Hughens XP
One of the loans which helped Business Finance Solutions reach a historic £2.5 million lending landmark went to Evariste Hughes Bekangba from Levenshulme, Manchester.
Evariste spotted a unique opportunity to trade in second-hand trucks, but a lack of investment almost put the brakes on his business plans. However, with a little help from Business Finance Solutions, his company Hughens XP, is now on the road to success.
Based in Manchester, the company buys second handtrucks and lorries in the UK and sells them in central-African countries such as Chad, Congo and Cameroon. Evariste identified the business opportunity whilst managing a distribution centre supplying parts to the car industry. During frequent business trips to Africa, he saw a huge market for secondhand vehicles. With central-African countries being landlocked, most merchandise is transported by truck over very long distances; the nearest port to Chad is over 1000 miles away. However, despite a strong demand for second-hand trucks, they remain much cheaper to purchase in UK than in many African countries.
The business was registered in June 2003 but, despite already having a contract from a company in Congo, lack of capital was proving a barrier to trading. With a loan from Business Finance Solutions, Evariste was able to buy the first truck and pay for its transportation to Congo. Further orders quickly followed and Hughens XP was born.
Due to the success of the truck dealing, Hughens XP has already begun to branch out into other areas of trade. Secondhand truck parts are another sought-after commodity in central-Africa and Hughens XP is in high demand due to the speed at which the parts can be supplied. Taking only five to eight weeks to complete an order, the company compares favourably to international parts suppliers who deliver parts within an average of twenty weeks.
On his success Evariste said:
"The business has gone from strength to strength in a very short period of time but without the investment from Business Finance Solutions I could never have got it off the ground. The sale of truck parts in particular has taken off and I am incredibly pleased with the return. I always have my eyes open for new trade opportunities and now the business is underway and trading well, I have the money to invest in these new ideas. In July 2006 I secured the distribution licence from Inbev to export German beers, such as Becks, Stella Artois and Lowenbrau to Central Africa. The first shipment is due to reach Chad in mid-September. I am very excited that I can bring these products to a new market place."
Bob Marchant, (then) Manager at Business Finance Solutions (then The Enterprise Fund) said:
"Setting up an export business can be a very difficult task. Small businesses and entrepreneurs often find themselves in a position where, although they may have spotted an untapped trading market and have a solid business plan, they lack the investment to get the business started.
When Evariste approached The Enterprise Fund, we could see he had certainly found an 'untapped market'. With his unrivalled contacts in central Africa, he has been able to exploit unique business opportunities and we wish him every success with his existing and future ventures."