Although Stiltz is a relatively young business, they have experienced rapid growth over several years. This is due to strong investment, innovative products, a strong team, key relationships with domestic and overseas distributors and good PR within their industry and the wider business community.
Population ageing has also been a contributing factor to the young business’ growth. In 2015, there were around 901 million people aged 60 years and over worldwide, representing 12.3% of the global population. By 2030, this will have increased to 1.4 billion or 16.4% and by 2050, it will have increased to 2.1 billion or 21.3% of the global population (Office For national Statistics). With the global phenomenon of population ageing, the UK is seeing a push away from residential care more towards domiciliary care and it is expected that this marketplace will continue to grow.
The Stiltz lift is a direct competitor to stair-lifts and is designed for use by householders who, through a lack of mobility, find it difficult to use stairs.
The funding package will allow the business to deliver its growth plan; upgrading its internal system, increasing stock and creating 16 new jobs in the region.
Could MEIF Maven Debt Finance help fund your growth journey?
If you’re running an SME business that’s looking to grow, we’d love to hear from you. Find out more about our fund here or feel free to give us a call to speak directly to one of our local Investment Managers:
0121 231 7125 Birmingham | 0115 697 6160 Nottingham
