IG members urged to approach Hays Travel for funding aid to expand

Hays Travel Independence Group members struggling to invest in their businesses due to financial constraints are being encouraged to put in funding bids to Hays Travel and not “suffer in silence”.

Hays Travel bosses told IG agents at this year’s UK conference in Chester they could offer members a quick and easy way to secure interest free loans to fulfil growth plans, ease cash flow or try out new initiatives, rather than having to approach banks for funding.

The group has already given out around £11.7 million in loans to members in the last year but said many members were still not aware of the help available to open new high-street streets, pay for refurbishments, launch disruptive marketing campaigns or expand into new markets.

Chief operating officer Jonathon Woodall-Johnston said the company was keen to share some of its available resources and “take advantage of the strength of the Hays Travel balance sheet” to help members achieve their aims. Business plans are assessed on a case by case basis, with an average approval time of seven days.

“I would encourage members to come forward with ideas. We want to support you strategically; your success is as much Hays Travel’s success,” he said, insisting: “Don’t feel like you are on your own and don’t suffer in silence; we don’t judge and we always support where we can.”

He stressed confidential support was available to all IG members under its partnership for profit scheme, and highlighted the importance of investment to ensure long-term growth and future-proof members’ businesses.

He added: “The challenges around investment in IG have been unlocking that growth. We understand that every business is different, and flexible finance options are key to make sure the investment is there.”

He urged businesses not to be “put off by the financial outlay” of future plans and consider the benefits the changes could bring by fostering a partnership approach with Hays Travel.

Businesses which have already taken advantage of the funding opportunities include Mel’s Travel, which wanted help to open shops on the high street, and Viva Holidays, which wanted to sell its Viva Cruise brand to the US market.

Mel’s Travel owner Mel Robson, who opened a second store in January, said: “Jonathon listened to my ideas and gave me advice. I opened my first shop during the pandemic after I reached out to Jonathon. My advice is to reach out to Hays and try it; you don’t know until you try.”

Shubhang Gupta, director, of Viva Holidays, said: “We didn’t know [initially] that we could get money from Hays. Our goal was not to be reliant on one market and derisk our business. We thought the US would replace 30% of our [UK] bookings and we have achieved that.”

Hays Travel owner Irene Hays said helping IG firms in this way was important. “It’s the right thing to do rather than having the money sitting in a bank account,” she said, “We are more sympathetic [than banks] because we understand the seasonality of travel businesses.”