses don’t sell out.

“Our portal takes the last-minute discounting model that is more usually seen in the travel and leisure sectors, and gives training course providers the chance to sell empty places at discounted rates to an audience of several thousand unique users who are all actively looking for the services they provide.”

The concept aims to benefit providers with sales, while the buyers can access the training at lower prices.

Now, following marketing activity through social media, and other online areas, Chris hopes to pursue a wider strategy to broaden the services the firm offer.

Jane Siddle, investment executive at NEL Fund Managers, added: “Help has combined detailed knowledge of a niche market with an innovative use of proven technology to build a successful business in a very short time, and the continuing monthly increase in the portal’s user numbers indicates a strong ongoing demand for the services they provide.”

The funding for Help is just part of the £125m if investment capital brought to the region by the European Investment Bank, the European Regional Development Fund 2007-13 and the regional development agency, over the next five years.

This was posted in Bdaily's Members' News section by Tom Keighley .