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The investment arm of tyre giant Michelin has provided a five-figure cash injection to a Staffordshire-based chartered surveyors’ practice to help it expand.

Stoke-on-Trent-based Mounsey Chartered Surveyors has said it is expecting to take on new members of staff over the next five years following the £35,000 boost from Michelin Development.

The Festival Park company specialises in commercial property services, including acquisition and disposal, valuation, lease and rent renewal and property management. It also carries out residential surveys and valuations.

Michelin Development offers subsidised, unsecured loans of up to £50,000, for projects with the potential to create quality, sustainable jobs.

Mounsey Chartered Surveyors founder Richard Mounsey said: "When we took on the loan we employed seven people, but that has increased now to ten in the last couple of months.

"We are having a good year, but it is forecasting that can be difficult. The support from Michelin Development has provided a safety net and comfort that we can utilise. Ultimately, it has enabled us to be confident and ambitious.

"The actual application process has also been very useful, as it helped us to review and look where we are going as a business."

Mike Cole, head of Michelin Development, added: "Mounsey Chartered Surveyors is an example of a growing Stoke-on-Trent business, creating new jobs and underpinning the growth of the regional economy.

"Our message to other small businesses in a similar position is not to miss out.

"We have the funds in place, but we do need to receive applications to deliver this support and investment in our community.

"The companies we can help know their markets and figures. They just need a little extra support to move along on that growth journey, and that is where we can step in to help."

Article and image taken from insider media.

More details on the Michelin Development fund can be found here.