Page 3 – Northern Powerhouse Investment Fund

Growth at Cobalt Systems leads to new premises

Leading barcode labelling automation manufacturer, Cobalt Systems, has relocated to new premises in Wardle, Cheshire as part of its growth strategy.

The move supports the firm’s growth ambitions over the next 5 years. Investment support has been provided by NPIF-FW Capital Debt Finance which is managed by FW Capital and is part of the Northern Powerhouse Investment Fund.

Established in 1997, Cobalt Systems is a British manufacturer renowned for its packaging innovation and barcoding automation. The business was previously located in Crewe, Cheshire and has relocated to a larger site on Cheshire Green Industrial Park in Wardle which has been fully fitted out to meet the manufacturing demands of the business. The new premises include a new Visitor Centre and Demonstration Suite. This is a unique offering that gives customers and prospects an insight into Cobalt Systems’ print and apply labelling manufacturing capabilities, showcasing their latest technology and engineering excellence.

Tony Hunt, Managing Director at Cobalt Systems said: “The business has been enjoying significant growth, reporting a 21% increase in our workforce which is still growing as we are currently recruiting for new team members. We operate with international partners and manage projects across the UK, Europe and worldwide. Our export business is an area we are looking to expand and our new premises and the ability to bring in house the CNC component manufacturing will support this.

The funding from FW Capital has assisted our relocation and new job creation plans. We’ve partly funded the move and the combination of this with NPIF’s backing has meant we could relocate to a much bigger facility that is nearly four times bigger than our previous one. It allows us to increase our manufacturing capabilities and deliver a stronger level of support for our partners and distributors. The benefits for Cobalt Systems and our customers are huge. It means reduced lead times from order to delivery, significantly improved manufacturing efficiency, cost and time effective bespoke component production and an increase in the company profitability. The support from Carol Bolland at FW Capital has been excellent. Carol completely understood what we required and acted quickly to structure the right level of funding.”

Carol Bolland, Investment Executive at FW Capital added: “Cobalt Systems is an impressive business and needed to move to larger premises because the previous building was limiting their growth plans. The ability to manufacture CNC components in house is a great step forward and will enhance the support provided to their customers as well as bringing new jobs to the local area. I’m thrilled to be supporting Tony and the team at this exciting stage of their business growth.”

Keira Shepperson, Director at the British Business Bank said: “As Cobalt Systems forges ahead in growth, its relocation and expanded site signifies its entrance to a new phase in its development journey. We’re looking forward to seeing what the business achieves next and how its growth can help the local economy. The Northern Powerhouse Investment Fund remains dedicated to helping businesses like Cobalt Systems thrive by providing the right finance at the right time, and it’s a pursuit we’ll be continuing with the upcoming launch of NPIF II.”

The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.

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.

FW Capital Limited is regulated by the Financial Conduct Authority as a small authorised UK Alternative Investment Fund Manager under firm reference number 506719.

Editors Notes

Funding boost for Lancashire decking and fencing specialist

A decking and fencing specialist is focused on expansion to meet increased demand after experiencing 40% year on year growth.

Lancashire-based Lakeland Verandahs has received a six-figure investment funding from NPIF – FW Capital Debt Finance, which is managed by FW Capital and is part of the Northern Powerhouse Investment Fund. This is supporting new product development and growth which includes the launch of a new solid deck board range and associated products which include high-end quality pergolas, gazebos and garden office rooms and offices.

Lakeland Verandahs is a leading UK UPVC decking, fencing and balustrade installer with showrooms in Preston, Nantwich, and Warrington. The Lakeland Verandahs range is one of the leading decking products on the market, offering a low maintenance solution. Established in 2008, the business has experienced an impressive 40% year on year growth since inception. The latest development of the exclusive and high-end deck board range and associated products is another step forward for the growth of the business.

Russell Milburn, Founder at Lakeland Verandahs said: “Our focus is primarily aimed at the residential market and we’ve expanded our range to meet increased customer demand. We saw a significant increase in sales during Covid, which is now starting to level out again but we’re still experiencing solid growth as people are still investing in their homes and gardens. We’re looking to the future and excited to grow the business further with the launch of our new exclusive solid deck board product range in January.

“The backing from FW Capital has been key in helping us with this product development and supporting our marketing activities. It has also helped us to confidently expand our team to support our sales activities with the appointment of a new Commercial Director and sale support team. It’s been a pleasure working with Andy Traynor at FW Capital who was introduced to us by Mickey Wong at ABL Business Finance.”

Andy Traynor, Senior Investment Executive at FW Capital added: “This is a fantastic opportunity to support a long-standing business within the region. The working capital is helping Lakeland Verandahs to continue their impressive growth strategy and enhance its current offering.”

Debbie Sorby, Senior Manager at the British Business Bank said: “Lakeland Verandahs’ dedication to quality and innovation sets a sterling example in the industry. This Lancashire-based business has seen incredible growth, and its commitment to further development makes it clear that the business’ trajectory mirrors the strength and dynamism of the Northern Powerhouse. We’re looking forward to supporting the business as it embarks on this next phase of growth in its journey.”

The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.

FW Capital Limited is regulated by the Financial Conduct Authority as a small authorised UK Alternative Investment Fund Manager under firm reference number 506719.

Editors Notes

Geospatial firm raises £600k to create ‘eye in the sky’ for utility companies

A Liverpool company whose geospatial software helps utility firms to map the location of pipelines and infrastructure and keep services up and running has raised £600,000 from NPIF – Mercia Equity Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund.

Mobile GIS Services (MGISS) uses satellite data and mapping technologies to help operators manage their assets more effectively. Its systems identify potential risks, such as construction work taking place close to underground cables or power lines, and can be used when planning new projects, to ensure the work does not affect existing infrastructure.

The funding will support the development of a new and more powerful system that MGISS is working on with the European Space Agency (ESA). It will use high-resolution satellite images provided by the ESA to create an ‘eye in the sky’, enabling utility firms worldwide to oversee key locations while cutting carbon emissions by reducing or removing the need for helicopters ‘fly overs’.

MGISS, which employs 14 staff, expects to create 11 new jobs in the year ahead as a result of the investment. The latest investment follows three years of growth for the company, during which time it has increased annual recurring revenue by over 300 per cent.

Current clients include Northumbrian Water Group, Wales and West Utilities and Severn Trent Water, construction firms such as Galliford Try, and bodies such as the National Trust which uses its systems to map heritage sites and South West Peatland Partnership which uses them to monitor conservation work.

Mercia first backed the company’s CEO Mike Darracott, a geospatial specialist, in 2014 through another of its funds under management, the North West Fund for Venture Capital, to enable him to set up a consultancy business.

Mike Darracott said: “Supply interruptions cost utility companies billions of pounds each year, not only in trying to repair and restore supplies but also paying compensation to customers. Construction work is a key cause of disruption and the situation is likely to get worse in the future if planning laws are relaxed. Our systems help them make the most of the available data and take a pro-active approach to identifying and tackling potential hazards. The new system will be the most powerful to date and could help companies to dramatically reduce downtime, regulatory fines and their environmental impact.”

Rob Hornby of Mercia said: “MGISS has successfully pivoted from being a consultancy firm to a software business and achieved impressive growth in recent years. The company addresses a key concern for utility providers. We are pleased to support the development of this new solution which we believe will have a huge global market.”

Keira Shepperson, Director at British Business Bank, said: “Investment into technology is crucial in creating a hub of innovation and excellence across the North. Working with the European Space Agency, the work of MGISS goes beyond its Liverpool base, demonstrating the reach of NPIF beyond just its geography. We look forward to supporting the business as it continues to grow.”

The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.

Enterprise Ventures Limited is authorised and regulated by the Financial Conduct Authority (FRN: 183363). EV Business Loans Limited is authorised and regulated by the Financial Conduct Authority (FRN: 443560).

Editors Notes

The Gluten Free Kitchen invests in future growth

The success story of North Yorkshire business The Gluten Free Kitchen has been boosted by new investment as demand soars for its range of high-quality gluten and ‘free-from’ food.

NPIF – FW Capital Debt Finance, which is managed by FW Capital and is part of the Northern Powerhouse Investment Fund has provided a six-figure loan to assist The Gluten Free Kitchen with its growth and the creation of five new jobs.

The business was established in 2005 by Sue Fleming after she saw the challenges faced by people with coeliac disease when sourcing good quality food that is free from gluten. Sue began to experiment with a series of recipes and created dishes which are today available from The Gluten Free Kitchen’s online store. A selection of products are also available in a selected number of Waitrose Stores, online at Ocado, as well as independent outlets and farm shops throughout the UK. The product range includes ‘free from’ cakes, puddings, and savoury pies.

Sue’s Gluten Free Kitchen started in the village of Aysgarth in North Yorkshire and moved to larger production facilities and a retail outlet in Leyburn. The business plan to move to larger premises in the Leyburn Business Park to accommodate the increased demand.

Sue Fleming, Director at The Gluten Free Kitchen said: “Our ‘free from’ ethos is centred around flavour and quality. I’m proud to have created a delicious range of foods that doesn’t compromise on flavour. The increased demand for our product ranges means we need more staff who will also be part of our expansion journey into larger premises. We’re fit for bursting at the moment and are excited to be creating more jobs. Without the support of Keith at FW Capital we wouldn’t be able to do this.”

Keith Charlton, Fund Manager at FW Capital added: “Sue’s passion for the business is evident and she has created a successful and innovative brand which provides consumers with gluten intolerance with a wide variety of choice. The Gluten Free Kitchen is today a prominent brand serving the UK coeliac community. With demand for ‘free from’ products rising, Sue needed further working capital to support the creation of new jobs and the expansion of the business. I’m thrilled to be part of this and help The Gluten Free Kitchen with their next stage of development.”

FW Capital was introduced to Sue at The Gluten Free Kitchen by Barry Gill at TIG Corporate Finance and consultant Karen Wyndham-Webb.

NPIF – FW Capital Debt Finance is managed by FW Capital and part of the Northern Powerhouse Investment Fund. It can provide loans in the NPIF region with a focus on Cumbria, Cheshire, Greater Manchester, Lancashire, Merseyside and the Tees Valley.

The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.

FW Capital Limited is regulated by the Financial Conduct Authority as a small authorised UK Alternative Investment Fund Manager under firm reference number 506719.

Editors Notes

Andel Ltd invests in a greener future

Environmental sustainability is high on the agenda for Barnsley firm Andel Ltd, after making a significant investment to make its operations greener as it focuses on future growth.

The Dodworth–headquartered firm has secured a second round of financial backing from NPIF – FW Capital Debt Finance, which is managed by FW Capital and is part of the Northern Powerhouse Investment. The six–figure investment is supporting Andel’s growth strategy which includes its journey to net zero. It has introduced several green initiatives, including replacing its fleet of vehicles with electric cars, installing EV chargers at its head office for all staff, reducing its fossil fuel derived gas and electricity usage by 100%, and creating a wildflower meadow at its head office.

Founded in 1992, Andel has steadily grown to become one of the global market leaders in the design, development and application of specialist leak detection, water sustainability, flood defence and environmental protection systems. Based in Barnsley, Andel has operatives throughout the UK and subsidiaries in The Netherlands and Romania.

Mark Harris, Commercial Director at Andel said: “In 2020 we made a pledge to become Net Zero by 2025 and we’re well on our way to achieving this. Andel has gained an enviable reputation in our field for innovation and cutting-edge research and development. We’d like to compliment this by showing how important environmental sustainability is to us and do what we can to reduce energy consumption and waste. Throughout our journey we have been supported by Lindsey McMenamin and the team at FW Capital who have understood our ambitions and provided funding to help with the growth of the business. Sustainability is a key part of Andel, but with it comes short-term challenges and costs. The support from FW Capital has helped enormously, giving us a degree of financial flexibility, and allowing us to focus our efforts on future proving the business.”

Lindsey McMenamin, Portfolio Manager at FW Capital added: “Andel has made some important and impressive changes to their business. They have demonstrated a strong environmental commitment and I’m pleased to support them on their journey to becoming net zero. Being able to work with businesses like Andel who are championing green operations is extremely rewarding and is aligned with NPIF and FW Capital’s ongoing commitment to investment in sustainable businesses in the regions it operates. Their efforts have also been recognised recently at the Barnsley and Rotherham Business Awards 2023 where they won the Sustainability Award.”

The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.

FW Capital Limited is regulated by the Financial Conduct Authority as a small authorised UK Alternative Investment Fund Manager under firm reference number 506719.

Editors Notes

Leeds marketing agency secures six funding to assist growth

Leeds-based digital marketing agency Present Works is creating new jobs and expanding its services after receiving a six-figure funding investment.

Founded in 2018 by Brett Jacob and Peter Lowes, Present Works is a Business-to-Business communication specialist, delivering a wide range of marketing and media solutions to a range of clients. The investment to support its growth has been provided from NPIF – FW Capital Debt Finance, which is managed by FW Capital and is part of the Northern Powerhouse Investment Fund. This is the second round of investment secured from the Fund after Present Works received £100,000 in growth capital investment to fund a move to larger premises and create new jobs in Leeds in 2020.

This latest round of funding is helping to create two jobs and develop a new performance marketing service for the agency’s client base. This will enable clients to track and evaluate the effectiveness of their marketing activities.

Brett Jacob, Founder and Managing Director at Present Works said: “FW Capital have supported Present Works from our early days. Their financial and professional support have assisted in the development and broadening of our B2B marketing offer to our client base. We are excited for our plans for next year and beyond and grateful to FW Capital for their continued backing and belief in our business.’

Dave Hawkins Portfolio Executive at FW Capital said: “Present Works has a dynamic management team who are focused on driving forward the business and providing exceptional creative and digital marketing services to their impressive list of clients. I’m delighted to see the progress the business has made since the first round of funding from FW Capital and excited to continue to support their growth journey.”

The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.

FW Capital Limited is regulated by the Financial Conduct Authority as a small authorised UK Alternative Investment Fund Manager under firm reference number 506719.

Editors Notes

Growth continues for Chorley firm Dreamtex

A Lancashire business is focused on fast growth after securing investment from NPIF – FW Capital Debt Finance which is managed by FW Capital and is part of the Northern Powerhouse Investment Fund.

Dreamtex, a Chorley supplier of children’s bedding products, works with brands such as Xbox, Bluey, Jurassic World, Gabby’s Dollhouse and Disney, and is growing the business with the backing of the investment which is supporting the development of a range of new products and licences.

The company, which employs 11 people at its Chorley base, was established in July 2012 by Anthony Duckworth, Andrew Downie, and Jo Duckworth. Dreamtex agrees licences for its products with a wide range of children’s brands before they are manufactured abroad and delivered to retailers including Smyths, Amazon, Asda, Sainsbury’s, Next and Argos.

Dreamtex is the holder of a series of industry awards and is a Guinness World Record Holder alongside DHX brands after manufacturing the world’s largest polar fleece blanket featuring In the Night Garden character Iggle Piggle.

Last year, the company launched Dreamtex Earth, an in-house sustainability project featuring Better Cotton Initiative sourced cotton for popular brands Bluey, Xbox and Among Us in retailers such as Next, Asda, Tesco and Argos.

Anthony Duckworth, Managing Director at Dreamtex explains how the funding is driving future growth: “We’re very excited for the future and this investment is helping us to extend our product range and introduce new licence agreements. The working capital gives us the platform to drive investment in new stock which will in turn support our retail partners and the end consumer.

“I was introduced to Andy Traynor at FW Capital by Mark Critchlow at Clearwater and I’ve enjoyed working with him. He has delivered the funding smoothly and have been professional throughout the process, taking the time to understand our business.”

Andy Traynor, Senior Investment Executive at FW Capital said: “Dreamtex has a great track record of success, with a very experienced management team. They have a healthy pipeline of new products and licences which will support their growth strategy. This is a great example of how the NPIF funding can assist ambitious companies seeking expansion which will benefit the local economy and help new job creation in the future.”

Debbie Sorby, Senior Manager at the British Business Bank said: “Partnering with industry giants such as Xbox and Disney, Dreamtex stands out as a major player in the industry. We’re proud to accompany Dreamtex on its journey, fostering success, excellence, and growth as it expands to develop new ranges that champion sustainability.”

The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.

FW Capital Limited is regulated by the Financial Conduct Authority as a small authorised UK Alternative Investment Fund Manager under firm reference number 506719.

Editors Notes

A positive outlook for the Northern Powerhouse Investment Fund

Debbie Sorby at British Business Bank explores the impact of the Northern Powerhouse Investment Fund throughout the lifecycle of the businesses the Fund has supported. She reflects on the successes of the Fund, and looks ahead towards the exciting transition into the new Northern Powerhouse Investment Fund II.

As the new year begins, the Northern Powerhouse Investment Fund (NPIF) is gearing up to the launch of NPIF II, in early 2024. Since starting in 2017, the Fund has been a catalyst for Northern businesses from a whole range of sectors to start their growth journey. In supporting entrepreneurs on their journey to realise their aspirations, we’ve seen small businesses become international industry leaders, and the creation of a world-class pool of talent.

Despite the challenging economic times the last six years has presented, NPIF has created an excellent blueprint for a successful fund. It has made 1,744 investments across the North West, Yorkshire and Humber and the Tees Valley, directly investing £436m of with an additional £654m of private sector co-investment.

Over this period, we have supported a number of businesses through the entire lifecycle and successfully secured exits, from international private equity backing to high-profile trade sales.

SockMonkey Studios
A fantastic example of this is Middlesbrough based SockMonkey Studios, a pioneering games developer founded by Teesside University graduates, Darren Cuthbert and Bob Makin. SockMonkey first received a £250,000 investment from NPIF – Mercia Equity Finance in 2021. Through the investment, the business was able to triple in size, increasing its headcount from 18 to 45. It also supported in building stakeholder relations with some of the leading publishers and brands including tinyBuild, Sumo Digital, SEGA, and Paradox Interactive.

In February this year, SockMonkey Studios was acquired by Canada’s largest video games studio, Behaviour Interactive. Whilst its founders maintain their roles to power its Northern growth, the exit marks Behaviour’s first European investment, and it is a remarkable demonstration of NPIF success in helping to grow a local Northern business.

Airship
Meanwhile, Sheffield-based hospitality technology company, Airship, first received investment from NPIF – Mercia Equity Finance in 2019 and, after three years, it was acquired by Zonal, a leading technology provider. Now, Airship and Zonal have a successful long-term partnership which benefits a shared customer base by allowing hospitality businesses to drive visits and generate pre-visit revenue.

inTEC
In the North West, Manchester-based inTEC was exited by Maven in 2021 following two tranches of funding at a total value of £750,000 from NPIF – Maven Equity Finance.

The cloud-based provider of end-to-end technology solutions used the funding to build its group infrastructure and hire over 40 people. With a growing team, the business was able to increase its work capacity, leading to the successful acquisition of seven businesses before Maven realised its investment.

InTEC continues to be supported by Duke Royalty, with £7.7m to facilitate the Group’s refinancing, and additional funding to support its ongoing M&A strategy.

A bright future for Northern business
It is incredibly inspiring to see NPIF investment into Northern businesses, creating an environment where industries can thrive. Supporting businesses and the entrepreneurs behind them through the growth journey is the backbone of what the Fund was created to do, so to see it come to fruition is testament to the hard work of NPIF’s partners and stakeholders across the first phase of its journey.

As the Fund enters its next iteration, the £660m Northern Powerhouse Investment Fund II, there are many takeaways to bring into 2024, as well as a refreshed focus of our investment pillars, new areas to target, and, of course, helping even more businesses thrive. It is an exciting time, as we start to see the initial impact of our Nations and Regions funds launch in the South West and the Devolved Nations with NPIF II and MEIF II to follow in early 2024.

The NPIF project is supported financially by the EU using funding from the European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Editors Notes

NPIF investment propels The Potions Cauldron to magical heights

York-based The Potions Cauldron, a magical drinks emporium and mini golf brand, has grown significantly since securing a £100,000 investment from NPIF – BEF & FFE Microfinance in 2022, managed by the Business Enterprise Fund (BEF) in partnership with Finance for Enterprise (FFE) as part of the Northern Powerhouse Investment Fund.

The funding enabled The Potions Cauldron to expand its operations, enhance its product line, establish additional sites across the UK, and set its eyes on international expansion. Its success since opening in 2018, has led to it increasing its turnover from £1.4 million in 2022 to an expected £4.5 million in 2024.

Founded by Ben Fry and Phil Pinder, The Potions Cauldron initially sold drinks under its magic-themed branding, offering both alcoholic and non-alcoholic drinks and cocktails which glitter, sparkle, and bubble when served.

The Potions Cauldron was impacted by the COVID-19 pandemic in 2020, losing the entirety of its wholesale arm of the business. Ben and Phil realised The Potions Cauldron needed to diversify if it was to survive future seismic changes. NPIF investment opened the doors to facilitate this diversification.

NPIF investment allowed the duo to expand a new business arm – following a first magic-themed mini golf site in York, The Hole In Wand in Blackpool opened in June 2022 and The Potions Cauldron on Rose Street in Edinburgh in June 2023, thanks to the funding, tapping into the magic of witches and wizards in each tourist location.

Across each location, The Potions Cauldron has created 30 jobs, and is now looking to expand to other tourist locations like Keswick in 2024, with plans to launch ten further sites over the next five years.

As the business continues to grow, the magical drink range is now stocked in 120 HMV stores across the UK and is distributed to major retailers in the USA. It is currently looking for a European distributor and has plans to export to the Middle East.

The business has also planned to partner with one of the world’s largest mass media and entertainment companies in the United States to bring its magical products to an established audience and is also exploring expansion into the accommodation market.

Ben Fry, chief enchantment officer at The Potions Cauldron, said: “The Potions Cauldron brand has grown to great heights over the past few years, which has been springboarded by NPIF investment. Our relationship with NPIF and BEF extends beyond formalities, where we’ve participated in coffee mornings and attended chamber dinners— their consistent support is invaluable, rooted in a genuine connection beyond the financial transactions.

“Our business is now growing at a faster rate than ever before, expanding across the UK and reaching across the Atlantic to future partnerships with US brands. We’re excited to see how our growth unfolds, and we’re holding fast to the team that helped us get here with their investment – BEF and NPIF.”

Mark Iley, Senior Investment Manager at Business Enterprise Fund said: “We are delighted to have contributed to the growth and success of this unique Northern business which has ambitious plans for continued growth. We look forward to supporting Ben and Phil with the funding they need to ensure Potions Cauldron continues to flourish.”

Debbie Sorby, Senior Manager at the British Business Bank said: “The Potions Cauldron is one of the most unique businesses in the NPIF portfolio. From mythical gift sets to magical drinks and mini golf, The Potions Cauldron have come a long way since its first round of funding, and we’re looking forward to supporting the business to accelerate its growth even further. This is a stalwart Northern business that is playing its part in building a strong tourism and entertainment market across the country.”

Business Enterprise Fund is authorised and regulated by the Financial Conduct Authority (FRN: 726237)

Donbac Limited t/a Finance For Enterprise are Authorised and Regulated by the Financial Conduct Authority under FRN 718612. Information Commissioner Office Registered Z153621X

Editors Notes

Chorley recruitment agency secures funding injection from NPIF

Fresh Perspective Resourcing, a Chorley-based recruitment agency, has secured a total of £30,000 from NPIF – River & GC Microfinance, which GC Business Finance (GCBF) manages in partnership with River Capital as part of the Northern Powerhouse Investment Fund.

Founded in 2016 by sisters Laura and Emily Leyland, Fresh Perspective is a recruitment agency that takes a unique approach. It promises to fill every role across all job types and charges its customers based on time rather than fees. It also takes a people-focused approach when working with both the candidates and businesses.

Fresh Perspective previously secured two £35,000 loans from NPIF – River & GC Microfinance during the Covid-19 pandemic. This enabled it to invest more into digital marketing, leading to its best financial year post-pandemic. It also allowed the team to move its office to a space four times in size, doubling its team to twelve.

The new loan will go towards expanding its current team even further, hiring a salesperson, as well as additional marketers and recruiters. It will also invest in AI and technology to improve its efficiency.

The GCBF team aided Fresh Perspective through the process of both loans, getting to know the business and simplifying the financing process.

Fresh Perspective has ambitious plans for the future and is looking to reach £1m in turnover by year ten. It also wants to raise more awareness for its new HR service, which it launched earlier this year, and to develop additional services.

Laura Leyland, founder of Fresh Perspectives, said: “Since starting the agency in 2016, we have done things differently to typical recruitment agencies. This new loan will allow us to continue doing this with an increased team and explore adding value to new areas of the recruitment process. Throughout multiple parts of our journey, GC Business Finance has been able to support us, helping Fresh Perspectives get to where it is today.”

Alison Powell, senior loan manager at GC Business Finance, added: “It has been great to work with such a fantastic business and to see how Laura has taken the business from strength to strength since securing the first loan from GCBF in 2020. The new loan we have provided will allow it to continue contributing to the Northern business environment, growing as a business and creating new jobs. I look forward to seeing what is next for the Fresh Perspective team.”

Keira Shepperson, Director at the British Business Bank, said: “Fresh Perspective is a great example of a Northern business thriving from the support of our funding. Empowering female founders is a core focus for NPIF, and this deal exemplifies how access to finance can unlock the growth of innovative and forward-thinking business models. Follow on investment is key to a sustained growth journey, and we look forward to Laura expanding her team even further, creating more jobs across the North of England.”

The MSIF group of funds are managed by River Capital Management Ltd 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.

Editors Notes