▲ A range of vitamins produced by Bamber Bridge-based Issa Group is now available to buy from the pharmacy of the iconic Harrods shop in London.
▲ The 97th Blackpool Dance Festival attracted 2,000 competing couples from 50 countries. Along with the 13,000 spectators in attendance, the event, at Winter Gardens Blackpool, brought in an estimated £6m boost to the local economy.
▲ Darwen-based WEC Group has earned its place on the Register of Apprenticeship Training Providers as an Employer Provider, meaning it is now able to deliver the Level 3 Plate Welder apprenticeship standard internally without the need for third-party training providers.
▲ Leyland-based Lixall will supply the staff of Olympic Holidays working on the Greek islands and Cyprus with new workwear, including hand-embroidering of the company’s logo.
▲ BAE Systems has pledged £480,000 to support cyber skills education in Lancashire. The aerospace giant is backing InnovateHer and its investment will help 8,000 young people aged 13 to 17 over the next four years.
▲ Blackburn-based Vision Techniques has been appointed to install dashcams in 45 vehicles on behalf of Scottish logistics, construction and maintenance firms WH Malcolm.
▲ The Lancaster and District Chamber of Commerce is temporarily moving to the third floor at the Employer Hub at Lancaster and Morecambe College. Its future home, within the St John’s development in Lancaster, is expected to be ready in around three years.
▲ Inglewhite-based cheesemaker Butlers has secured supermarket listings for its Parlick sheep’s milk range. Sainsbury’s now stocks Parlick Original, Waitrose stocks Parlick Brie and Parlick Original and Parlick Olive are available in Morrisons and Booths.
Debbie O’Grady Senior BDM
/leonard-curtis- business-solutions-group
ASSESS YOUR OPTIONS TO MAKE FUNDING FIT
As we continue to see many businesses forging a path through financially turbulent times, access to finance is now more imperative than ever to maintain steady cashflow and continue to allow growth opportunities.
This may be through more obvious routes such as high street banks, but having a number of alternatives to complement existing funding or generate new streams will ensure businesses are receiving the most appropriate finance for their particular circumstances.
▲ Chorley-based Dreamtex, which produces children’s bedding featuring brands such as Xbox, Bluey and Disney, is planning to use strategic partnerships to expand its presence into Europe. The Lancashire County Council-funded Two Zero’s Scaleup Leaders Network is helping facilitate the expansion.
The breadth of experience within finance our commercial team gives us an insight into current market activity. So what are we seeing?
DOWN
▼ Transpennine Express, which operated trains running through Preston and Lancaster, lost its contract following what the government described as “months of significant disruption and regular cancellations (which) have resulted in a considerable decline in confidence for passengers who rely on the trains to get to work, visit family and friends and go about their daily lives”. The Department for Transport took over the operation of the trains, saying it hoped to later return it to private sector control.
▼ The Federation of Small Businesses has reported that while business confidence across the North West has turned a corner in recent months, it still sits in negative territory and lags significantly behind the national average. The latest Small Business Index shows that confidence in the region sits at -11, which is up from the -48 of the previous quarter, but behind the -3 recorded across the country as a whole.
▼ Crown Glazing, a green energy firm based in Preston, has been fined £130,000 by The Information
Commissioner’s Office for making 500,000 direct marketing calls to people who had registered with the Telephone Preference Service at least 28 days prior.
▼ Unbound, the Skelmersdale-based owner of Hotter Shoes, is seeking a buyer having warned it may struggle to pay its bills by September. The firm missed out on £10m of private equity investment earlier in the year. Now turnaround specialist Interpath Advisory has been appointed to facilitate a sale.
▼ Two men involved in one of the UK’s largest ever carousel tax frauds have been sentenced to a combined total of 31 years in jail. Arif Patel, 55, from Preston, who was once known as the UK’s ‘sock king’ was sentenced to 20 years in his absence at Chester Crown Court. He is currently in Dubai. Co-accused Mohamed Jaffar Ali, 59, also of Dubai, was also sentenced in his absence to 11 years. As reported in the last issue of Lancashire Business View, Arif Patel was the mastermind of a massive fake designer clothing scam.
In the financial year 2023 nearly 30 per cent of funded businesses were in the construction and property sector. Given the impact of the pandemic and global supply chains this is a trend across the industry, however maintaining businesses to continue their work in developing across the region has been a key focus. Manufacturing and industrials, and retail and FMCG were the next highest sectors with funding requirements.
A similar theme comes across with the type of funding, with £30m of funds allocated to invoice finance funding lines.
The lending arena is currently upbeat and positive about their prospects for lending and keen to do more business for the right cases – our job is to match up the most appropriate lender for each of those cases. These lenders might not be a well-known high-street Bank.
Assessing future funding options to be positioned for the best outcome is vital for all business owners.
Call us on 01772 646 180 or visit
lcbsg.co.uk
LANCASHIREBUSINES SV
IEW.CO.UK
23
BAROMETER
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