PRESS RELEASE – EQ eStore Orders Pass £100k Mark
Orders for the new eStore software module launched by Tamworth based EQ Software Ltd passed the £100k mark in August 2010.
EQ Software Ltd provides a range of business management to the kitchen, bathroom and bedroom furniture market and is the leading supplier in its sector with more than 3,500 users throughout the UK. In April 2010, EQ Software launched its new eStore module designed to encourage its customers to take advance of eCommerce and by August 2010, orders for this new module had already passed the £100k mark.
The significance of this story is that the eStore module would almost certainly have never made it from the drawing board but for the encouragement of a proof of concept grant made available by Advantage West Midlands (the now doomed RDA) back in 2009. Commenting on this story, Paul Heaven of Blue Sky Corporate Finance and Non-Exec Chairman of EQ Software Ltd said “when people bemoan the contribution of RDA’s like Advantage West Midlands (AWM), they always ignore success stories like this one which would not have happened but for the intervention of AWM. On the back of tough trading conditions in the recession, this company was simply not financially strong enough to gamble on a proof of concept development of this nature and despite the fact that they were confident that the new software would be well received, it is almost certain they would have put this project on the back-burner. The proof of concept grant took just enough risk out of this investment to encourage them to go ahead and now the outcome is exceeding just about everyone’s expectations.”
Paul Heaven goes on to further comment “The AWM grant contribution was £30k and aside from the fact that this module has helped the company return to profits post recession, thereby securing more than 30 jobs, the project has already created 4 new full time jobs and at the present rate of growth, it is likely to create 4 more within a year of its launch”.
For further information on EQ Software, please visit www.eqsoftware.net