finance for growth bury breakfast
TRANSCRIPT
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Finance for Growth Breakfast: Bury
Elizabethan Suite, Bury Town Hall
Tuesday 3rd February 2015
08:30 – 10:00
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• 08:30 Welcome – Councillor Mike Connolly, Leader, Bury Council
• 08:40 Access to Finance offering – Alan Bambroffe, Access to
Finance Specialist, Access to Finance
• 08:55 Co-Investment Fund – Hilary Centeleghe, Senior Growth
Manager, Business Growth Hub
• 09:10 Guest Speaker – Anita Kirkman, Finance Director,
The Bury Black Pudding Company
• 09:25 Panel Q&A
• 09:40 Closing remarks – Mike Kelly, Chief Executive, Bury Council
Networking
• 10:00 Event close
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Welcome
Councillor Mike Connolly
Leader
Bury Council
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Access to Finance Northwest
Alan J Bambroffe
A2F Specialist
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Why is there an Access To Finance Service?
• Market Failures• Knowledge Gap• Variety Funding sources• Entry Criteria• Application Processes• Resource Gap (Internal & External)
www.a2fnw.co.uk
• Low Investment Readiness• Failure to attract investment
2008 - 2011
Business Link
2011 – Present
Manchester Solutions Group
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Access To Finance – What We Do‘Matching Businesses with Finance’
www.a2fnw.co.uk
• Ensure viable Northwest based SME’s are investment ready
• Support the process of obtaining appropriate funding
UNIQUE SELLING POINTS:
• Impartial• Independent• Credible/Experienced/Knowledgeable Team• Complimentary• Free to access
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Access To Finance – Types Of Funding
DEBT EQUITY SPECIALIST
• Bank Loans• Bank Overdrafts• Enterprise Finance Guarantee• Commercial Mortgages• Public sector loan funds• Private sector loan funds
• Business Angel Finance• Venture Capital• Private Equity
• Grants • Asset Finance• Trade Finance• Invoice Finance• Bridging Finance• Social Enterprise Funds• Peer Lending (Crowd Funding)
www.a2fnw.co.uk
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Access To Finance – Client Benefits
Single point of contact for:
• Fundraising support and guidance
• Discussing the wide variety of funding types
• Accessing the wide variety of funders
• Independent and Impartial advice
www.a2fnw.co.uk
Viable Business (with
the correct information)
The right funder(s)
Business Success
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Access To Finance – How We Do It
www.a2fnw.co.uk
Review financial performance
Discuss business plan & forecasts
Research finance products
& providers
Instigate introductions
Support investment
process
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Access To Finance – What We Don’t Do!
Write business plans & forecasts
Compete with private sector deliverers of financial support
Deliver grant funding
Charge fees and / or receive introductory commissions
Work outside of ERDF Restrictions
www.a2fnw.co.uk
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Access To Finance Team
www.a2fnw.co.uk
Phil Hargreaves
Manager
Ian Dixon
Team Leader
GREATER MANCHESTER
(8 Specialists)
CHESHIRE
(1 Specialist)
LANCASHIRE
(4 Specialists)
CUMBRIA
(1 Specialist)
Nathan Leah
Team Support Co-Ordinator
Emily Harrison
Compliance Specialist
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Hilary Centeleghe
Senior Growth Manager
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Co-Investment Fund
The Co-Investment fund is a match funded programme, offering financial
support to a wide range of eligible projects
• Maximum project size is £6000 (minimum £2000)
• The maximum level of support available is 50%
• Therefore Project funding will range from a minimum of £1000 up to a maximum
of £3000
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Co-Investment Fund
The Co-Investment fund is a match funded programme, offering financial
support to a wide range of eligible projects
• The main aims of the projects are to stimulate growth, introduce new products
and services
• And the outputs of each project must be to create and safeguard jobs,
• Ultimately aim is to drive economic growth for the region
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Co-Investment Funding Project Scope
Digital:• VOIP
• Video Conferencing
• CRM
• Digital Project Management
• Training
• Quality and Standards
• Product Development
• Product Optimisation
• E-Commerce
Growth:• Business Development and
Strategy
• Operational planning
• Sales and Marketing
• HR reviews and change
management
• ISO Consultancy
• Innovation
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Co-Investment Funding Project Eligibility
• Location - Greater Manchester
• Sector - ERDF eligibility
- Restricted Sectors – retail, steel, education etc.
• SME - less than 250 Employees,
- less than €50m T/O or €43m Balance Sheet
• State Aid - Max €200,000 over a rolling 3 years
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Co-Investment Fund Process
• Define the project Specification (full support on paperwork by
advisor)
• Request to quote (3 quotes)
• Responses (Quick turn-around)
• Selection by the business
• Value for Money / Fit for Purpose (not necessarily price)
• Project Completion
• Audit trail to demonstrate compliance
• Invoice to be succinct and describe the activity as per the spec.
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Co-Investment Fund - Contact us to find out more:
Phone: 0161 359 3050
Email: [email protected]
www.businessgrowthhub.com
@bizgrowthhub
Business Growth Hub
+Businessgrowthhub
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• Tracy Eyres – Business Growth Advisor Bury
• Free business diagnostic service for companies
• Help develop a realistic and sustainable business plan
• Improvement/growth action plan
• Free of charge to SME’s
• Service not available to those who have been successful in Co-
investment fund application
• Support is available in tandem with Innovation Voucher
Email: [email protected]
Tel: 07764 983 761
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Anita Kirkman
Finance Director
The Bury Black Pudding Company
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Panel Q&A
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Closing remarks
Mike Kelly
Chief Executive
Bury Council
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Bury Gets Digital
Longfield Suite, Prestwich
Thursday 26th February 2015
17:00 – 20:15
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Contact us to find out more:
Phone: 0161 359 3050
Email: [email protected]
www.businessgrowthhub.com
@bizgrowthhub
Business Growth Hub
+Businessgrowthhub