Tyre supplier targets £10m turnover
Morecambe-based Wess Tyre Traders is back on track to hit £10m in turnover after receiving six-figure funding from NPIF – FW Capital Debt Finance.
The £225,000 is part of the Northern Powerhouse Investment Fund and is backed by the Coronavirus Business Interruption Scheme. The funds helped the see the company through the coronavirus pandemic, which impacted on its ability to trade internationally.
Wess Tyre Traders sources and trades in the major tyre brands worldwide. The company also represents several manufacturers from South East Asia shipping to tyre suppliers across the globe including the USA, Netherlands, South America, Australia and South Africa.
he company is now back on track and has recently taken on two new staff taking the total to five. Turnover this year is expected to reach £6m and is on target hit £10m during the next three years.
Andy Wess, who has over 40 years of experience in the tyre trade and set up the company five years ago, said: "After so many years in the business, I have built up a network of contacts all of the world and spend a lot of time travelling abroad to source and sell products also to oversee shipments.
"Unfortunately, the pandemic made international travel very difficult, so it was really important for us to increase our presence here as there are lots of opportunities for us to expand in the UK. We’ve just taken on another small warehouse in Morecambe and needed working capital to increase stock purchase and hire two new staff."
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