Member Article

Recession help for North East SMEs

An organisation supporting businesses and individuals in the North East has welcomed the latest £10m investment from One North East.

Entrust believes that the funding will play a “vital role” in helping hundreds of North East firms to survive during the economic slowdown.

The money will double the annual support of Entrust’s Company Rescue Service, Pathfinder, to £500,000, to help firms struggling with cash flow issues. In the last 2 years, the service has helped to save 51 companies, 1,222 jobs and over £76 million in turnover. This has also enabled the creation of 46 new jobs and over £6 million in new turnover.

Dan Brophy, CEO at Entrust said: “Pathfinder is a vital and extremely successful service. It is very deserving of this boost and we are delighted that we will be able to help save even more SMEs going forward. Sadly, in the current economic climate an increasing number of North East businesses are looking for ways to survive, Pathfinder can support and enable their survival by providing the management team with an external perspective, and presenting an honest view of the company’s financial position.”

To discuss your concerns in confidence email Rick Charnley on r.charnley@entrust.co.uk or for further information on the Pathfinder programme or Service Network Conference please contact Entrust on 0191 2444000 or www.entrust.co.uk

This was posted in Bdaily's Members' News section by Ruth Mitchell .