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Liverpool businessman is in the driving seat

08th Aug 2006

A luxury chauffeured car business is on the road to success, thanks to backing from Merseyside Special Investment Fund (MSIF).

Motor enthusiast George Cover says he has two great passions – cars, and caring for people. He decided to combine the two by launching his business, Prestige Traveller.

His idea was to purchase a vehicle that nobody would have seen before – and he chose the Chevrolet Sherrod, a luxurious 6/7 seater with leather interiors, air-conditioning and flat-screen TV.

He says: “As far as I know, this is the only one of these in the country, and it took a lot of hard work to get it! It is extremely classy – a wonderful experience for anyone who uses it. I love looking after people and showing them a good time, so the vehicle combined with that personal touch ensures that it is always something they remember.

“It is booked for events like days at the races; nights out, airport rides for special holidays – and it’s recently been used to take some competition winners to a special celeb day out at York Races.”

George, who is based in Waterloo, received a £10,000 funding package from MSIF’s Small Firms Fund, as well as £5,000 from the South Sefton Partnership. He also received support from Bizfizz. The investment helped him buy his first vehicle, and with start-up costs for the business.

His future expansion plans include buying more unusual and eye-catching luxury vehicles, and having a concierge service on board. Within the next five years, he expects to employ around five staff, and to have a turnover of £500-600,000.

Paul Humphray, Investment Manager at the Small Firms Fund, said: “George had a very firm idea of what he wanted to provide – not just a luxury vehicle, but an unusual and prestigious one. We were delighted to be able to help him start up his business, and hope to watch it expand in the near future.”

Ends

For further information contact Angela White at Merseyside Special Investment Fund on 0151 236 4040

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Picture shows (L-R): George Cover (Prestige Traveller) and Paul Humphray (MSIF).

Picture shows (L-R): George Cover (Prestige Traveller) and Paul Humphray (MSIF).

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msif funds

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liverpool seed fund

The Liverpool Seed Fund provides equity-based investments from £50,000 - £750,000 to early stage businesses with IP

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small firms fund

The Small Firms Fund provides loans (not grants) of between £3000 and £150,000

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mezzanine fund

The Mezzanine Fund provides loans between £150,000 and £1m

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venture fund

The Venture Fund provides equity investments of up to £3m