A Huddersfield-based company which specialises in indoor golf technology has entered the UAE market after it secured a finance package worth £75,000.
MIA Sports specialises in the design, supply and installation of golf simulators and teaching studios. Founded 10 years ago, their products have been adopted as an integral training tool at golf facilities in the UK, Europe, and East Asia.
MIA Sports has now begun exporting to the United Arab Emirates with the support of UK Export Finance (UKEF), the government export credit agency.
Faced with the opportunity of supplying its technology to Dubai, MIA Sports had to provide financial guarantees which would have restricted its cashflow – a catch-22 situation. They approached UKEF, who worked with HSBC UK to arrange a finance package for the amount of £75k.
This was supported by a government guarantee provided through UKEF’s General Export Facility (GEF), a product specifically tailored to enable SMEs to scale up their exports by giving banks the confidence to lend.
The finance package, provided by HSBC UK and guaranteed by UKEF, gave MIA Sports the confidence to secure the Dubai contract. This comprised the supply and installation of 5 teaching studio bays for a new academy at the Emirates Golf Club, home to the Dubai Desert Classic tournament.
Andrew Keast, Managing Director at MIA Sports, said: “Breaking into the UAE market was a major opportunity for us. Thanks to UKEF and HSBC UK’s support, we were able to access the finance required to bring our technology to a fast-rising capital in the world of golf.”
Alissia Deane, Export Finance Manager for West Yorkshire, said: “This deal demonstrates how we’re helping Yorkshire businesses reach their export potential. By working closely with HSBC UK, we’ve enabled MIA Sports to bring their innovative golf technology to Dubai’s growing sports market.”
Andy Booth, International Business Manager at HSBC UK, said: “Working alongside UKEF, we’re committed to helping innovative British businesses like MIA Sports expand internationally. This showcases how effective partnership between banking and government support can boost UK exports.”
