Aquaseal Rubber - a family owned business manufacturing industrial-strength rubber and polymers for sectors including marine, defence, automotive, agricultural and food industries - is also planning to invest in a large moulding press which mean expanding the current Longbenton workshop.
It has already increased turnover by £100,000, doubled profit and created two jobs after securing a grant from Investment for Growth and launching a new website.
Jason Armstrong, managing director of Aquaseal Rubber, said: "This time last year we were short on cash flow and just ticking along really – not exactly growing. We appointed a web development company to help us refresh our website and they told us about the funding available from Investment for Growth.
"The grant has allowed us to make our web presence much better, giving us a more professional look and feel to the company, better communicating what Aquaseal is all about. We can confidently show our new and existing customers who we are, what we can do and how we can help them and their business."
Aquaseal applied to Investment to Growth in December 2013, and by March this year, its application had been approved, with funds being made available three weeks later.
Since the launch of the new website, Aquaseal reports a steady stream of custom with fresh orders from bigger companies placing larger orders, particularly from businesses in the off shore energy sector.
Armstrong added: "Thanks to the help from Investment for Growth the results of this project are way beyond what we ever expected – we’re delighted. I would not hesitate to recommend my advisor to other business owners; in fact, I’ve passed his contact information on to two companies in the local area already."
Colin Bunn, business adviser at Investment for Growth, said: "Jason and the team at Aquaseal Rubber are a great example of how the use of an up-to-date website and digital marketing plan can fundamentally change the prospects of a company.
"Aquaseal Rubber is now reaching a much wider audience and this is translating itself into new orders and improved profitability."
Investment for Growth has announced it is extending its business investment project to the end of 2014, thanks to an investment of approximately £1m from the European Regional Development fund, and is calling for applications from more SMEs.
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