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Mancunian Way partners with The Big Initiative

Sam Whitear
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Mancunian Way is a charity that works across Greater Manchester on many projects that support local people to improve their own lives now and into the future. From homeless individuals that need support to find accommodation and employment opportunities, to providing help and reform for young people with a history of antisocial behaviour.

Mancunian Way kept all projects up and running until the government lockdown came into place and the team had to suspend all work. The charity made the decision to furlough staff using the government’s Job Retention Scheme and has topped up their income so they receive 100%, as well as guaranteeing all jobs for the future.

But what to do with your time when you are stuck at home and are a naturally caring and compassionate person who just wants to help? A question that the charity’s founder, Nick Buckley, found himself asking.

Mancunian Way partnered up with social enterprise The Big Initiative to offer all staff and volunteers free online training courses that are directly related to the work the charity does across Greater Manchester.

Staff may be furloughed now, but they will be back in work soon and through this partnership have been given access to training, and will have increased their knowledge on important topics and ultimately will be in a better position to understand and find solutions for some of the most vulnerable individuals in society.

Over 100 online courses have been completed by Mancunian Way staff, including Effective Homeworking, ADHD, Domestic Abuse, Depression & Suicide, and even a bespoke course on Covid-19.

Nick Buckley MBE, CEO and Founder at Mancunian Way, said: “My initial priority was protecting staff from the virus but also from financial loss, but my second priority was how can we turn this situation into a positive opportunity. By working with The Big Initiative we’ve been able to invest in our staff’s own development and will come out of the other side with a more productive and knowledgeable team ready to continue helping the most in need in our society.”

Verity Higham, Principal Manager at Mancunian Way, added: “On an average week I have little time to focus on my professional development, as a small charity it is imperative that your focus is on the vulnerable person sat in front of you. But the last few weeks I have had the time to explore new topics and educate myself on new issues so I can offer a better service when the lockdown is over. I feel more confident that I can help more people due to a wider range of knowledge.”

The Big Initiative is a global social enterprise designed to support people with resources designed to educate, empower and inspire. With leading experts collaborating to provide content-based online resources free of charge for the greater good.

This includes preventative resources for young people on the real issues they face ensuring each young person can make better choices in life. Adult well-being resources centred around an individual, personal lifestyle focusing on improving their mental health, and parental resources crafted by leading practitioners to support a parent with the challenges of raising a child in modern-day society.

Neil Degg, CEO of The Big Initiative and The Training Hub, added: “Every person in life is amazing. From birth, they are a sponge for their environment. We have to ensure that they have hopes and opportunities, along with an education that is delivered in a way which not only inspires but also aspires. We also have to understand that each person is very much unique. I believe that every person with the right education and consistency can reach their potential.”

The Big Initiative was created in 2014 by the founders of The Training Hub which is a global provider of ground-breaking vocational online training resources across multiple sectors. The Training Hub’s commitment to The Big Initiative is to provide 40% of its revenue to ensure the scope of resources available is always evolving to ensure full support is provided to every individual on the planet.

homes4u cements partnership with Sale Sharks

Sam Whitear
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Sale Sharks have signed a fresh two-year deal with estate and letting agent homes4u, as they continue their relationship with their long-standing partner

The renewal comes as the Manchester-based firm celebrates its 30-year anniversary in the city

Sale Sharks have finalised a new two-year deal with Manchester-based estate agents homes4u, coinciding with the firm’s 30-year anniversary.

homes4u have been an official Sale Sharks partner for four years and the new agreement ties the two Manchester brands together until 2022.

The announcement comes as the firm celebrates 30-years of business in the region, having been matching people with property since 1990 and catering for a range of needs in the ever-changing property market of Greater Manchester.

Mark Cueto, Commercial Director at Sale Sharks, said: “homes4u are a great partner and one that we always have a lot of fun with, creating content and getting the players involved in lots of different activities to help raise the profile of the brand.

“It is great to have some positive news to shout about, given the ongoing situation with match postponements, but we’re continuing to work hard behind the scenes to ensure our commercial partners are happy and are ready to pick things up again when everything returns to normal.”

The Manchester-based estate agent is a key partner at the Premiership Rugby side and has, in recent years, joined the club in creating fun content for the Sale Sharks’ social media channels; including special carpool karaoke videos and a Halloween prank with a host of first-team players.

Andrew Mellor, Partner Development Manager at homes4u, said: “We’re really pleased to announce the continuation of our partnership with Sharks. It’s a partnership that adds a lot of value for us as a Manchester business and there is no better club to align ourselves with on a long-term basis.

“We have activated the partnership in some really creative ways and that reflects our customer-focused attitude to our work – we can’t wait to do more of that moving forward.”

BARONS QUAY LOOKS TO THE FUTURE WITH CUNNING PLAN

Sam Whitear
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Manchester’s Cunning Plan Marketing has added to its list of destination clients with a new brief from Barons Quay in Northwich.

Barons Quay, which opened in 2016, is a retail and leisure hub in the centre of Northwich. It is home to a 68,000 ft Asda, fashion stores including H&M and River Island, an Odeon cinema, restaurants and Barons Quay Social, a new food and drink market.

The 12-month retainer includes social media management, community projects, content creation, events, design and print.

Lina Higuita Centre Manager at Barons Quay said: “Despite the current situation, Barons Quay is still supporting its customers and tenants via social updates and we are also busy planning a campaign for when we come out of lockdown and welcome people back to the centre.

“For this job we need an experienced agency that can adapt to the current situation and be as proactive as possible. Cunning Plan has already brought creativity and strategic thinking to our social campaigns and we are very much looking forward to a great year of working together.”

James Adam, Managing Director at Cunning Plan said: “Barons Quay is a great example of a scheme that is looking ahead while still communicating with its tenants and customers during this difficult time. The management team recognises that this is the time to be investing in marketing and we are pleased to be helping them through this while also planning footfall driving activity for the future.”

GM businesses urged to urgently access £629m coronavirus grant support funding

Sam Whitear
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Greater Manchester mayor Andy Burnham today led calls for businesses to urgently apply for a share of the £629m coronavirus grant funding available from Local Authorities in the region.

Businesses that are the main rate payer of business rates can be eligible for grant support of between £10,000 and £25,000 and may miss out on vital financial support if they do not apply by the end of April.

It is vital that eligible businesses contact their Local Authority to apply for a grant. Funding is available for eligible companies but councils administering schemes may not have contact details for businesses, many of which are temporarily closed due to coronavirus.

  • The Small Business Grant Fund (SBGF) will provide businesses with a grant of £10,000 to help support them during the Covid-19 crisis. This grant is for businesses, with a property, that as of 11 March 2020, were in receipt of Small Business Rates Relief or Rural Rates Relief.
  • The Retail, Hospitality and Leisure Grant Fund (RHLGF) will offer businesses in these sectors across Greater Manchester a grant of up to £25,000. This grant is for businesses in those sectors with a rateable value of less than £51,000 and who would have been eligible for the Expanded Retail Discount Scheme. For businesses with a rateable value of £15,000 or less the grant will be £10,000. For businesses with a rateable value of £15,000-£51,000 the grant will be £25,000.

Businesses need to apply via the Local Authority where they are located, with links provided here for each of the 10 Greater Manchester boroughs.

  • Bolton – click here.
  • Bury – click here.
  • Manchester – click here.
  • Oldham – click here.
  • Rochdale – click here.
  • Salford – click here.
  • Stockport – click here.
  • Tameside – click here.
  • Trafford – click here.
  • Wigan – click here.

Businesses can also find out if they are eligible by going to https://www.businessgrowthhub.com/coronavirus/local-business-support/greater-manchesterand https://www.gov.uk/government/publications/coronavirus-covid-19-business-support-grant-funding-guidance-for-businesses

Mayor Andy Burnham, along with Greater Manchester Local Authority leaders, members of the Greater Manchester Local Enterprise Partnership, and the Growth Company, is working to ensure that businesses are accessing the support that is available for them.

Mayor Andy Burnham said: “Colleagues in all of Greater Manchester’s Local Authorities are working flat out to get this money out to businesses who so desperately need it to survive. I would encourage you to apply if you think you might be eligible. We think there are more businesses eligible than have yet applied and we want to make sure this support reaches those businesses who need it.

“We know there are some gaps in the grant scheme available, such as for small firms that operate from shared working spaces. I am working closely with local leaders to raise these gaps with Government and to ensure the Chancellor delivers on his commitments to do whatever it takes to support businesses and hard-working citizens through this crisis.”

Lou Cordwell and Mo Isap, co-chairs of Greater Manchester Local Enterprise Partnership, said: “We know there has been some confusion about the grants available to businesses but we urge any small business that are the main business rate payer and so may be eligible to get in touch with their Local Authority as soon as possible.”

In addition to Local Authority grant funding, £3m of loan funding is available for qualifying businesses via the Coronavirus Business Interruption Loan Scheme for Greater Manchester.

Greater Manchester LEP, working with the Growth Company, has unlocked an initial £3m package of urgently needed financial support for Greater Manchester businesses via the Coronavirus Business Interruption Loan Scheme for Greater Manchester. Administered by GC Business Finance (GCBF), the Coronavirus Business Interruption Loan Scheme (CBILS) for Greater Manchester is now ready to provide loans of between £5,000 and £250,000 to qualifying companies. To find out more, visit GCBF.

Business advisors at the GC Business Growth Hub are also working extended hours to support businesses and individuals, while information and advice is available via the GC Business Growth Hub coronavirus support hub, part of the #HereForBusiness initiative.

Visit businessgrowthhub.com/coronavirus or call the Hub on 0161 359 3050 to speak to an advisor. Extended hub opening hours are now Monday to Friday, 8am – 8pm; and Saturday and Sunday 9am – 1pm.

And national support is available via Government initiatives to support businesses during the coronavirus crisis. (https://www.gov.uk/coronavirus/business-support).

Mark Hughes, Chief Executive of the Growth Company, said: “This is an incredibly difficult time for businesses, and it is of vital importance that they know that they can access the funding support and advice that is available to them. Our commitment to supporting the business community has already been demonstrated through the Employ GM and #HereForBusiness initiatives and it is important that businesses know that there is somewhere they can turn for help.”

To check eligibility for Business Support Grant Funding and how to apply visit https://www.businessgrowthhub.com/coronavirus/local-business-support/greater-manchester

You can also check the official gov.ukguidance at https://www.gov.uk/government/publications/coronavirus-covid-19-business-support-grant-funding-guidance-for-businesses/

For business advice and frequently asked questions, go to businessgrowthhub.com/coronavirus, which includes webinars. Or call a Hub advisor on 0161 359 3050.

To find out more about accessing the Greater Manchester Coronavirus Business Interruption Loan Scheme for Greater Manchester visit: GC Business Finance – http://businessfinance.growthco.uk/funding/coronavirus-business-interruption-loan-scheme-cbils/

Innovation Vouchers scheme brings enhanced safety for key workers and creates two new jobs

Sam Whitear
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An Oldham-based manufacturer is developing the next generation of protective headwear with support from a scheme that is designed to bolster business innovation by encouraging academic partnerships and new research and development (R&D) activities.
Future Safety applied for GC Business Growth Hub’s Innovation Vouchers last year to support the development of new safety helmet designs, which use modern manufacturing techniques and sophisticated new materials.

Their participation in the scheme has since allowed the business of 14 staff to create two new positions and is bolstering their efforts to supply key workers including fire and rescue services, and paramedics, with the latest innovative safety products.

Colin Holmes, MD of Future Safety, said: “Our business has been going strong for a few decades but until quite recently, we’d never really considered or had the knowhow, to join forces with a local university.

“The innovation vouchers scheme has been hugely important for our next phase of development, bringing access to a team of academics and professors at Manchester Metropolitan University. They’ve helped Future Safety to ensure that our product development is truly evidence-based and aligned with the latest studies into areas such as traumatic brain injury and materials performance design.

“It’s been a hugely valuable exercise, opening doors and enhancing our network which I’m proud to say now includes academic experts with a real understanding of the various challenges we face in our industry, and most importantly, of the environments in which our safety products are required.”

Innovation Vouchers enable small and medium-sized enterprises (SMEs) in Greater Manchester to apply for up to £5,000 funding to access expertise, research and specialist facilities to accelerate the development of innovative products and services. The service is part-funded by the European Regional Development Fund.

The vouchers are available for established SMEs in the city-region, subject to eligibility and suitability criteria. They provide an opportunity to develop a new, long term and sustainable partnership with a university or a recognised research organisation (typically not for profit).

Successful applicants must match the value of their Innovation Vouchers. with a £1 contribution for every £1 voucher received. For example, businesses applying for the maximum voucher of £5,000 will be required to contribute £5,000 (and the full VAT cost). The minimum contribution from businesses is £3,000.

The kind of activities the vouchers can be used to fund include; access to facilities and equipment; product design; research and development; knowledge transfer; and consultancy.

Yvonne Grady, Innovation Lead at GC Business Growth Hub, said: “Enabling innovation is extremely important for business resilience and success, but many SME business owners struggle with knowing where to begin in terms of accessing external expertise.

“The Innovation Vouchers project helps to accelerate this process, as well as the various routes to market, by forging strong links with the world of academia and research. We’re pleased to see the success of this scheme is already showing in companies like Future Safety. The next round is now open for applications and we would urge business owners to consider entering and to speak with our team expert advisors about the support that is available.”

GC Business Growth Hub’s Innovation Vouchers scheme makes access to expertise, funding and knowledge simple, and helps SME businesses to identify and progress innovative opportunities from concept to implementation.

The scheme is open to any SME business based in Greater Manchester that meets the full criteria and has potential for growth innovation opportunities that are new to the organisation or marketplace.

Packaging specialist wins Queen’s Award for Enterprise

Sam Whitear
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Manchester-headquartered packaging specialist, Duo UK, has been honoured with a Queen’s Award for Enterprise.

Duo UK is one of 220 organisations nationally to be recognised with a prestigious Queen’s Award for Enterprise. Announced today (Tuesday 21 April), the business has been recognised for its excellence in innovation for the DuoOptipac mailing bag.

The DuoOptipac was created and developed by a team at Duo UK’s Manchester site. Together, they developed and built a new packaging innovation that would provide ecommerce retailers with a parcel bag to create fulfilment efficiencies and convenience for both customers and
retailers.

Launched in May 2016, the DuoOptipac mailing bag features an integrated handle which lies snug against the body of the bag maintaining the original capacity but reducing the volumetric dimensions of the package.

DuoOptipac’s compact design maximises space on the conveyor belt system, increasing throughput by 28%. The tac-down handle reduces the overall size of the package, reducing delivery costs on volumetric pricing without the requirement for any changes to the pick, pack and
ship operation.

To date, over 257,000,000 DuoOptipac mailing bags have been manufactured and sold by Duo UK.

Commercial director, Anthony Brimelow, said: “We invented the DuoOptipac mailing bag based on feedback from customers on the escalating ecommerce fulfilment costs along with demands from ecommerce shoppers for increased delivery options when there was a clear need for
a new parcel style to fulfil this demand.

“We pride ourselves on our ability to adapt and innovate, now more than ever, and the honour of receiving a Queen’s Award for Enterprise is testament to the transformation that the DuoOptipac mailing bag has delivered to fulfilment warehouses and ecommerce businesses. We’re all extremely proud to receive such a prestigious accolade – it’s given us a real morale boost in these truly challenging times.”

Now in its 54th year, the Queen’s Awards for Enterprise are the most prestigious business awards in the country.

NPIF investment accelerates Summize growth plans

Sam Whitear
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Summize, the developer and provider of intelligent software for the legal sector, has bolstered team growth, product development and cross-border expansion plans as a result of a £500,000 investment from the Northern Powerhouse Investment Fund, with additional capital from tech investor Charles Sharland.

The Manchester-based firm has created a platform, driven by artificial intelligence (AI) and machine learning, to meet customer demand for digital transformation in the legal sector.

The software gives legal teams the ability to upload multiple contracts and summarise their key points instantly in an easy-to-read summary. It also has a function for users to build bespoke clauses, making contract reviews more flexible and applicable to each legal team’s needs. The platform has been created to automate a previously time-intensive manual process, saving those operating in the legal space both time and money.

Summize’s innovative platform supports both in-house and private practice legal teams, focusing primarily on the corporate, commercial, employment and intellectual property departments. It is also suitable for corporate organisations with no legal function.

NPIF – Maven Equity Finance, managed by Maven Capital Partners and part of the Northern Powerhouse Investment Fund invested in Summize in 2019. The impact on the company has been two-fold – firstly increasing staffing by taking the team from two co-founders to 13 employees. Two of these hires included a Chief Technology Officer and a Head of Strategy, with additional recruits to the technical, sales and marketing functions.

The capital has also allowed the company to develop its prototype and bring the platform to market 10 months ahead of schedule, by building its technical infrastructure and investing in more technology. AI and machine learning are now built into the functionality of the product, meaning contract summaries can be created more quickly and efficiently, eliminating the risk of human error.

Summize has short-term plans in place for the next six to nine months to scale its UK customer base and take its headcount to 20. Its two-year plan is to expand into the US and more than triple its headcount to 50 plus employees.

Backed by a highly skilled management team, CEO and co-founder Tom Dunlop is an experienced commercial and technology lawyer, having previously held a position as global legal director for UX insights company UserZoom. He is supported by CDO and co-founder Dave Smith and CTO Richard Somerfield, who previously worked at AppSense as Senior Software Engineer and Principal Software Engineer respectively.

Tom Dunlop, founder and CEO of Summize, said: “We have a truly unique tech product that is set to transform the legal industry, so it has been excellent to have had the support from NPIF and Maven to recruit the expertise we need to bring the product to market quicker. It is already generating a buzz within the legal tech space, so the Summize platform is well-equipped for a busy 2020, with a new team and more software features. We are excited to see where it takes us!”

Grant Peggie, Director at the British Business Bank, said: “NPIF is all about helping businesses like Summize to help commercialise a prototype into a commercial product, but also to recruit the team they need to bring it to market. This investment demonstrates how this funding can make a real and measurable difference to growing innovative businesses across the Northern Powerhouse region, which helps create a more prosperous regional economy.”

Jeremy Thompson, Investment Director of Maven, said: “Summize has developed a platform with a large addressable market set to grow further as more businesses digitise their processes. The team is highly experienced with a range of knowledge across technology and legal sectors. We look forward to working with Tom and the team as they enhance the software and expand customer reach in the UK and overseas.”

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.

Code Nation to provide virtual training courses for furloughed staff

Sam Whitear
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Code Nation has extended its business-led training courses via their virtual learning environment, enabling those recently furloughed to reskill and join the digital workforce.

Business owners who wish to upskill their team, or who are facing the tough decision on whether to furlough staff, can now take some comfort in the opportunity that allows any furloughed member of staff to be retrained during the furloughed period – helping both the team member to access future career opportunities and the business to digitally transform their workforce.

For individuals wishing to upskill or retrain as a Software Developer, Code Nation’s courses are now being taught remotely in their virtual learning environment by full-time instructors, utilising the latest technology and tools available in remote and virtual learning.

Code Nation’s 3 week ‘Develop: Coding’ course immerses students in the fundamentals of front-end and mobile app development and gives them a platform to build their careers in the digital sector, while their flagship 12 week ‘Master: Coding’ bootcamp prepares students for careers as professional developers with a full-stack curriculum shaped by the demands of technical employers.

Code Nation’s CEO, Andy Lord said: “Given the unprecedented situation regarding COVID-19, we want to help more people improve their technical knowledge and gain skills that will make them employable in the modern workforce. Our virtual classroom provides students with the ability to learn and engage with us no matter where they are”.

Students joining the courses will be trained in the latest web technologies and agile methodologies to enable them to upskill within their current business or apply for new roles. Graduates are prepared to join a sector that is seeing a further increase in the demand for talent following the emergence of new virtual solutions driven by the current government lockdown measures.

Code Nation’s training courses have traditionally been available in their UK-based campuses to deliver ‘work ready’ courses for anyone wishing to move into the digital sector. However, their employment-focussed training is now being delivered virtually in order to maintain their efforts in solving the digital skills gap whilst giving those who have been furloughed access to career-transforming training.

Andy continues, “The current lockdown has changed the way we go about our lives. It’s forced businesses to adapt in order to survive – whether that’s adjusting your meetings to Zoom calls or building a whole new digital infrastructure. From one end of the spectrum to the other – we’ve seen a digital transformation in the wake of the crisis, even at Code Nation.

“Business’s new reliance on tech means they’ll need to level up their digital capabilities and we can help them do it. If they’ve unfortunately had to furlough staff that can’t work given the current climate – we can turn them into tech superstars by the time ‘business as usual’ comes around, or if they’ve been inspired by working virtually to change the way they operate – we can help them level up their development teams and create tech talent for them for free”.

Businesses in need of technical talent at this time can train their staff for free using Code Nation’s apprenticeship programme. Apprentices start their programme with the ‘Master: Coding’ bootcamp for 12 weeks to complete all of the required off-the-job training and develop the technical skills and commercial awareness that their employer requires. All of this is done at no cost to the business thanks to the Apprenticeship Levy.

Individuals who are looking for a career change or an opportunity to learn the skills required to enter the digital industries can also take advantage of this opportunity, learning to code from the comfort of their own home during the current lockdown period.

GM LEP approves £3m funding to bolster financial support available to Greater Manchester businesses battling impact of coronavirus

Sam Whitear
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The Greater Manchester LEP, working with the Growth Company, has unlocked an initial £3m package of urgently needed financial support for Greater Manchester businesses battling the impact of coronavirus.

And private sector investors were today urged to further boost the funding support available to struggling businesses in the region, working alongside the public sector to protect jobs.

Administered by GC Business Finance (GCBF), the Greater Manchester Coronavirus Business Interruption Loan Scheme (GM CBILS) is now ready to provide loans of between £5,000 and £250,000 to qualifying companies.  It will be delivered by GCBF alongside the Government Coronavirus Business Interruption Loan Scheme.

The GM CBILS backed funding will bring vital additional capacity to existing Government schemes, meaning that more business in Greater Manchester will have access to the funding they need to meet the challenge of the Coronavirus outbreak. This Greater Manchester approach will help support SMEs that may struggle to secure finance support from their banks to survive and grow.

The £3m funding was given emergency approval by the Greater Manchester Combined Authority (GMCA) and Greater Manchester Local Enterprise Partnership (GM LEP), broadening funding eligibility and capacity to save jobs and businesses.

The funding provides immediate capital to meet the needs of Greater Manchester businesses who meet the GM CBILS lending criteria.

Investing alongside the Northern Powerhouse Investment Fund (NPIF) and the Start Up Loans Programme, this Greater Manchester funding builds on the loan funding available locally and is available immediately to respond to the acute challenges some SMEs in the city-region are currently facing.

It is a decisive response by Greater Manchester in immediately bolstering existing publicly backed funding already available and adding critical capacity to GCBF in helping more SMEs survive this crisis and protect jobs.

The Growth Company will work with potential private sector co-investment partners to enable vital funding to be made available to even more businesses.

The GMCA and LEP funding is part of a concerted effort across Greater Manchester to support businesses and jobs – including the #HereForBusiness and Employ GM campaigns – and will help to maximise the availability of CBILS funding to Greater Manchester businesses.

The Greater Manchester Coronavirus Business Interruption Loan Scheme will provide vital immediate cashflow to businesses alongside the business grant funding that is already being administered by Local Authorities across Greater Manchester.

Mayor of Greater Manchester, Andy Burnham said: “This is a fantastic example of Greater Manchester doing the right thing.

“By acting quickly to unlock vital loan support at a very difficult time, we are playing our part in minimising the economic impact of the coronavirus in our city-region.

“We will do everything we can to protect local businesses and safeguard jobs in our vital SME sector.  But I also want to put the call out to all potential co-investors from the private sector – come and help us support even more businesses through this fund.

“Only by working together can we safeguard employment and ensure that Greater Manchester is in the best possible shape for recovery.”

Lou Cordwell and Mo Isap, Co-Chairs of the Greater Manchester Local Enterprise Partnership, said: “These are unprecedented and very worrying times for businesses.  Our Board is continuing to listen to business here in our city-region and we are doing all we can to safeguard jobs and minimise economic damage.

“It is clear that cashflow continues to be the most important issue for businesses and that is why we have immediately made £3m available for distribution by GC Business Finance as part of the new Greater Manchester Coronavirus Business Interruption Loan Scheme (GM CBILS).

“However, we cannot do this alone.  We need our brilliant private sector to step forward as co-investors and help us to scale up this fund so we can protect even more jobs and businesses.”

Mark Hughes, Chief Executive of the Growth Company, said: “Businesses tell us that they require urgent access to financial support if they are to remain afloat.

“While this funding will be crucial to that effort, this is also about continuing to support business growth, which we know will be so critical for the economy as we come through the immediate Covid-19 crisis.

“Working with our partners at GMCA and with the support of the Greater Manchester Local Enterprise Partnership, I’m pleased that we are now able to provide a lifeline to the many companies, who are doing their utmost to protect jobs and look to the future.

“I would urge any private sector investors who are able to support this initiative through co-investment to get in touch with the Growth Company.

“Our philosophy in response to the challenges presented by the coronavirus has been that we are ‘Here for Business’ and colleagues at GC Business Finance are now able to demonstrate that with vital practical support.”

One of the first GM businesses to benefit from a GC Business Finance administered CBILS loan is Consensus Workspace – one of the UK’s fastest growing interior office fit out specialists.

Commenting on the CBILS loan, Managing Director of Consensus, Andrew Plastow said: “We approached the Growth Company having struggled to confirm short term funding with our own business bank. I was amazed at the speed of the response, communication and decision making, which came within 12 hours of us returning all the information required.

“GC Business Finance have really delivered on the promises from the Government to help us as a successful but disrupted small business in Greater Manchester.

“The loan is critical to protecting our future growth and ensuring we will be able to immediately mobilise as soon as restrictions are lifted.”

To find out more about accessing the Greater Manchester Coronavirus Business Interruption Loan Scheme for Greater Manchester visit: GC Business Finance – http://businessfinance.growthco.uk/funding/coronavirus-business-interruption-loan-scheme-cbils/

To discuss private sector co-investment opportunities in support of the Coronavirus Business Interruption Scheme for Greater Manchester visit: [email protected]

YFM Equity Partners announce successful close for new £80m buyout fund

Sam Whitear
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YFM Equity Partners (YFM) has announced the final close of its Buyout Fund II, ahead of target, with £80 million of committed funds and a wave of new high net worth and entrepreneurial investors.

The partner-led private equity firm with offices in Manchester, Leeds, Birmingham and London, now has over £300m of funds under management across a portfolio of 40 companies and typically invests around £5m per transaction. Deals funded from YFM’s Manchester office include Trafford Park-based 4Net Technologies, which is a specialist provider of contract centre services and unified communications; and a £6.4m investment in Runcorn-based The Protein Works, a retailer of healthy snacks.

“The majority of Buyout Fund I investors have come into the new fund which is a strong sign of support from our investor base.
We’re also pleased to have attracted nearly 40 new investors, each typically committing sums of between £500,000 and £5m, which is a great endorsement of our market, approach and performance,” said Mike White, YFM’s partner responsible for fundraising and investor relations.

YFM’s strategy is to raise funds that are invested over three to four years, principally from high net worth, entrepreneurial investors. “This is a different approach to most private equity funds, but it’s delivered flexibility of timing between funds, increased the diversity of investors and works really well for funds of this size,” added White.

Buyout Fund II will continue the strategy of the first fund, typically investing between £3m and £10m per transaction into businesses with strong growth potential located across the UK regions through YFM’s network of offices in London, Leeds, Manchester and Birmingham. The fund is targeting to invest over a three to four year period, extending into 2023.

White continued: “It’s been encouraging that the momentum we have built up has continued to accelerate, resulting in a final close ahead of target. Most of our investors are owner managers who have realised value either partially, or in full, from businesses in the markets and sectors in which we invest. It’s been a real pleasure to meet these successful entrepreneurs who clearly show a strong empathy and understanding of what we do, how we do it, and are comfortable with the types of businesses we invest in.”

David Hall, YFM managing partner, added: “We believe the market for these smaller businesses is less well-served, which was demonstrated by the success of Buyout Fund I, which built its portfolio within three years of final close.

“Clearly, we are in a period of uncertainty at the moment, but as in previous times of uncertainty, we are confident that now is a great time to have a new fund ready to deploy, and that there will be some exciting opportunities for investment.

“We’ve been encouraged by the strong investor appetite and our team is excited by the prospect of having these additional funds to invest in the UK’s smaller businesses. And, having very recently completed one new investment and one successful realisation, we are and remain open for business.”

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