Growth funding provider Rosebud helps Lancashire SMEs create 80 jobs

Growth funding provider Lancashire Rosebud Finance has helped create more than 80 jobs in the last 12 months, according to new data.

During the year to March 2017, Rosebud provided debt finance to the tune of £1.6m for eight businesses across the county.

The investment enabled the companies to collectively hire dozens of new staff and raise a further £3.9m from other financial sources.

The figures were released this week (May 25) by Enterprise Ventures, part of tech investment business Mercia Technologies PLC, which manages Rosebud for Lancashire County Council’s economic development arm, Lancashire County Developments Limited.

Businesses that received Rosebud investment in the 2016/17 year included Lancaster-based digital highways company Gaist Holdings; Ribchester-based Omega Sky Ltd, the firm behind wall murals website Wallsauce.com; and Lancaster digital marketing and web hosting agency NuBlue.

Door4, the Burnley-based digital agency, and Ormskirk energy consultancy Clean Power Solutions were also among the recipients.

Enterprise Ventures investment director Paul Taberner said: “Rosebud Finance continues to be a key ingredient in supporting businesses which want to expand but have difficulty in sourcing the funding from other lenders.

“Over the years we have helped some of the brightest and most innovative companies in Lancashire to put their growth plans into action, with a significant proportion going on to become award winners in their field.”

He added: “Companies clearly appreciate the support which Rosebud provides as many come back to us at a later stage when they seek subsequent rounds of finance to continue their growth journey.”

Rosebud celebrated its 30th anniversary in 2016.

The county council’s head of business growth, Andy Walker, commented: “Rosebud has a long record of support and advice for businesses based right here in the county. The past 12 months have been no exception.

“Rosebud’s support directly creates new jobs here in Lancashire. Thanks to our support, companies get help to expand and develop their businesses, as well as advice and support on relocation. Our backing can help to bring in other funding for your business.”

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