Micro fund aimed at budding businesses

Funding offer: County Coun Niki Penney on the Rosebud Fund
Funding offer: County Coun Niki Penney on the Rosebud Fund

Hi-tech, creative, aerospace and financial firms could benefit from a new funding stream designed to create new jobs in the county.

Through the county council’s Rosebud Micro finance, companies in Lancashire could get from £10,000 to £49,000 to support their plans for growth

As well as funding growth ideas, Rosebud Micro also includes complimentary support and advice that’s tailored to the needs of businesses.

Rosebud Micro is accessed through Access2Finance on behalf of Lancashire County Developments Ltd (LCDL) – the county council’s economic development department.

County Coun Niki Penney, chair of LCDL, said: “The funding landscape has changed in recent years. It’s no longer the case that banks will lend on their own – they want businesses to source other funding, which could include Rosebud Micro. This helps banks to share their risk.

“We’re looking for ambitious growing businesses, which are based in Lancashire or relocating here. Rosebud Micro could be the answer to unlocking new funding for your business.”

Rosebud Micro is aimed at growing business in these key high-growth sectors – creative and digital; finance and professional; energy and environment; aerospace and advanced manufacturing.

Councillor Penney added: “Companies sometimes need extra funding to support their big idea. Rosebud Micro can be used to support your business – whether it’s to develop a new product, for new equipment, recruitment or to help open up new markets.

“Rosebud Micro offers sector-specific support and can help to flag up opportunities for your business.

“You’ll get support from locally-based sector specialist advisors to help fuel your growth.

“It includes hands-on support, including half-yearly meetings with sector specialists – which we know was valued by the businesses we’ve helped.”

Rosebud Micro can link in with other support services related to your business including universities, UKTI, the London Stock Exchange, Regenerate Pennine Lancashire, Boost, The Design Council, Access2Finance, district councils and Creative Lancashire.