Our Corporate Finance Associate Partner, Chris McCourt, shares his thoughts following our recent ‘Get Going, Get Growing’ event…
Last week, in conjunction with Business Durham and Swinburne Maddison, Tait Walker delivered a seminar aimed at encouraging SMEs in County Durham to think about growth.
Simon Goon of Business Durham gave a great insight into what Business Durham are doing to encourage growth in County Durham whilst Alex Wilby of Swinburne Maddison covered the legal process around investment. I spoke about some potential barriers to growth and ways to address them.
The audience also heard from Joe Olabode of PCI Services who spoke about his experience of raising finance to grow his business. This insight was invaluable for others thinking about raising money, as it brought to life the process of receiving investment. Joe stressed the importance of having good professional advisers to support you through the process and also shared some tips on what to expect from investors during the due diligence process.
I was delighted to speak at an event where the room was full of business owners thinking positively about the potential of their company. Those in attendance were keen to hear about how they can tap in to finance and expertise to help deliver the growth potential for their businesses.
It’s a great time for SMEs to be thinking about investment for growth. In Teesside and Cumbria, the Northern Powerhouse Investment Fund is up and running with fund managers FW Capital, Maven Capital Partners and Enterprise Ventures appointed to deliver the investment programme.
In the North East LEP area (Northumberland, Tyne & Wear and County Durham) the North East Fund (JEREMIE II) has now appointed fund managers, the official launch will be taking place shortly and there will soon be £145m of capital available to SMEs in the North East LEP.
In addition to these funds, Business Durham have launched the new Business Durham pot of £20m that Maven Capital Partners have recently been appointed to manage. The capital for this investment fund is being provided by Durham County Council and aims to help businesses in the county exploit their growth opportunities.
If you are interested in finding out more about the seminar, or are thinking about raising money for your business, please contact Chris McCourt to see how Tait Walker can help.