Member Article

Lancashire businesses encouraged to seize investment opportunity

Lancashire businesses must seize the opportunity to grow or risk being left behind the rest of the region, says Andy Leach from BusinessFinance, managers of The North West Fund.

Andy’s message comes prior to The North West Fund’s ‘Inspiring Entrepreneurs’ event, which is being held in partnership with the Lancashire Institute of Directors.

At the event, Guy Cookson, founder and managing director of Lancaster software house, Azullo, will discuss the growth story of his business and his two successful pitches for investment from The North West Fund for Digital and Creative.

Also taking to the podium is Tony Attard OBE, founder and Group Chief Executive of Burnley flame retardant fabrics designer and manufacturer, Panaz, who will provide insight into equity and finance.

Statistics from The North West Fund show that Lancashire is lagging behind Greater Manchester, Merseyside and Cheshire by number and value of investment secured.

Of the 95 investments made since its launch, The North West Fund has made 17 investments in Lancashire businesses, with an aggregate value of just over £4.5m.

Mr Leach said: “Lancashire is a county with a rich business heritage and a vital part of the North West economy.

“However, given its size and significance, it is surprising that a small proportion of investments are in the county.

“We have £185m that must be invested before January 2016, so it really is a case of use it or lose it.”

The Inspiring Entrepreneurs event in Preston takes place on Tuesday June 26 at the Barton Grange Hotel.

This was posted in Bdaily's Members' News section by Tom Keighley .