Member Article

Driffield cultivation firm grows with £75k investment from Finance Yorkshire

Driffield agricultural firm Cultivating Solutions is set to grow following a £75k investment by Finance Yorkshire.

The Business Loan from Finance Yorkshire will be used by the company, which manufactures cultivation equipment, to develop a new cultivating drill, intended to increase crop yield.

Richard Scholes launched Cultivating Solutions four years ago after working as an arable farmer himself.

The business employs 10 staff who design, fabricate and assemble a range of cultivation machines costing £10k to £100k for sale across the UK, through a dealer network, and direct to Denmark.

Richard said: “The investment by Finance Yorkshire allows us to move forward and expand our product range as well as giving us long term potential across mainland Europe.

“Over the years, arable farming has increasingly been operated on a much larger scale, and accuracy and attention to detail have become key to improving the growing conditions for a crop and therefore maximising the yield of the crop.”

Martin Overfield of Smailes Goldie Accountants in Hull introduced Cultivating Solutions to Finance Yorkshire and advised the company on the deal.

Ian Atkinson, Finance Yorkshire investment manager, said: “Richard has an impressive track record, building his business from scratch to a point where the company is well established with good prospects for growth through the expansion of its product range and export sales.”

To date, Finance Yorkshire has made 663 investments totalling over £83 million.

This was posted in Bdaily's Members' News section by Clare Burnett .