Coastal View & Moor News Issue 17
Businesses advised look widely for finance A
business support organisation that has made more than £60m of true risk capital available to UK businesses since it was set up is advising the region’s businesses to look widely for finance. Simon Hamilton, Regional Manager of UK Steel Enterprise, a subsidiary of Tata Steel, said: “In the current economic situation businesses not only have to find the confidence to go ahead with a start-up or an expansion project but also cope with a difficult funding market. “It is crucial to a company’s development to secure the right type of finance at the right time but finding it can be a major challenge for smaller businesses because of their size and risk profile. Few funders are able to provide true ‘risk’ money in the relatively modest amounts that many entrepreneurs require.
“UK Steel Enterprise was set up to help growing companies operating in steel areas to realise their full potential, boost the local economy and create jobs. Having a bottom line that is about regeneration gives us more flexibility than some other lenders to put together appropriate funding packages. In addition, our support can help to encourage other investors to back a
business,” he added.
UK Steel Enterprise packages include unsecured loans, secured loans and share capital packages along with more flexible mezzanine funding and the government backed Enterprise Finance Guarantee (EFG) can be considered for appropriate projects.
Investments from £25,000 up to £750,000 are available for businesses with a sound business plan and strong management and, in addition, small start-up loans of up to £3,500 are available for businesses that are less than 18 months old.
In three decades, UKSE has invested a total of £16.6m in the Northern region to support over 1000 companies and more than £10m in providing business premises. Almost 16,000 jobs have been created. The Northern office covers the areas of Tees Valley, Derwentside and West Cumbria with UKSE Innovation Centres at Redcar and Hartlepool currently housing around 80 of Tees Valley’s most exciting young businesses. Details of UKSE’s support for business is available on 01642 777 777 and at www.
uksteelenterprise.co.uk.
What no fireworks? A question to the Leader
We have been asked by many residents of the Borough why this year Redcar & Cleveland Council decided not to put on a firework event at Redcar Stray this year. We wrote to Council Leader George Dunning on your behalf and this was his reply; Cabinet considered and agreed the Council’s annual event programme on 29th March 2011. This did not include a fireworks event. The event programme has been widely available on the Council’s website and communicated through posters and leaflets since that date.
Further consideration to the fireworks event was given by the relevant Cabinet Members during August and September. They agreed that in the current economic environment that the Events Programme should remain as is and that the Council would not hold a fire work event.
It saddens me as leader of Redcar & Cleveland Council and as a regular attender of the Redcar Stray Fireworks display that this is one of several multi million pound Tory Lib Dem Coalition cuts that Redcar & Cleveland Council’s Cabinet have to consider.
11 Helpful Connexions By James McGill
as well as on the job training through apprenticeship schemes and the benefits volunteering can offer. Coast & Country Housing, DoorWays Project, e-achieve, Nordic Pioneer, Jigsaw, A4E, JHP, Cleveland Fire Brigade, Horizon and local Colleges all had stalls.
R
edcar & Cleveland Council are looking to tackle rising ‘youth’ unemployment by bringing together local employers and young people. On Thursday 1oth November the Redcar Business Centre was full of young people aged 16 to 25 who are not currently in education, employment of training as well as local Business and employment agencies. The event was organised by a partnership of Redcar and Cleveland Council’s Connexions, Routes to Employment and the Elite Project. The aim of the event was to let young people know what help the council and local organisations can give them in finding work. Young people could find out about the opportunities local colleges could offer,
Redcar and Cleveland Council Routes to Employment have
found work for more than 100 young people in fields as diverse as working on the North Yorkshire Moors and journalism. Redcar and Cleveland Mayor Olwyn Peters who officially opened the event said: “I’ve found today absolutely fantastic, it’s a wonderful opportunity to have a setting like this with many organisations to turn up and give advice to young people.
“I’ve been really impressed with each stall and what they have to offer, and if I’m impressed the young people should be too. “ It’s good to see so many young people in a relaxed environment where they are able to speak to the right people and get the right guidance and I’m very pleased to have been part of it.”
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