Lancaster-based G-T-P Group Ltd, which offers a range of card issuing and transaction services, has been presented with an £185,000 Grants for Business Investment Award from the Northwest Regional Development Agency, to grow within the financial services sector, creating 25 jobs.
Formed in 2001, G-T-P, which is based in White Cross, provides card issuing and transaction services for two markets – account cards for business or trade customers and prepaid consumer cards, such as gift cards.
The company, which was recently a finalist in the 2009 Card Awards, currently employs 43 people, having gained UK market leadership in the operation of business-to-business account card schemes and expanded into the prepaid card market.
Now, G-T-P hopes to become the leading player in the card management market, increasing turnover to £4.6 million and staff numbers to 68. The grant from the NWDA will help that strategy, with G-T-P now able to invest in new IT infrastructure and card processing equipment, while leasing new premises.
“G-T-P is clearly a rising star within the financial services sector, achieving excellent results year on year,” commented Mark Hughes, Executive Director of Economic Development at the NWDA. “The NWDA is pleased to support regional businesses that have a flair for spotting areas for growth.
“With Agency support the GBI Group will have the means to fulfil their potential, increasing turnover and importantly increasing the number of jobs for Lancaster.”
“As an international company G-T-P’s strengths have been built on our heritage in the North West,” added Helen Child, Chief Executive at G-T-P, who will bejoining a host of international speakers at the 2009 Prepaid Card Expo in Orlando, Florida, the world’s largest gathering of prepaid, stored value and emerging payments professionals next month. “The NWDA Grant will allow us to continue our rapid growth, particularly within the prepaid market.”
• The NWDA is one of several government agencies trying to help keep local business on track despite the current economic downturn. For ore information on the range of support being offered go to www.nwda.co.uk/supportingbusiness • For more information on business support visit www.businesslink.gov.uk/northwest