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Jun 2023
Business Breakfast: £660m investment fund to be launched
Staff well-being and culture have rapidly risen up the priority list for many employers. At the next Stray Ferret Business Club we’ll hear from award winning employer, LCF Law, on how organisations can ensure their teams are productive and happy.
The lunch event is lunch at Manahatta, on June 29th at 12.30pm. Get your tickets by clicking or tapping here.
A £660 million investment fund to support the growth of small and medium-sized businesses in northern England is set to be launched early next year.
The Northern Powerhouse Investment Fund II will offer a range of commercial finance options with loans from £25,000 to £2 million and equity investment up to £5 million.
The fund, which is being launched by the British Business Bank will address a funding gap in the north and increase the supply and diversity of early-stage finance for smaller businesses.
Ken Cooper, managing director of venture solutions at the British Business Bank, said the launch of the fund "will further increase the supply and diversity of early-stage finance for smaller businesses in the region, providing finance for firms that might otherwise not receive investment and helping to break down barriers in access to finance".
Mr Cooper added:
“We know that the levels of private debt lending and equity investment in the north of England remain below expectations given the region’s share of the UK’s smaller business population and that is something this next generation of the fund will continue to address by backing ambitious businesses that will drive sustainable economic growth.”
The fund will operate across three tiers: smaller loans (£25,000 to £100,000), debt (£100,000 to £2 million) and equity (up to £5 million).
Transdev offers free military bus travel
Bus operator Transdev, which includes the Harrogate Bus Company, is offering free travel for Yorkshire’s serving military and veterans on Armed Forces Day on Saturday.
All journeys on the bus firm’s network will be free throughout the day to current forces personnel, cadet volunteers and veterans from the Army, Royal Navy and Royal Air Force.
Armed Forces Day in June each year salutes the service of men and women in the military.
Those eligible must show a forces ID card, wear their uniform or display their medals.
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