somebody who might know,’ and then it’s moving you on to the next person.”
John Gray said River Capital was committed to supporting SMEs across the North West, with Preston and Blackburn emerging as key growth areas.
He said: “It is all about helping SMEs try to grow. Preston’s a really big hotbed for that and it is gathering huge momentum. We’re seeing Blackburn become a big area of activity too.”
He encouraged businesses to engage with funders at an early stage, stressing that initial discussions could help identify the most appropriate source of finance.
John said: “We will spend time talking about your ideas. We work closely with high street banks, understand the products available in the market and can often identify better solutions.
“It might not result in a loan from us, but if it helps an SME grow, that’s the right outcome.”
He added: “You look at all the changes that have happened in the economy since 2016. The SMEs just keep going. They might pause and just take stock of what’s going on, but the SMEs in this country are really, really striving, and they’re the backbone of business, so have confidence in that.”
HEADING INTO THE DRAGONS’ DEN
Entrepreneurs Derry Green and Rachel Williams said welcoming scrutiny and challenging their own businesses proved as valuable as securing investment during their appearances on Dragons’ Den.
The founders explained how the BBC programme tested their ideas, reinforced
John Gray
when she appeared on the programme. She said preparing for the pitch meant knowing every aspect of her business.
“You have to be prepared because you don’t know what is going to happen. I thought, do I know my business well enough? Do I know everything that they
You have to be prepared because you don’t
know what is going to happen. I thought, do I know my business well enough? Do I know everything that they could possibly throw at me?
key business decisions and gave them confidence in their future growth plans.
Joe O’Connor
Rachel Williams, managing director of Nelson-based skincare brand Albus and Flora, secured an offer of £50,000 for 30 per cent of her business from Touker Suleyman
could possibly throw at me? I didn’t want to be on the television stumbling because I’ve got a credible business.”
Rachel said the experience reinforced the decisions she had already made.
Continued on Page 76
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75
FUNDING SUMMIT
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