Manchester-based hospitality recruitment firm Hesketh James has secured a £90k investment to fund expansion plans from Business Finance Solutions (BFS), the finance arm of The Growth Company and lending partner of the Greater Manchester Combined Authority.
BFS jointly manages the £10m NPIF – BFS & MSIF Microfinance part of the Northern Powerhouse Investment Fund with MSIF which provides loans between £25k and £100k to SMEs across the North West and has delivered its 100th deal this month. BFS is also the North West delivery partner of the government’s national £310m Start Up Loans programme.
Hesketh James was founded earlier this year by senior partners Toby Holt and Amanda Hesketh who have over 30 years’ experience working within the hospitality and recruitment sectors. The firm delivers both permanent and temporary roles as well as offering a unique consultancy service, working as a partner for companies who require HR and recruitment training and delivery support.
The £40k funding from Start Up Loans and £50k investment from the Northern Powerhouse Investment Fund will now be used to create seven new jobs and to invest in improved IT and marketing. This will enable Hesketh James to expand and develop its services, both in the North West and across the UK, including a recently launched accountancy and finance recruitment practice.
With a full-time team of five already in place, the business is working with a growing number of NW and national clients including Luxury Family Hotels, Fiveways Hospitality and Manchester Central.
Toby Holt said: “The hospitality industry demands the very highest levels of customer care and this funding from BFS means that we can bring our expertise and experience in this rapidly growing sector to develop and deliver the next generation of managers, leaders and candidates at all levels.”
Andy Nichols at BFS, said: “Amanda and Toby have created a business that brings together their unique insight into the hospitality sector in the North West, an industry that is thriving across the region.
“They needed a finance partner that would help them to grow in response to market demand and we were able to do just that with funding from both the Start Up Loans programme and the Northern Powerhouse Investment Fund that will equip them to continue to expand, both here in the North West and across the UK.”
Ken Cooper, Managing Director at British Business Bank, said: “The Northern Powerhouse Investment Fund has provided vital funding to a number of high growth businesses in Greater Manchester, owing to the support presented by our fund managers. We look forward to continue this pace as our fund managers continue to seek further investments in the area.”
Mike Blackburn, chairman of the Greater Manchester Local Enterprise Partnership board, said: “This investment supports the creation of new jobs and will increase the growth potential of a start-up business serving an important sector within the Greater Manchester economy.
“It is a great example of an entrepreneurial business being given the financial support it needs to achieve its ambitions, in turn unlocking further economic growth and employment opportunities for Greater Manchester.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
Photo Caption: Toby Holt, Amanda Hesketh and a member of the team
The MSIF group of funds are managed by Alliance Fund Managers Limited which is regulated by the Financial Conduct Authority in the course of investment business. Financial Conduct Authority Registration Number is 180891.
BFS Funding Managers Limited is regulated by the Financial Conduct Authority as a Small Authorised UK AIFM under firm reference number 608682.