Lancashire is low for applications to North West Fund

Only 17 per cent of businesses in Lancashire have applied for their share in the North West Fund.

Despite being home to more than 45,000 registered companies, the second largest concentration in the region, county firms have failed to apply in big numbers.

From December 2010 to June 2011, the North West Fund received more than 971 applications in total, with Lancashire having the second lowest number of applications received.

Just a few Lancashire firms benefited from the funding with Clitheroe-based Alchemy Healthcare receiving £50,000 Pathfinder investment and web-based Azullo Limited in Lancaster gaining some cash.

Andy Leach, chief executive of NWBF, said: “Although some areas of the North West are well represented in terms of applications for funding, we would like to hear from more aspiring businesses in Lancashire and urge them to take full advantage of the funding on offer.

“High growth sectors are leading the inward investment charge for the North West. It is encouraging to see that the funds we have created around three specific sectors with high growth potential, regional expertise, credentials, track record and infrastructure, are attracting strong interest from all over the UK which will help to create jobs for the region as they grow.”