New help for Blackpool businesses to access growth money

Businesses and charities along the Fylde coast will have a new way to access finance thanks to a new initiative.

Business Funding Blackpool – Funding the Fylde Coast, which has opened in the heart of the town, has access to £3m that has been made available in the North West through its umbrella company, Business Finance North West. 

Business Funding Blackpool – Funding the Fylde Coast was encouraged to set up on the Fylde Coast by Business in the Community’s Blackpool Pride of Place Partnership, with the support of one of its Board members, Lloyds Banking Group.

More than 170 people attended a special launch event at Blackpool's Tower Ballroom to hear how it will help drive growth, support entrepreneurship, unlock opportunities for the local economy, and increase social impact

This initiative will make it more attractive for people to bring their business ideas to the town, with start-ups and scale-ups now having better access to finance. 

Business Finance North West supports small businesses, entrepreneurs, and social enterprises to access the funding they need to start, grow, and create jobs. 

The community loans will support local firms that have been overlooked when trying to access money and funding. 

Network leaders from Pink Link, Blackpool Business Leadership Group, Federation of Small Business, Blackpool’s voluntary sector, North and Western Chamber of Commerce, Blackpool Council’s Blackpool Unlimited service, and The Fylde Coast Responsible Business Network also collectively helped to encourage Business Finance North West to expand its operations to Blackpool. 

John Fallon, chair of BITC’s Blackpool Pride of Place Partnership, said: “We’re thrilled to work with local business leaders and Lloyds Banking Group to offer local entrepreneurs the chance to innovate, build, and grow in Blackpool and along the Fylde Coast.” 

Chris Sood-Nicholls, managing director, regional development sustainability and ESG Finance at Lloyds Banking Group, said: “This is a testament to what can be achieved when local partnerships and national commitment come together.

"By supporting Community Development Finance Institutions (CDFIs), Lloyds Banking Group is helping to make finance more accessible for businesses and social enterprises, supporting Blackpool and the Fylde Coast’s ambition to be a vibrant, inclusive, and innovative place to live, work, and grow.” 

Stephen Waud, chief executive of Business Finance North West, said: “I’m absolutely thrilled to bring our CDFI model to Blackpool and the Fylde Coast, based in The Robinson – a new £8.2m development on Church Street, Blackpool. 

"We’ve got over 20 years’ experience of supporting businesses across the North of England to access finance they could not find elsewhere. 

"That’s not because their ideas were not good enough but because traditional lenders often say no to businesses without long trading histories, assets, or the ‘right’ postcode.” 

Cllr Mark Smith, Blackpool Council’s cabinet member for economy and built environment, said: “We have some fantastic businesses in Blackpool that we want to grow so they can hire more people and help us make Blackpool better. 

“The council supports start up loans for new businesses and offers net zero and growth advice, but this fills a vital funding gap that will allow companies to finance expansion in a way that is affordable, and not reliant on bidding to big banks.” 

Andy Charles, Blackpool Pride of Place director at Business in the Community, said: “We are delighted that Business Finance Blackpool has launched today to benefit the town and Fylde Coast.

"This initiative will help businesses, charities, and social enterprises who are all able to benefit from this funding, ensuring that no organisation gets left behind.

"This is evidence of the effect that business partnerships can have on local communities through growth and jobs.” 

If your business is interested in benefiting from this funding, find out more at https://www.financenw.org/ or contact Simon Truby on 07368208922 or Ronnie Harris on 07593 574476.