Company to expand after £150,000 funding

10:01am Friday 11th April 2008

A NORTH-EAST risk management group is aiming to double its workforce in the next 18 months as demand for its services soars.

Security Risk Management, of Newcastle, is looking to increase its number of employees from 15 to at least 30 by the end of next year.

The decision came after the firm received large amounts of work since it moved to the North-East from Surrey three years ago.

The company's turnover has also reached a record level of £500,000, and is expected to rise further after a £150,000 funding boost from Evolve Finance, the specialist mezzanine and debt division of NEL Fund Managers.

Stephen Brown, managing director at Security Risk Management, said the future for the firm looked promising.

"There is an increasing demand for risk management services, particularly in the financial services and IT sectors," he said.

"We also have a forensic laboratory specialising in computer crime, in which we carry out corporate investigations with police forces and legal aid professions.

"We have organically grown to £500,000 turnover with no outside investment until now."