Case studies - business support
Company: Brown Reference Group
Entrepreneurs: Ashley Brown
In October 2005, GLE oneLondon's Loan Fund agreed a substantial Access to Finance Mezzanine Loan to publishing company Brown Reference Group plc to assist with the establishment of an American office.
The company, founded in the UK in 1995 by Ashley Brown, enjoyed rapid growth in its three principal market sectors – publishing educational books, publishing single volume illustrated books for the international book trade, and producing weekly or fortnightly magazines. Whilst enjoying success in the UK, by far its biggest market was publishing educational reference books for American primary and high schools, colleges and libraries.
However, while the company had been successful in the American market, there remained some resistance to non- American companies. To overcome this issue, Ashley appointed an experienced figure in the US educational book market to be based in a New York office, and as US sales increased extra jobs were created in London as a result.