County fund investment

Rosebud Finance, which provides growth funding for Lancashire businesses, invested over £2m in 16 firms in the year to the end of March 2015 – up 25 per cent on the previous year and its highest ever amount.

By The Newsroom
Tuesday, 21st April 2015, 3:55 pm
Paul Taberner of Enterprise Ventures
Paul Taberner of Enterprise Ventures

The Rosebud funding helped the companies to secure a further £2.3m in finance from other sources. The investment is expected to create 126 new jobs in Lancashire in the next three to five years.

Rosebud provides loan and equity finance for businesses in growth sectors such as aerospace and advanced manufacturing, creative and digital, energy and environmental technology, and financial and professional services.

It is managed by Enterprise Ventures, on behalf of Lancashire County Developments Ltd (LCDL) – the county council’s economic development company.

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Andy Walker, Lancashire County Council’s head of business growth, said: “We’re pleased that Rosebud has been helping businesses to unlock other sources of funding.

“As well as finance, Rosebud also helps you to find the right advice and support that you need to develop your business. Over the past 12 months, we’ve been able to support businesses across our key sectors and in various parts of the county, which has directly helped to safeguard existing jobs and create new ones here in Lancashire.”

Paul Taberner, of Enterprise Ventures, said: “The funding landscape has changed dramatically in recent years.

“Rosebud is playing a strategic role in helping Lancashire SMEs access finance for growth.

“Not only does it providing direct investment but it also helps them unlock other sources of finance, as many banks and finance providers are reluctant to invest alone.”