Rosebud-backed firms generate £20.4m

Rosebud says businesses it has backed contributed £20.4m to the county economy over the past year.

The Lancashire County Council-backed growth finance provider also reported a £10.7m increase in sales among supported businesses. The cohort generated an additional £4m in goods and services provided and recorded a combined turnover of £58.5m.

Figures released by Rosebud show the businesses created almost 100 jobs and now support 483 roles across the county.

Rosebud, part of Lancashire County Council’s Business Growth Service, said the results demonstrate the impact locally delivered finance can have on business growth and economic development.

County Coun Brian Moore, cabinet member for economic development and growth at Lancashire County Council, said: “These results show why Rosebud has been around for 40 years and still matters.

“It is helping businesses across Lancashire to grow and create jobs, while also delivering wider economic value for the county.

“When we back local firms at the right moment, the benefits are felt well beyond the business itself, through supply chains, employment and stronger local communities.”

Rosebud offers a range of financial and growth support services. This includes hands-on support, expert guidance and tailor-made finance packages or co-investment opportunities for companies from a diverse range of sectors and industries, who are looking to grow and scale. Eligible businesses can borrow from £25,000 to £100,000.

Amy King, investment co-ordinator at Rosebud, said: “We often meet businesses at the point where they are ready to move forward, but the usual finance routes are not working for them.

“Our job is to make the process clear, focus on the plan and the numbers, and support businesses to take the next step with confidence.

“The impact figures reflect what happens when growing firms can access the right support at the right time.”

One Rosebud backed business, Outdoor Elements, this month marks 15 years since opening its activity centre at Simonstone.

Outdoor Elements was established in 2001 and grew to the point where it needed a permanent base for its programmes.

The centre opened in May 2011 and has since developed into a well-established provider of outdoor learning and activity experiences for schools, businesses and community groups. 

Jim Bowden, managing director, said: “Rosebud’s backing was instrumental in helping us get started.

“Fifteen years on, we’re proud to have built a sustainable business that contributes to the local economy and supports schools, workplaces and community groups across the county.” 

Martin Emmott, fund manager at Rosebud, said: “Outdoor Elements is a strong example of a business that had a clear vision, used early support to establish a permanent base, and has built a trusted reputation over the long term.

“That is exactly the kind of sustainable growth Rosebud exists to support.”