Business owners and entrepreneurs in Lancashire are being urged to make the most of a fully-funded service which gives them access to a team of finance experts to help them become investment-ready, source and secure growth finance.
Access to Finance, which is part of Boost; Lancashire’s Business Growth Hub, offers fully funded, one-to-one support to ambitious Lancashire-based businesses through a team of five Lancashire-based advisers who will work with them to improve their financial planning, advise on the most appropriate type of growth finance, prepare funding applications and liaise directly with investors and lenders through the application process.
The team includes former bank managers, business owners, and equity advisers with a combined experience of over 140 years across the business finance industry.
Boost’s current programme, which is funded by Lancashire County Council alongside the UK Shared Prosperity Fund (UKSPF) allocations of 10 of Lancashire’s local authorities, is currently due to end in March 2025 and businesses are being reminded to make the most of the service to support their growth ambitions.
Mark Gibbons, lead adviser at Access to Finance, said: “Recent analysis from the British Business Bank shows that external finance is on the rise among businesses both regionally and across the UK.
“We are seeing an increase in demand for finance support which is why we have invested in our team in recent months. We have five experts who can advise businesses across the full range of finance options, making sure they receive the best possible support every time they contact Boost.
“Our specialist team can help businesses of all sizes to ensure you have the correct finance in place. Get in touch to understand how our experts can support your growth ambitions.”
Access to Finance is managed by Lancashire County Council as part of Boost. Boost is funded by Lancashire County Council, the Department for Business & Trade (DBT), and UK Shared Prosperity Fund (UKSPF) allocations from ten Lancashire partner local authorities.
Businesses in Boost’s local authority partner districts can access the Access to Finance service: Blackburn with Darwen Council, Burnley Council, Chorley Council, Fylde Council, Hyndburn Borough Council, Pendle Borough Council, Preston City Council, South Ribble Borough Council, West Lancashire Borough Council and Wyre Council.
The team has expertise in supporting businesses on a range of growth strategies including gaining equity investment, supporting an acquisition, trading internationally, expanding physical space, or developing a new product or service.
Earlier this year, Access to Finance appointed two new specialist advisers, meaning the service can offer a complete range of corporate finance expertise.
Warren Lunt was appointed as business adviser - equity specialist, bringing over 15 years’ experience as both an investment adviser and business owner, having founded and grown several companies of his own, including through equity finance.
Firoza Ismail was also appointed as adviser. She has over 20 years’ experience advising businesses on behalf of companies including TSB, HSBC, Habib Bank, and Al Rayan. Her expertise also includes Islamic finance.
They join Iain Duncan, who has nearly 40 years’ experience in the banking industry and Amanda Farrington who has over 15 years in a variety of finance roles.
Lead adviser Mark Gibbons has over 15 years of commercial lending experience supporting SMEs ranging from startup funding to asset-based working capital facilities and equity investment.
In addition to one-to-one support, the service operates an Investment Academy programme, which is delivered by the Access to Finance team alongside private sector partners. The programme is designed to help businesses understand the process of an equity raise. Expressions of interest for upcoming cohorts of the Investment Academy can be accessed via the Access to Finance website.
County Councillor Aidy Riggott, cabinet member for economic development and growth at Lancashire County Council at Lancashire County Council, said: “Lancashire businesses have historically accessed less growth funding than companies in other areas in the UK and as part of our objective to increase local wealth and employment, improving access to this growth finance is a key goal for Lancashire County Council.
“When a business secures finance to grow, it is not just the individual business that benefits but our entire economy and that is why we have provided funding specifically for the Access to Finance service via Boost. We would encourage business owners to take advantage of this funded service while it’s still available.”
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