24/05/2010

Office 24-7 expands “virtual” support to businesses with Finance Wales micro loan

A Monmouthshire-based business support enterprise providing “virtual” office services to companies globally is expanding after securing a micro loan from Finance Wales.


Entrepreneur, Miriam Rees, started her administrative support venture, Office 24-7, from home aged 23 in 2007. Now, based in offices in Bridge Street, Usk, the business has clients in New York, Dubai, London and France, as well as throughout Monmouthshire and South Wales.

The business provides clients with telephone answering services, book-keeping, PA services, accounting, business and tax planning. Clients include Nicky Grist (Motorsports), Angel Jackson (fashion bags and accessories), and the company has just secured Jean Christophe Novelli’s cookery academy.

Keen to grow the business, Miriam turned to Finance Wales for a £20,000 micro loan to invest in an advanced telephone system, marketing and web site development. “The approach of Office 24-7 is to understand the business owner and not work as PAs or book-keepers, but as business partners,” said Miriam. “That’s has been the USP of the business and why we’ve managed to secure a number of high profile clients.”

Miriam added: “I realised that I needed to invest in the business in order to expand and widen our client base. Investment in a new telephone system was paramount as well as upgrading our web site,” said Miriam, who plans to open additional offices in South Wales as the business grows. I approached Finance Wales for a loan and within days of the application they told me I had been successful, allowing me to get on with the business.”

Miriam started the business from home but as her client list increased she realised she would need to take on additional part-time staff and move to a bespoke office. Office 24-7 now employs three people, two of whom are part-time, although Miriam plans to employ several full-time staff in the near future.

Rebecca Saunders, Investment Executive at Finance Wales, said: “Not only will the micro loan enable Office 24-7 to grow with a professional image and new high-tech equipment, but it will also provide the flexibility to employ two full-time members of staff.”

Finance Wales, which provides commercial investment to businesses in Wales, can provide micro loans of between £5,000 and £25,000 to qualifying businesses.