£75,000 Regional Growth Loan to Expand International Magazine Offering

With a long-standing career in the publishing industry, Ben Weaver was in the perfect position to take charge of his own business in the digital and printed media sector by purchasing an existing business when it came up for sale earlier this year.

Ben’s career had encompassed a number of international roles, working at the heart of publications focusing on the business issues facing different parts of the world, from Europe to Africa, Australia and Canada. So when the opportunity to purchase a leading business magazine came up, Ben didn’t hesitate in seizing it. Outlook Publishing Limited purchased the assets in March, completely rebranded the entire stable of publications and websites, introduced new staff and working procedures and has already exceeded initial sales forecasts.

As Ben explained: “Having spent many years in senior positions at large media companies, I felt ready to take on the challenge of running my own business in this sector. I had worked on several business to business publications previously and knew the opportunities in this field. It seemed like the perfect time and occasion to make this move.”

The acquisition and launch of Africa Outlook is only the start of Ben’s plans. His next move is to expand the number of business titles to cover other geographical areas, in order to establish OPL as a serious player in the international digital business magazine market.

Ben continued: “Our intent is to grow the business quickly. In the short time we have been operating we have already launched our second publication, Asia Outlook and once this is successfully implemented, our next move will be to increase the range of regional publications with the introduction of Outlook magazines for the European and Australian markets.”

In order to fulfil these ambitions, Ben turned to the team at Finance East, who have provided a £75,000 loan from the East of England Regional Growth Loan Scheme.

Stuart Ager, senior fund manager said: “When considering whether or not to provide funding to businesses seeking a loan from the East of England Regional Growth Loan Scheme, we are mindful, not only of the business opportunity, but of what the senior management bring to the table. It was clear to us that Ben, with his depth of knowledge and experience of this sector, was well-positioned to deliver the goals set out in the business plan. We are delighted to be able to provide this loan and are looking forward to seeing how the company progresses.”