Take advantage of business support

Support for business comes in many guises, from an array of professional services firms providing legal and accountancy services, to mentoring, funding, grants and more.

By David Sharpe, director, Pierce

We are blessed in Lancashire to have a plethora of support for businesses of all sizes.

Funding options have broadened since the credit crunch, as the banks’ appetite and ability to fund business has narrowed, and new lenders have emerged, including new asset based lenders and a variety of funds with private equity backing.

ABLs themselves have had to be creative to attract business in this highly competitive market, and each try to have a USP. Some specialise in funding contractors, and others are willing to lend on an unsecured basis which used to be the domain of the banks. A new offering from an ABL is a Purchase Order Finance Facility, providing a top facility to the traditional invoice discount line.

Beyond support with funding, business support is also available from the likes of the Chamber of Commerce also Boost (Lancashire’s Business Growth Hub).

East Lancs Chamber provides training support, international trade advice and a new suite of services aimed at helping business improve energy and the environment. A £2m European funded programme provides free services aimed at helping businesses improve environmental efficiencies, on site renewable energy generation and save money.

Boost provides mentoring advice both for start ups and established businesses, product development support, leadership development and training. Pierce Corporate Finance works regularly with the above organisations and a wide range of funding providers to ensure clients receive the best and latest business support and guidance.